Prime Freestanding Restaurant

Retail-Commercial for Sale
Catylist Listing ID: 30536021
Property Subtypes: Free-Standing Building, Restaurant, Street Retail
Building Size (RSF): 3,200 SF
Gross Land Area: 1.90 Acres
Sale Price: $895,000
Unit Price: $279.69 PSF
Property Use Type: Vacant/Owner-User
Building Name: Shane's BBQ
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/2/2019

Overview / Comments

*Confidential Listing* Prime, freestanding restaurant available in the heart of Pace, FL. The 3,200 SF building is situated on 1.91 acres along the bustling US-90, the main arterial in Pace. The restaurant is ideally located in the booming Pace market and is in close proximity to several new developments within the area. The property has incredible visibility and pylon signage on US-90 which experiences over 34,000 cars per day in front of the site. There is excellent ingress/egress with a median cut, 40 parking spaces, and expansion land behind the property. The restaurant has incredible amenities and would be an excellent, turnkey restaurant location for an owner/operator. The property features a newly installed roof, central HVAC, upgraded walk-in cooler and freezer compressors/condensers, upgraded fire suppression, men and women's restroom facilities, grease trap, upgraded electrical service and parking lot lighting, monitored alarm system, ample parking (40 spaces), expansion land for additional parking, and much more. The Landlord would consider leasing and selling the property.
*Please do not disturb the tenant as the restaurant is currently operating.

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Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Santa Rosa
Tax ID/APN: 13-1N-29-0000-02100-0000
Zoning: HCD
Retail Clientele: General, Family, Business
Property Visibility: Excellent
Largest Nearby Street: US-90
Feet of Frontage: 209
Traffic/Vehicle Count: 34,000
Area Description: Pace, Florida is located in Santa Rosa County along the Florida Panhandle. Pace is located just across the Escambia Bay from Pensacola, and due to its convenient proximity, has experienced population growth of over 170% from 2000-2010. Pace is also just 60 miles from Mobile, AL. In addition to its proximity to Pensacola as a whole, Pace is immediately across the bay from West Florida University, just 5 miles by bridge. West Florida is a growing public university with over 13,000 students. The 1,600 acre campus is the third-largest in the state university system. Colleges nearby include Northwest Florida State College, Pensacola State College, Locklin Technical Center, West Florida Technical School and George Stone Technical Center. The Pace community has a large military presence and a large population of the personnel resides in this immediate area. The site is in close proximity to several national retailers, restaurants, top-rated schools and colleges, health systems, parks, beautiful beaches, shopping, and entertainment. Pace is anchored by Pensacola, the legal, commercial, financial, and cultural center of Northwest Florida. Pensacola is a major tourist draw, due to its ideal weather and coastal location. It is a short drive from a number of renown beaches, including Orange Beach, Gulf Shores, Perdido Key, Santa Rosa Island, and Fort Walton Beach. Pensacola is also home to Naval Air Station Pensacola, and the largest credit union in the nation, the Navy Federal Credit Union. It is estimated that the Navy Federal Credit Union’s continued expansion of their operations will add 5,000 jobs and $350 million in capital investment to the region by 2026. Santa Rosa County saw unprecedented growth in 2018 and laid the groundwork for even more growth over the next five to 10 years. Santa Rosa County's population increased more than 15 percent between 2010 and 2018, higher than the rate for the entire state of Florida.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 3,200 SF
Property Condition: Excellent
Year Built: 2011
Total Parking Spaces: 40
Parking Type: Surface
Heat Source: Central
Lot Frontage: 209
Lot Depth: 400

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,993 31,559 52,656
Median Age: 36.77 37.94 38.7
Households: 1,810 11,926 20,283
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