Palafox Pier Suite 106-108 For Sale
Office
for Sale
| Catylist Listing ID: |
30869637 |
| Property Subtypes: |
Executive Suites, Mixed Use, Flex Space, Net Leased, Office Building, Other
|
| Building Size (RSF): |
3,500 SF
|
| Sale Price: |
$1,290,000 |
| Unit Price: |
$368.57 PSF |
| Ceiling: |
10 ft. |
| Property Use Type: |
Net Leased Investment (NNN), Investment |
| Building Name: |
Palafox Pier |
| Class of Space: |
Class A |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
6.76% |
| Average Occupancy Rate: |
100 |
| Last Updated: |
4/8/2024 |
Overview / Comments
|
Introducing an exceptional investment opportunity in downtown Pensacola, this meticulously maintained 3,500 SF building comprises two units. It offers a stable and reliable income stream with a solid history of 100% occupancy and strong rental demand. Built-in 2003, the property exudes a modern and professional appearance, creating a prestigious environment ideal for an office building investor. With commercial zoning and a prime location, this property represents a secure and lucrative investment, making it an attractive prospect for investors seeking long-term financial growth in the vibrant Pensacola market.
|
Current Tenants
| Tenant Business Name |
Morgan Stanley |
| Website URL |
https://www.morganstanley.com/ |
| Industry Type |
Finance and Insurance |
| Is Renting? |
Yes |
| Suite Number |
106,107 |
| SF of Space Occupied |
2,418 SF |
| Options |
Two Five-year Options |
| Tenant Business Name |
Asesinato, LLC |
| Is Renting? |
Yes |
| Suite Number |
108 |
| SF of Space Occupied |
1,054 SF |
| Options |
Two Three-year options |
Additional Details
| Nearest MSA: |
Pensacola-Ferry Pass-Brent |
| County: |
Escambia |
| Taxing Authority: |
City Of Pensacola |
| Tax ID/APN: |
000S009125000018,000S009125000019,000S009125000020 |
| Zoning: |
WRD, COMMERCIAL |
| Property Visibility: |
Excellent |
| Airports: |
Pensacola International Airport |
| Site Description: |
Prime waterfront property with excellent visibility and easy access along S Palafox St (5,700 AADT) and Main St (17,000 AADT). In the heart of downtown Pensacola, this location is close to the Blue Wahoo’s Stadium, many local restaurants, and several of Pensacola’s historic sites. Overlooking the water and the Plaza De Luna Memorial Monument, this is an excellent location for an executive office.
|
| Total Number of Buildings: |
1 |
| Number of Stories: |
4 |
| Year Built: |
2003 |
| Year Renovated: |
2012 |
| Construction/Siding: |
Stucco |
| Parking Type: |
Surface |
| Heat Source: |
Central |
| Air Conditioning: |
Other |
| Interior Description: |
Office set up for Morgan Standly and Asesinato. |
| Zoning Description: |
The waterfront redevelopment district is established to promote redevelopment of the city's downtown waterfront with a compatible mixture of water-dependent and water-related uses that preserve the unique shoreline vista and scenic opportunities, provide public access, create a cultural meeting place for the public, preserve the working waterfront activities historically located in the waterfront area, and encourage a high quality of site planning and architectural design. Site specific analysis of each development proposal within the district is intended to ensure that the scenic vistas and marine-oriented image of the district are maintained, that the development character of the waterfront is upgraded and that the boundaries of the adjacent special districts are positively reinforced. Information can be found in The Municode Sec. 12-3-1 Redevelopment land use district City of Pensacola. |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Legal Description: |
SUITE 106 PALAFOX PIER & YACHT HARBOUR CONDOMINIUM ALSO 1.569% INT IN COMMON ELEMENTS OR 8218 P 1994.
Legal Description
SUITE 107 PALAFOX PIER & YACHT HARBOUR CONDOMINIUM ALSO 1.538% INT IN COMMON ELEMENTS OR 8218 P 1994.
SUITE 108 PALAFOX PIER & YACHT HARBOUR CONDOMINIUM ALSO 1.532% INT IN COMMON ELEMENTS OR 8218 P 1994
|
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
2,327 |
35,750 |
109,374 |
| Median Age: |
45.72 |
40.88 |
37.45 |
| Households: |
1,227 |
15,451 |
41,563 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither Gulf Coast CMLS nor
Moody's assume any liability for errors or omissions.
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