I figured out the issue. Elementary. To convert to acres I had to MULTIPLY the sq miles estimate by 640, not divide.
proc sql;
create table MAX_COOR as select PROP, max(lat) as NORTH, min(lat) as SOUTH, max(lon) as EAST, min(lon) as WEST
from BLDGS
group by PROP;
quit;
data dist; set MAX_COOR;
distance_length = geodist(NORTH, EAST, NORTH, WEST, 'M');
distance_width = geodist(NORTH, EAST, SOUTH, EAST, 'M');
run;
data area; set dist;
area_acres = (distance_length * distance_width)*640;
run;
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