Sense location, say (5)
I believe the answer is:
sight
'sense' is the definition.
(sight is a kind of sense)
'location say' is the wordplay.
'location' becomes 'site' (site is a kind of location).
'say' shows a homophone (sound like).
'site' sounds like 'SIGHT'.
(Other definitions for sight that I've seen before include "Range of vision" , "Observe" , "Spot - eyesore" , "Could be a jolly" , "Bodily faculty" .)