1521 N 9th Ave (Leased Investment)

Retail-Commercial for Sale
Catylist Listing ID: 30204312
Property Subtypes: Free-Standing Building, Restaurant, Other
Building Size (RSF): 3,071 SF
Gross Land Area: 0.47 Acres
Sale Price: $430,500
Unit Price: $140.18 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: 1521 N 9th Ave (NW Corner of 9th Ave @ Lee St)
Usable Size (USF): 3,071 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/15/2018

Overview / Comments

3,071 SF leased freestanding office building on 0.47 acre corner parcel in upscale East Hill, within City limits, zoned mostly C-1 with a sliver of R-1. 123' on N 9th Avenue and 168.15' on East Lee Street. Currently being renovated. Side parking lot along Lee Street. Leased to coffee Shop tenant for 5 years, through 12/31/22 at $2,800/month, NNN.

Financials

Finance Data Year 2017
Gross Operating Income $33,600 (Annual)
Net Operating Income $27,240 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Escambia
Taxing Authority: City of Pensacola
Tax ID/APN: 00-0S-00-9025-040-177
Zoning: C-1
Retail Clientele: General, Family, Business
Property Located Between: 9th Ave and Lee Street
Property Visibility: Excellent
Largest Nearby Street: 9th Avenue
Feet of Frontage: 123
Traffic/Vehicle Count: 16,900
Airports: Pensacola International Airport
Site Description: NW Corner of 9th Ave @ Lee Street in East Hill
Area Description: East Hill is an upscale historic neighborhood with many office and retail/artistic neighborhood businesses.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 3,071 SF
Property Condition: Good
Year Built: 1918
Year Renovated: 2017
Total Parking Spaces: 10
Parking Type: Surface
Parking Description: Private lot on Loo Street frontage
Zoning Description: C-1, City of Pensacola
Lot Frontage: 123
Lot Depth: 168.15
Water Service: Municipal
Sewer Type: Municipal
Legal Description: On File

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,928 51,109 134,037
Median Age: 40.96 41.43 37.98
Households: 4,507 21,932 52,615

Contact

Photograph of Listing Agent

Bill Ogburn

SVN | Southland Commercial Real Estate
Gulf Coast CMLS Member
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