Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Lot Lancaster Dr Niceville, FL

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    8.31 acre commercial land parcel with highway frontage.

    Type:LAND
    Lot size:
    8.31 Acres
    Added:
    Sep 25, 2025
    Days on Market:
    190
    Last Refresh:
    Mar 29 at 9:14 pm

    Property Features for Lot Lancaster Dr

    General Information

    Standard status
    Active
    Lot size
    8.31 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Dora Cawood
    Dora Cawood

    Listing agent Dora Cawood

    Listing office Ruckel Properties, Inc.

    Listing date Sep 25, 2025

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Ruckel Properties, Inc.

    Overview

    Highway 20 Development Opportunity

    This 8.31-acre parcel presents a development opportunity with approximately 1,230 feet of frontage on Highway 20 and a depth of about 448 feet. The property is zoned for Mixed Use. It experiences a traffic count of 40,500 vehicles per day. Note that a new parcel ID will be generated upon splitting from the parent parcel. The rear 16.69 acres are zoned residential and are not available for purchase. Interested parties should consult the Okaloosa County zoning map for zoning clarification and notify the listing agent prior to any on-site viewing of the property.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Niceville
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.4822
    Latitude
    30.5169

    Nearby Similar for Sale

    • $400,000

      Niceville Multi-Use Redevelopment Opportunity

      0.8-acre multi-use parcel in Niceville CRA district.
      311 Kelly Road, Niceville, FL 32578
      View Details
    • $400,000

      Niceville Commercial Land For Sale

      Two commercial lots totaling 0.80 acres in Niceville, Florida.
      309 Kelly Road, Niceville, FL 32578
      View Details
    • $449,900

      Niceville, FL 1.4-Acre Corner Lot

      1.4-acre corner lot in Niceville's Bluewater Bay neighborhood.
      Brookhaven Way lot: 28, Niceville, FL 32578
      View Details
    • $345,000
      1,664 SF

      New Home in Niceville

      New 3BR/2.5BA home with modern features and fenced backyard.
      615 31st Street, Niceville, FL 32578
      View Details
    • $379,000

      Bayfront Parcel in Niceville, FL

      0.78-acre bayfront parcel with residential/commercial zoning and dock rights.
      FL-20, Niceville, FL 32578
      View Details
    • $380,000

      Land with Existing Double Wide

      Large lot in Niceville with potential for development.
      215 Davis Drive, Niceville, FL 32578
      View Details
    • $275,000
      1,300 SF

      Niceville End Unit Home

      2-bedroom, 1.5-bathroom end unit in a fantastic location.
      205 Marquette Street unit: 4, Niceville, FL 32578
      View Details
    • $1,275,000
      3,000 SF

      Free-Standing Retail Building Investment

      3,000 SF retail building built in 2021 in Niceville, FL.
      4641 Highway 20, Niceville, FL 32578
      View Details
    • $269,000

      Residential Land in Deer Moss Creek

      Large residential lot in Niceville's Deer Moss Creek.
      320 Gazelle Court, Niceville, FL 32578
      View Details
    • $199,999

      Cleared Lot with Bay Views

      Cleared lot ready for construction with stunning bay views.
      13808 FL-20, Niceville, FL 32578
      View Details
    • $400,000

      Niceville Commercial Lots For Sale

      Two commercial lots totaling ±0.80 acres in Niceville, Florida.
      309 Kelly Road, Niceville, FL 32578
      View Details
    • $1,395,000
      4,584 SF

      Rare Nursery Site for Sale

      3.35-acre nursery site in Niceville, Florida, for sale.
      1405 S Palm Boulevard, Niceville, FL 32578
      View Details

    FAQs

    What type of property is this?
    Land - 8.31 acre commercial land parcel with highway frontage.
    Where is this land located?
    The property is located at Lot Lancaster Dr Niceville, FL.
    What is the asking price?
    The asking price for this property is $4,570,500.
    What are key features of this property?
    This property features: Prime development opportunity on Highway 20.; 8.31‑acre flat parcel.; Approximately 1,230 feet of Highway 20 frontage.
    (850) 496-5715 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Dora Cawood
    Dora Cawood
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!