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.
Vacant landProperty Type
19.75 acresLot Size
$551,899Price/Acres
Listed by LaFlure & LaFlure & Vice• Scenic Sotheby's International Realty
Listed by Lisa LaFlure• Scenic Sotheby's International Realty
Lot dimensions approximately 1530 x 1350 x 902 x 241
Utilities
Electric service
Private well
Septic tank
Sale and tax history for 5020 Arena Rd
Sale History
Tax History
Date
Event
Price
ECAR #991549
Dec 19, 2025
Listed
$10,900,000
Public Records
Apr 12, 2017
Sold
$250,000
Public Records
Apr 12, 2017
Sold
$183,400
Year
Property tax
Land + Additions
Assessment*
2025
$1,874 (+11.2%)
2024
$1,685 (+0.2%)
2023
$1,682 (−0.5%)
2017
$1,691 (−36.0%)
$72,862 + $112,391
$185,253
2016
$2,642 (−2.7%)
2015
$2,715 (−3.7%)
2014
$2,820
Public record
Public record
Zoning
Beds
—
Baths
1
Stories
1
Lot width
—
Lot depth
—
Lot size
14.85 Acres
Year renovated
1999
Finished Sq. Ft.
4,788
Unfinished Sq. Ft.
—
Total Sq. Ft.
4,788
Year built
1999
Style
Vacant Land
County
Okaloosa County
APN
253N24000000020000
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 10, 2026.
AA
Agriculture District
The purpose of the agriculture AA district is to provide areas for production of plants and animals useful to humans, including to a variable extent the preparation of plant and animal products for human use by sale or otherwise and includes aquaculture, horticulture, floriculture, viticulture, silviculture, dairy, livestock, poultry, bees, and any and all forms of farm products and farm production. This district is also suitable for preservation of green spaces, conservation uses, outdoor recreation uses, very low-density residential uses, and public/institutional uses.
Permitted uses
Include but are not limited to:
Agriculture
Equestrian facility
Greenhouse / nursery
Winery & vineyard
Religious facility
Housing-Single unit
Infrastructure
Educational/school
Recreation
Park & open space
Historical weather
Crestview, FL • 32536
Average low and high temperatures (°F)
60
39
69
48
76
53
82
60
85
66
91
72
92
76
91
75
88
70
82
59
74
54
65
44
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
97/ 100
Exceptional sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
9.2 hrs
6.9 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 5020 Arena Rd
There isn’t enough information to generate an accurate estimate at this time. Learn More