5020 Arena Road, Crestview, FL 32536 (MLS# 991549)

5020 Arena Road, Crestview, FL 32536

$10,900,000

Property Type: Land Lot Size (sq. ft.): 860,310 Status: Active

Current Price: $10,900,000 List Date: 12/19/2025 Last Modified: 1/28/2026

Overview

Description

Prime 19.75-Acre Development Opportunity Strategically positioned just off the upcoming FDOT interchange connecting I-10, Hwy 85, Antioch Rd., and PJ Adams, this high-and-dry parcel offers exceptional commercial or mixed-use potential. The corridor is now four-laned from Hwy 90 to I-10, unlocking major traffic flow and long-term growth. Currently operated as a horse facility, the land is mostly cleared, flat, and ready for redevelopment. Located near the new hospital site, this property sits in the heart of a rapidly expanding medical and commercial hub—ideal for retail, medical, hospitality, residential development, or a large-scale commercial venture. A rare chance to secure nearly 20 acres in a booming growth path.

Listing Details MLS# 991549

Contract Info

Listing Board: Emerald Coast
List Price/Acre: 551898.73

Location Tax and Legal

Street #: 5020
Street Name: Arena
Street Suffix: Road
Area: 25 - Crestview Area
State: FL
Zip Code: 32536
County: Okaloosa
Project Name/Subdivision: NA
Parcel ID: 25-3N-24-0000-0002-0000

General Property Info

Sub-Type: Agricultural
Acreage: 19.75

Location, Tax and Legal

Sub Area: 2502 - Crestview Southwest
Elementary School: Northwood
Middle School: Shoal River
High School: Crestview
Legal Description: NE1/4 EXC PART SOLD

More Information

Listing Info, Tax & Legal

Is Subject Leased: No
Assessment Fees: No
New Buyer Fee: No
Brokerage Interest: No Interest
As Is: Yes

Remarks & Misc

Remarks: Prime 19.75-Acre Development Opportunity Strategically positioned just off the upcoming FDOT interchange connecting I-10, Hwy 85, Antioch Rd., and PJ Adams, this high-and-dry parcel offers exceptional commercial or mixed-use potential. The corridor is now four-laned from Hwy 90 to I-10, unlocking major traffic flow and long-term growth. Currently operated as a horse facility, the land is mostly cleared, flat, and ready for redevelopment. Located near the new hospital site, this property sits in the heart of a rapidly expanding medical and commercial hub—ideal for retail, medical, hospitality, residential development, or a large-scale commercial venture. A rare chance to secure nearly 20 acres in a booming growth path.

Farm Info

Barn - Horse: Yes
Corral: Yes
Stable: Yes

Lot Features

Level: Yes

Lot Access

County Road: Yes

Utilities

Electric: Yes
Private Well: Yes
Septic Tank: Yes

Zoning

Agriculture: Yes
Horses Allowed: Yes

Property Features

Farm Info: Barn - Horse; Corral; Stable Lot Access: County Road Lot Features: Level Zoning: Agriculture; Horses Allowed Utilities: Electric; Private Well; Septic Tank

Documents

Features Sheet ›

Listing Office: Scenic Sotheby's International Realty

Last Updated: January - 28 - 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.