24-Acres Highway 98, Santa Rosa Beach, FL 32459 (MLS# 998058)

24-Acres Highway 98, Santa Rosa Beach, FL 32459

New Listing

$15,950,000

Property Type: Commercial for Sale Lot Size (sq. ft.): 1,065,478 Status: Active

Current Price: $15,950,000 List Date: 3/16/2026 Last Modified: 3/16/2026

Overview

Description

EXTREMELY RARE NEW DEVELOPMENT OPPORTUNITY in the very scarce and flourishing market of Santa Rosa Beach, Florida! An opportunity to acquire 24.46 prime contiguous acres in South Walton County is virtually non-existent, as most of the remaining larger tracts of undeveloped land Eastward from this assemblage of (3) contiguous parcels, all the way to Bay County, is vast State Forest and Parkland. Expanding 1,284 feet along Highway 98, this site also contains a median crosscut. An Active Development Order for (240)-units of multi-family apartments has been recently issued by Walton County, yet additional development uses could include a Campus for various Levels of Elderly Care, Big Box Retail with Outparcels (i.e.-Home Depot, Lowe's, Target, Wal-Mart, etc...), which would...

Supplements: likely require only a 'Less than Minor Development Order' or 'Minor Development Order' to crossover from apartments to a mixed-use retail venue or elderly care campus. The land use and zoning is the most preferred in the local development community, known as V.M.U. (Village Mixed Use). The active development order for apartments involves a site p ... (Read more)

Listing Details MLS# 998058

Contract Info

GCCMLS Number: 44523401
Listing Board: Emerald Coast

Location Tax and Legal

Area: 16 - North Santa Rosa Beach
Street #: 24-Acres
Street Name: Highway 98
State: FL
Zip Code: 32459
County: Walton
Parcel ID: 36-2S-20-33290-000-0330

General Property Info

Listed on GCCMLS: Yes
Property Information: Existing Development Order just issued by Walton County for (240)-doors of Apartments but could be phenomenal site for mixed uses including Big Box Retail with Outparcels, or perhaps a Campus for various levels of Elderly Care. The 24.46 acres spans across three contiguous parcels.
Vacant: Yes
Acreage: 24.46
Lot Frontage: 1284
Zoning: VMU
Future Land Use: Village Mixed Use

More Information

Multi-Family

# of Units: 240
# Buildings: 4

Retail

# of Units: 240

Location, Tax and Legal

Sub Area: 1604 - SRB North of 98 S. of Chat Holley Rd
Legal Description: Survey available; please inquire. Walton County, Florida Parcel Identifications recorded as follows: 36-2S-20-33290-000-0340 AND 36-2S-20-33290-000-0330 AND 25-2S-20-33190-000-0480

Listing Info, Tax & Legal

As Is: Yes

Remarks & Misc

Remarks: EXTREMELY RARE NEW DEVELOPMENT OPPORTUNITY in the very scarce and flourishing market of Santa Rosa Beach, Florida! An opportunity to acquire 24.46 prime contiguous acres in South Walton County is virtually non-existent, as most of the remaining larger tracts of undeveloped land Eastward from this assemblage of (3) contiguous parcels, all the way to Bay County, is vast State Forest and Parkland. Expanding 1,284 feet along Highway 98, this site also contains a median crosscut. An Active Development Order for (240)-units of multi-family apartments has been recently issued by Walton County, yet additional development uses could include a Campus for various Levels of Elderly Care, Big Box Retail with Outparcels (i.e.-Home Depot, Lowe's, Target, Wal-Mart, etc...), which would...

Class

Hotel/Motel: Yes
Land: Yes
Multi-Family: Yes
Retail: Yes

Construction Status

N/A: Yes

Hotel/Motel

# of Rooms: 240

Property Features

Class: Hotel/Motel; Land; Multi-Family; Retail Construction Status: N/A

Listing Office: Somers & Company

Last Updated: March - 16 - 2026

All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2026 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.

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