With frontage on Highway 79 near Vernon in Washington County, Florida, Holmes Creek Timberlands possesses a strategic location from a timberland, recreational, and future development perspective. For an investor looking for an upside beyond timber returns, this 875-acre property offers intriguing possibilities.
From a timber perspective, nearly 80% of Holmes Creek Timberlands is plantable, a high percentage that enhances its economics. The standing timber consists of 290 acres of planted pine that are 13 - 15 years old. Other merchantable timber was harvested within the past two years and has not been re-planted. In addition, there is a beautiful 40-acre pasture area that is currently being leased out to a cattle operator.
With its adjacency to the Choctawhatchee River Wildlife Management Area, hunting opportunities for deer and turkey abound. Fishing is also very popular in Holmes Creek and a boat launch area is just steps away from the property’s northern boundary. There, anglers will find bass, shellcracker, redbreasts, and bream in abundance. For paddling enthusiasts, Holmes Creek is a state-designated canoe trail where several natural karst springs can be explored. A tremendous variety of wildlife can be spotted along the creek including ibis’, cranes, pileated woodpeckers, egrets, otters, beavers, turtles and gators.
Holmes Creek Timberlands was purchased in 2005 for the purpose of converting the timberland to a residential development. After two years of arduous work and significant expenditures, a Planned Unit Development (PUD) was approved that allowed 640 homes. Unfortunately, the recession hit and the plan was tabled. For an investor, it’s important to note that this special zoning is transferable and will not lapse.
While development in general has momentarily diminished, this area offers tremendous prospects given the four-lane expansion of Highway 79 to Interstate 10 and the impact of Panama City’s Beaches International Airport 30 miles to the south. The airport is part of the St. Joe Company’s 75,000-acre West Bay development which has entitlements in place for 4.4 million square feet of commercial / industrial / retail space, 6,300 dwelling units, and 900 marina slips. Additionally, there is the unlocked potential of the Northern Trust’s 59,000 acres, located just to the south of Holmes Creek Timberlands.
Acreage:
875 Acres
Asking Price:
$1,800 per acre
Location:
Washington County, Florida
Special Attributes:
