NNN Investment - 9.77% Cap Rate - Warehouse & Retail for Sale

Industrial for Sale
Catylist Listing ID: 29534175
Property Subtypes: Manufacturing, Mixed Use, Light Industrial, Warehouse/Distribution
Building Size (RSF): 14,392 SF
Gross Land Area: 0.67 Acres
Sale Price: $549,000
Unit Price: $38.15 PSF
Ceiling: 16 ft.
Docks/Doors: 2 Docks, 4 Doors
Office SF: 200 SF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: NNN Investment - Warehouse & Retail for Sale
Sale Terms: Cash to Seller
Cap Rate: 9.77%
Last Updated: 9/11/2017

Overview / Comments

This Retail and Warehouse Distribution Building includes four units that that are 100% leased. This property has a corner location and strong visibility to over 19,800 Cars Per Day. The building includes a Warehouse has a 16' Eave Height, Lay Down Yard, Six Roll-Up Doors, 3 Phase Power, 1 Grade level Entry, 1 Loading Ramp and 1 Dock High Door. Recent significant improvements to property include new roof 2008-2010, and new AC units in retail space and new roll-up doors in warehouse space in 2016.

• Zoned C-3 / C-1
• 100% Occupied
• 9.77% Cap Rate
• 3 Phase Power
• 16' Eave Height
• 4 Grade Level Door
• 1 Loading Ramp
• 2 Dock High Door
• 19,800 Cars Per Day
• Easy Access to I-110

Attachments & Media

Financials

Finance Data Year 2016
Potential Rental Income $55,129 (Annual)
Net Operating Income $53,662 (Annual)
Actual or Proforma Year Actual

Current Tenants

Tenant Business Name Craters and Freighters
Website URL https://www.cratersandfreighterspensacola.com/
Year Founded 1991
Tenant Business Name Saint Vincent de Paul's
Website URL https://www.svdpusa.org/
Year Founded 1933

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Escambia
Taxing Authority: Escambia County
Tax ID/APN: 000S009060007076 - 000S009060005076
Zoning: C-3 AND C-1
Property Located Between: West Cervantes Street & North I Street
Highway Access: Convenient access to I-110 from Cervantes Street.
Airports: Pensacola International Airport
Site Description: This 0.67 acre property is located at the southeast corner of Cervantes and "I" Street. The site has a slightly irregular shape, good utility, and is slightly above street grade.
Area Description: This property is conveniently located just West of downtown Pensacola on the corner of Cervantes St & "I" Street (6 Blocks East of Pace Blvd). This Property is a 2 minute drive to I-110.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Fair
Year Built: 1977
Year Renovated: 2014
Parking Ratio: 1.4 (per 1000 SF)
Parking Type: Surface
Total Parking Spaces: 20
Interior Description: The building is demised into four units that that are 100% leased by three tenants. The Warehouse has a 16' Eave Height, Lay Down Yard, Six Roll-Up Doors, 3 Phase Power, 1 Grade level Entry, 1 Loading Ramp and 1 Dock High Door. Recent significant improvements to property include new roof 2008-2010, and new AC units in retail space and new roll-up doors in warehouse space in 2016.
Zoning Description: C-3 and C-1
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,547 65,521 147,981
Median Age: 40.34 38.16 38.07
Households: 3,726 26,723 57,403
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