Navarre Beach Development Site

8459 Gulf Boulevard, Navarre, FL, 32566, US

Description

JLL Capital Markets is pleased to exclusively offer the sale of 8459 Gulf Boulevard, a prime 3.39-acre oceanfront land site located in Navarre Beach, Florida. Directly on the Gulf of Mexico, the Site is one of the last remaining commercial properties to be developed along the Emerald Coast in Navarre Beach. The Site is approved for a 17-story development including 215 hotel keys and 84 condominiums, providing new ownership a significant opportunity and optionality to pursue a mixed-use project or focus solely on a residential or hospitality development.

Previous development plans on the Site have recently garnered premium top of market condominium sale reservations, exemplifying the strong demand for this serene location. Navarre Beach is a barrier island community located in Santa Rosa County of Florida’s Panhandle between Pensacola and Destin. Renowned as “Florida’s Best Kept Secret,” this pristine coastal destination has emerged as an attractive alternative to the more bustling and dense neighboring markets, offering white sand beaches and a growing tourism infrastructure. Navarre Beach is a favorite outdoors destination for tourists and residents, offering water activities from swimming and fishing to kayaking and paddleboarding, complemented by miles of shoreline perfect for walking, jogging, and nature observation along its scenic landscape and protected ecosystems.

Notable activities happening in the area include the Navarre Beach Boardwalk (~0.5 miles from the Site), a $5.5 million proposed beachside project that would include a 4,000 square foot Welcome Center, pavilion, retail shops, and additional parking. Navarre Beach underwent an $11.5 million beach restoration project from November 2024 to February 2025 to restore the coastline and increase beach width.

This offering represents an immense opportunity to capitalize on the area’s unique touristic demand and affluent residential profile to create a landmark development

that shapes the coastal landscape of Navarre Beach.

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Attributes

Land area gross

3.39 acres

Media

Investment highlights

Secured Development Order

A Development Order was issued on the Site in August 2024 and valid until August 2029. Plans include a 17-story development consisting of 84 luxury condominiums above a 215-key hotel.

Market-Leading Position

The Site leverages the limited remaining developable land along Navarre Beach and a 16-year gap in new condominium supply since 2009, capturing new attraction and pent-up demand from both residents and visitors throughout the Florida Panhandle and surrounding southern markets.

Unique & Highly Desirable Location

Navarre Beach is a quaint neighborhood conveniently located between Pensacola and Destin, positioned as an appealing alternative to the more bustling coastal regions. A growing area for tourism, Navarre Beach recorded 1.43 million visitors in 2023. Of those visitors, 88% come from out-of-state and 63% stayed for over three days. Also a strong residential profile, the demographic surrounding the Site within a 15-minute drive boasts a $117,568 average household income and 6% population growth projected over the next 5 years.

Nearby Developments Spurring Demand

Located just ~0.5 miles from the Site is the planned $5.5 million Navarre Beach Boardwalk, which will consist of a 4,000 square foot Welcome Center, pavilion, and retail shops.