Olde City Developers, owned by Pensacola attorney Charles Liberis, earlier this year purchased a roughly 7-acre parcel on the west side of Hwy. 87 S located just south of Interstate 10. The parcel was subsequently rezoned to HCD for possible future housing or retail. Additionally, highway frontage across the road is eyed for a future hotel or other commercial development.
The rezoned ~7-acre parcel is now on the market for $690,000. The parcel could accommodate 32 townhomes or 69+/- apartments. Located less than a half mile south of I-10, the site has conditional use approval for a multi-family development. However, its zoning would also allow for other commercial uses, including retail.
Across the highway, on the east side of 87 S, Developer Cliff Mowe owns nearly one mile of road frontage. He’s looking to sell the property for hotel or commercial uses, considering the property sits at the entrance to the county-owned Northwest Florida Industrial Park at I-10, an 88-acre site certified industrial park. A total of 11.62 acres is being offered for $1.275 million; however, the parcels can be individually purchased: 5 acres for $625,000, 3 acres for $425,000 or 2 acres for $325,000. The balance of the one mile frontage can also be purchased.
Plans in the nearby area by other developers include Splash RV Resort, which is scheduled to open in December, and a new truck stop with a restaurant being developed just north of the Interstate exchange.
Additionally, the Florida Department of Transportation plans to install a traffic signal just south of the Interstate on Hwy. 87 S in the vicinity of Welcome Church Road.
Interested parties can contact Scott Jennings with Olde City Realty via (850) 341-7209 or Jack Williams with Beck Partners via (850) 698-5346 for more details on the listed properties.
