Developer Opportunity - Retail Building + 24 6593 Caroline St 7,500 SF Retail Building Milton, FL 32570 For Sale

Retail Building + 24+ Acres Development Opportunity | Milton, FL
Located in the growing market of Milton, this unique investment opportunity includes an existing retail building with significant surrounding land, offering excellent potential for investors, developers, or owner-operators.
The property features a 7,950 SF retail building built in 1987 situated on 1.05 acres zoned C-2 (General Commercial). The building is considered a Class C commercial property, typical for buildings constructed in the late 1980s, making it an ideal value-add opportunity for renovation, repositioning, or continued retail use.
The front portion of the building previously operated as a smoke shop, while the rear portion has been recently renovated and is approximately 70% complete as a full country-style bar and restaurant concept. Much of the renovation work has already been completed, providing a strong foundation for an operator or investor to finish the build-out and open for business.
In addition to the commercial parcel, the sale includes over 24 acres of adjoining land zoned REC (recreational use), offering major potential for residential development, subdivision, or long-term land investment.
Positioned on Caroline Street, the property offers convenient access to surrounding residential communities and the historic downtown district of Milton within **Santa Rosa County.
The combination of existing commercial improvements, partially completed hospitality build-out, and large residential land acreage creates a rare opportunity for redevelopment or multi-use investment in Northwest Florida.
Property Details
Address: 6593 Caroline St, Milton, FL
Building Size: 7,950 SF
Year Built: 1987
Building Class: Class C
Commercial Parcel: 1.05 Acres (C-2 Zoning)
Additional Land: 24+ Acres (R-2 Zoning)
Front Use: Former smoke shop retail space
Rear Space: Country bar / restaurant build-out (~70% complete)
Construction: Conventional retail
Parking: On-site surface parking
TRAFFIC COUNTS & ACCESSIBILITY
Milton, Florida | Caroline Street Corridor
• 35,000+ Vehicles Per Day along nearby U.S. Highway 90, the primary commercial corridor serving Milton and Santa Rosa County • Convenient access to Interstate-10, providing connectivity to Pensacola, Crestview, and regional Gulf Coast markets• Strong local traffic generated by surrounding residential neighborhoods, schools, and historic downtown Milton• Positioned within a growing suburban corridor experiencing increased residential development and commuter traffic
AREA DEMOGRAPHICS
Milton, Florida | Santa Rosa County
Population
• Milton Population: ~10,485 residents (2023) • Santa Rosa County continues to see population growth driven by expansion from the Pensacola metro area and military presence
Age Profile
• Median Age: ~38 years • Balanced workforce population with strong family demographics
Households
• ~4,500 households in Milton • Average household size approximately 2.2 persons per household
Income
• Median Household Income (Milton): ~$72,676 – $76,301 • Santa Rosa County Median Household Income: ~$89,000
Education
• Approximately 88% of residents hold a high school diploma or higher
MARKET DRIVERS
• Located within the Pensacola Metropolitan Area, one of Northwest Florida’s fastest-growing regions• Demand driven by military employment (NAS Whiting Field), healthcare, and regional retail expansion• Increasing residential development across Santa Rosa County fueling long-term demand for housing, retail, and hospitality