6595 Florida Ave Crestview, FL 32539
This exceptional 87.14-acre parcel, located at 6595 Florida Ave in Crestview, Florida (Okaloosa County, zip code 32539), presents a remarkable multifamily development opportunity. Zoned for residential multi-family use (Resid Multi-Family), this property boasts a high-traffic location directly off Highway 85, ensuring excellent visibility and accessibility. The land is part of a larger master-planned development (Phase II and III, featuring 157 lots), with an approved Okaloosa County Master Plan Development Order. Final engineering is nearing completion. This prime location offers convenient proximity to local shopping centers, restaurants, and entertainment venues, making it an ideal site for a thriving residential community. The property's size (approximately 87+ acres, to be verified by survey; homestead not included, 107-acre master parcel less homestead) provides ample space for a substantial project. Showings are by appointment only. The asking price for this exceptional development opportunity is $3,140,000. The APN is 15-4N-23-0000-0001-005A.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.