72-Unit Multifamily Apartment Development

Pensacola, nestled along Florida's Gulf Coast near the Florida/Alabama border, has emerged as a vibrant hub experiencing remarkable growth driven by burgeoning population numbers and robust median incomes. This expansion owes much to a thriving economy and burgeoning tourism sector, igniting significant demand for housing and retail spaces. Notably, the metropolitan area hosts a substantial government presence, with NAS Pensacola employing over 23,000 military and civilian personnel near the city. Situated near key locales like the airport, hospital, University of West Florida, and military installations such as NAS Pensacola and Whiting Field Naval Base, Pensacola benefits from its strategic positioning amidst renowned tourist destinations like Perdido Key, Pensacola Beach, Gulf Breeze, and Navarre Beach. The Pensacola area is also home to more than 35,000 military retirees, the second largest concentration in the nation.An exceptional multifamily development opportunity is available in Northwest Florida on +/- 3.89 acres. This location offers easy access to US Highway 98, the primary route for the panhandle Florida markets, and links to other key Pensacola submarkets. Seller has an approved Development Order for a 72-unit apartment complex and the property is zoned as High-Density Residential (HDR). Centrally positioned within the Pensacola market, the site is near Pensacola High School, Escambia High School, Pensacola State College, Ascension Sacred Heart Hospital, Baptist Hospital, restaurants, beaches, and Naval Air Station Pensacola.