NEW REDUCED PRICE - OVER 50% BELOW APPRAISED VALUE! Appraised at $1.1 million in April 2012, this parcel is within the Black Creek Neighborhood Planning Area. The Rural Town Center land use allows a mix of uses, including up to 10-units/acre residential density, commercial, retail and civic/institutional uses. Within 15 minutes to the Beaches of South Walton, 20-minutes to the new Northwest Florida Beaches International Airport, and convenient to the area's growing employment centers, the land use entitlements provide enormous future development potential, and at a price that allows a long term hold while using the land for recreational/hunting and/or a private country retreat.