Downtown Multi-Tenant Office Building For Sale

Office for Sale
Sale Pending
Catylist Listing ID: 30098395
Property Subtypes: Office Building
Status: Pending
Building Size (RSF): 7,932 SF
Gross Building Area: See Agent
Sale Price: $1,250,000
Unit Price: $157.59 PSF
Property Use Type: Investment
Building Name: Downtown Multi-Tenant Office Building For Sale
Class of Space: Class B
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 8/15/2017

Overview / Comments

Multi-tenant office building for sale near the downtown Pensacola market. This is a rare chance to own a cash flowing office building in one of Pensacola's hottest markets. The building is very well located along the high traffic corridor of Cervantes Street. Neighbors include McDonald's, Walgreen's, Krispy Kreme, UPS Store and Oh Snap Cupcake Bakery. Publix grocery just opened their new store just a few blocks to the East.

The building has 7,932 rentable square feet with approximately 1,400 square feet of common area, which leaves 6,532 usable square feet. It was originally built in 1960 and completely renovated in 2006. Renovations included high quality interior finishes, new break room, new kitchen, male and female ADA compliant bathrooms as well as new HVAC units. The building has a fire sprinkler system and security system throughout.

- 100% Occupied Office Building
- 8% CAP
- Completely Renovated in 2006
- 40 Private Parking Spaces
- 24,000 Cars Per Day Traffic Count

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Escambia
Tax ID/APN: 000S009025001106
Zoning: C-1
Property Visibility: Excellent
Year Built: 1960
Roof Type: Flat
Construction/Siding: Stucco
Parking Type: Surface
Lot Frontage: 368
Legal Description: LTS 1 & 2 13 AND 14 BLK 106 NE W CITY TRACT OR 5995 P 1253 OR 7087 P 1331 OR 7176 P 1529 CA 67

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,994 49,242 127,674
Median Age: 41.44 41.44 38.11
Households: 3,322 20,923 49,788

Contact

Photograph of Listing Agent

Stacy Taylor, CCIM

Beck Partners CRE, LLC Gulf Coast CMLS Member
Photograph of Listing Agent

David K Monroe

Beck Partners CRE, LLC Gulf Coast CMLS Member
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