4869 Retta Lane, Crestview, FL 32536

$1,850,000

Property Description

UPDATE 11/11/2023: Texas Roadhouse new Site has Broken Ground DUE EAST - THE ENERGY IS MOVING WEST TOWARD SUBJECT PARCEL. This property has been annexed and accepted into the City of Crestview. *Zoning and FLU Adjudication withheld - NEW OWNER / BUYER MAY SELECT* CURRENTLY MIXED USE AND MIXED USE (zoning and FLU) for maximum flexibility with 2.0 FAR + 25 UNITS / ACRE DENSITY. ***Ability to have Commercial Density Access via Raspberry Rd - Contact listing broker for Details. ***Retta Lane in process of receiving ROW INCREASE TO COMMERCIAL WIDTH - once this occurs, thus joining North into the 'new road' under construction the Present Value will greatly increase. CONTACT LISTING BROKER TO DISCUSS OPTIONS. ....DUE TO NATURAL ELEVATION OF THE LAND, COMMERCIAL SIGNAGE COULD PROVIDE ONE OF THE HIGHEST VISIBILITY SITES TO CAPTURE ATTENTION OF 50,000+ DAILY COMMUTERS. ADJACENT SYNERGY; THE SITE IS NESTLED JUST BEYOND THE UNDER CONSTRUCTION "CRESTVIEW COMMONS" A MAJOR COMMERCIAL PLAZA WITH NATIONAL RETAIL TENANTS ETC. THE SITE IS APPROXIMATELY 2,500' DUE WEST OF EXISTING LOWE'S SUPER CENTER AND 3,500' DUE WEST OF NEWLY PURCHASED TEXAS ROADHOUSE SITE (2.37 ACRES, SOLD AT $1.6MM 2021); AND DOLLAR GENERAL, APPLEBEES, BURGER KING, WAL MART, CHICK-FIL-A, CRACKER BARREL, THE LIST GOES ON. FUTURE IMPLICATIONS; PUBLIC INFORMATION REFLECTS CITY OF CRESTVIEW PLANS TO EXPAND PUBLIC RECREATION PARK / SPORTS AREA IN VICINITY OF THE SITE (SPECIFICALLY ~2,500' DUE WEST OF THE SITE), FURTHER INCREASING PUBLIC / CUSTOMER VISIBILITY. SEVERAL NEAR / ADJACENT SITE PROJECTS ARE IN PLANNING AND APPROVAL PROCESSES AND THUS HAVE NOT YET BROKEN GROUND, TO INCLUDE HOTEL AND MULTI FAMILY. THE SITE CURRENTLY HAS FUNCTIONING WELL WATER AND SEPTIC, IN GROUND CEMENT POOL, (3) SPRING-FED PONDS PREVIOUSLY STOCKED, STORAGE BARN/WAREHOUSE SPACE, AND VINTAGE 1980 LOG CABIN FEATURING 2 BEDROOMS 2 BATHS AND HIGHLY UPDATED INTERIOR/SYSTEMS. *****THIS PROPERTY IS A MUST SEE; YOU CAN LITERALLY "FEEL" THE GROWTH OF THE CITY PUSHING FROM ALL SIDES. ******NEAREST SEWER CONNECTION IN VICINITY OF LOWES; HOWEVER, THE UNDER CONSTRUCTION CITY ARTERIAL ROAD DUE NORTH WILL LIKELY BRING SEWER EVEN CLOSER FOR LOWER CONNECTION FEES. ******LAND VALUE OF SITE EXPECTED VALUATION AT 2-3X MULTIPLE IN 3-5 YEARS TIME BASED ON CURRENT RATES. Demographics & U.S. Census Data at a glance Crestview population density per square mile increased by 25% from 2010-2020. (Bearing in mind that the greatest "boom" is occurring in our current time segment) Population percentage increase of 2.9%, April 2020 - July 2022. Owner-occupied housing unit rate of 57.3%. Persons 65+, 11.4%. Nearly 9 out of 10 households have a computer with broadband internet service. Median household income of more than $56,000 in 2021. $482,000,000+, total retail sales 2017. $211,200,000+, healthcare and social assistance receipts 2017. $73,600,000+, accommodation and food service sales 2017. $18,300,000+, transportation and warehousing receipts 2017. Thank you for your time and consideration of this offering; please contact an agent / broker to further discuss details of this high-yield opportunity.

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Keller Williams Realty SRB.

Vendor Member Number : 28166