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    4664 Chumuckla Highway Pace, FL 32571
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    4664 Chumuckla Highway, Pace, FL 32571

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    Property Details for 4664 Chumuckla Highway

    Property type
    Land
    Property subtype
    Commercial land

    Description

    This exceptional 18-acre commercial parcel presents a remarkable development opportunity in Pace, Florida. Boasting 275 feet of road frontage on Chumuckla Highway, this property enjoys high visibility and convenient access. Its strategic location, approximately half a mile north of US Highway 90, ensures excellent connectivity and exposure to a substantial customer base. The expansive acreage is ideally suited for a diverse range of commercial ventures, including retail shopping centers, professional or medical office complexes, or a senior living facility. The land is currently undeveloped, offering complete flexibility for customized development plans to meet specific business needs. With its size, location, and versatility, this property represents a significant investment opportunity in a rapidly growing area. The asking price is $3,500,000. Serious inquiries are encouraged. All information is deemed reliable but not guaranteed. Buyers are advised to conduct their own due diligence.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Pace
    County
    State
    Florida

    Comparable in this City

    • $749,850
      2.49 Acres

      Woodbine Road Commercial Land

      Prime Pace, FL QSR/Retail Opportunity
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    • $385,000
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      Prime Pace Commercial Land

      1.5-Acre Site with Existing Building
      4636 Chumuckla Hwy, Pace, FL 32571
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    • $1,450,000
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      Pace Commercial Land - US 90 Frontage

      High-growth Pace location, 1.26 acres, US 90 frontage.
      4710 Jerry Dr, Pace, FL 32571
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    • $539,000
      1.53 Acres

      Pace Commercial Land - Prime Location

      1.53 acres, high-visibility, development-ready.
      4550 Bell Lane, Pace, FL 32571
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    • $871,500
      2.49 Acres

      Pace Commercial Land Opportunity

      Prime 2.49-acre parcel near Pensacola.
      4551 Woodbine Road, Pace, FL 32571
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    Similar Nearby for Sale

    • $749,850
      2.49 Acres

      Woodbine Road Commercial Land

      Prime Pace, FL QSR/Retail Opportunity
      4551 Woodbine Road, Pace, FL 32571
      View Details
    • $385,000
      1.50 Acres

      Prime Pace Commercial Land

      1.5-Acre Site with Existing Building
      4636 Chumuckla Hwy, Pace, FL 32571
      View Details
    • $1,450,000
      1.25 Acres

      Pace Commercial Land - US 90 Frontage

      High-growth Pace location, 1.26 acres, US 90 frontage.
      4710 Jerry Dr, Pace, FL 32571
      View Details
    • $539,000
      1.53 Acres

      Pace Commercial Land - Prime Location

      1.53 acres, high-visibility, development-ready.
      4550 Bell Lane, Pace, FL 32571
      View Details
    • $871,500
      2.49 Acres

      Pace Commercial Land Opportunity

      Prime 2.49-acre parcel near Pensacola.
      4551 Woodbine Road, Pace, FL 32571
      View Details

    Similar Nearby for Lease

    • $65,000
      40,400 SF

      Highway 90 Pace Commercial Lot

      Prime Pace, FL commercial land: Sale or lease.
      5162 us 90, Pace, FL 32571
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    • $100,000
      62,726 SF

      Pace, FL Land Ground Lease

      High-traffic location, excellent development opportunity.
      4830 Caroline Street, Pace, FL 32571
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    • $3 SF/Yr
      110,207 SF

      Pace, FL Commercial Land Lease Opportunity

      Highway 90 Outparcel Land Lease: Prime Pace Location
      4710 Jerry Dr, Pace, FL 32571
      View Details
    • $2.00 SF/Yr
      31,799 SF

      Pace FL Commercial Land Lease

      Prime Retail Land, 0.73 Acres
      6600 Chumuckla Hwy, Pace, FL 32571
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    • Contact for pricing
      435,694 SF

      Pace, Florida Outparcel Opportunity

      Approximately 10-acre outparcel suitable for restaurant or retail use.
      5375 Fl-10, Milton, FL 32571
      View Details
    • Contact for pricing

      Highway 90 Ground Lease Opportunity

      Ground lease opportunity on Highway 90 in Pace, Florida.
      4830 Caroline St, Pace, FL 32571
      View Details
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    Pace, FL 32571
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    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
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    4664 Chumuckla Highway, Pace, FL, 32571
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