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4840 Ferdon Blvd S

6.69 Acres of Commercial Land Offered at £4,734,000 in Crestview, FL 32536

Investment Highlights

  • Combined AADT of 60,300
  • Median Cut on the North West Corner on Hwy 85/Riverwood Dr.
  • One Mile South of I-10
  • Contiguous Access from Riverwood Dr to PJ Adams

Executive Summary

Crestview is the county seat of Okaloosa County, and is designated as the Hub City” as it is located at the junction of three major highways” US Hwy 90 (US 90), State Road 85 (SR 85) and Interstate 10 (I-10). The University of Florida’s Bureau of Economic and Business Research (BEBR) projects Okaloosa County’s current population of 188,000 is projected to grow to 223,500 by 2040 with medium population growth, representing an increase of 18%. As identified in the 2015 Florida Defense Factbook, Eglin Air Force Base, housed in Okaloosa County, is the largest military installation in the Department of Defense. Duke Field, located on SR 85, is the new home of the 919th Special Operation Wing. The Economic Development Council of Okaloosa estimated in 2017 the military presence of Duke’s Total Economic Impact in the Community at $51 million annually. Bob Sikes Airport supports a mix of general aviation, defense and industrial aerospace corporations with its 8,000 foot runway with an instrument landing system (ILS) and available acreage on and off airport for lease.

Attachments

Brochure

Property Facts

Price £4,734,000
Sale Type Investment
Sale Conditions Development Sale
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use
Commercial
  • Retail
  • Office
  • Auto Repair
  • Bank
  • Carwash
  • Convenience Store
  • Daycare Centre
  • Drugstore
  • Fast Food
  • General Freestanding
  • Medical
  • Restaurant
  • Self Storage
  • Strip Centre
  • Supermarket
Total Lot Size 6.69 AC

1 Lot Available

Lot

Price £4,734,000
Price Per AC £707,623
Lot Size 6.69 AC

+/-6.69 acres with 861' of road frontage on S. Ferdon. 3 points of Ingress/egress on Ferdon south bound, including a full median cut at the north west corner at S. Ferdon and Riverwood Dr.

Description

+/-6.69 Acres located at the intersection of Hwy 85 and PJ Adams with Lighted Hard Corner being anchored by Circle K. Crestview is the largest City in the FWB-Crestview-Destin Metro Statistical Area and is located One Mile South of I-10 with a combined traffic hit count of 60,300 at the intersection of (SR 85 & PJ Adams) of this C-2 zoned development site. 919th Special Operation Wing is located 6 miles South and Bob Sikes Airport is 7.5 miles North East. Located at the PJ Adams Pkwy Four Lane/New I-10 Interchange Project; opening ~300 acres within the City of Crestview for commercial economic development and 1,800 acres for residential development. Current AADT on PJ Adams is 18,300 and AADT on S. Ferdon Blvd (SR 85) is 42,000. Demographics within a 5 mile radius include a Total Population of 42,243 and an Average Household Income of $89,555.

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
32-3N-23-0000-0054-0000
Land Assessment
£669,533
Improvements Assessment
£22,610
Total Assessment
£692,142

zoning

Zoning Code C-2 (Commercial)
C-2 (Commercial)
  • Listing ID: 21565799

  • Date on Market: 21/11/2020

  • Last Updated:

  • Address: 4840 Ferdon Blvd S, Crestview, FL 32536

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