Nine Mile Road Office Building

Office for Sale
Sale Pending/Contingent
Catylist Listing ID: 30856112
Property Subtypes: Office Building, Research & Development
Status: Pending/Contingent
Building Size (RSF): 5,139 SF
Gross Land Area: 1.18 Acres
Sale Price: $949,900
Unit Price: $184.84 PSF
Property Use Type: Investment, Vacant/Owner-User
Building Name: 410 West Nine Mile Road
Class of Space: Class C
Usable Size (USF): 5,139 SF
Sale Terms: Cash to Seller
Cap Rate: 5.72%
Average Occupancy Rate: 100
Last Updated: 3/26/2024

Overview / Comments

This offering is extended to buyers that may be value-add investors and/or Owner-Users. The tenant occupying Suites “A” and “B” is a long-time tenant continuing to occupy the space with a short-term lease. This tenant is willing to negotiate a longer-term lease or vacate the space with a ninety days’ notice. The lease term for Suite “C” expires in May 2024.

The subject building improvements were constructed in 2000 and contain approximately 5139 SF, overall. The building was designed and constructed as a multi- tenant office building consisting of three lease spaces. In general, the building is frame construction on slab; exterior walls are an attractive combination of brick & stucco; 9’ story height; and hip [high pitch] roof.

Suite “A” is designed with a large reception area, seven offices of varying sizes, and two restrooms.

Suite “B” [currently combined with Suite “A”] is designed with an entry foyer, eight offices of varying sizes, large common area and kitchenette, one restroom, and one restroom converted to a Comms Room [plumbing connections remain in place].

Suite “C” is designed with a secure vestibuled reception area, six offices of varying sizes, large common/bullpen area, two restrooms and kitchen/break room.

All three suites are constructed with similar finishes including neutral painted drywall, commercial grade carpeting and LVT flooring, crown molding, baseboards, individual HVAC systems, and adequate lighting and electrical fixtures typical of suburban office buildings.

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Escambia
Taxing Authority: Escambia County
Tax ID/APN: 091S302101092008
Zoning: HC/LI
Property Located Between: 0.21 miles west of the intersection of Nine Mile Road and Highway 29.
Property Visibility: Excellent
Highway Access: Nine Mile Road and Highway 29
Airports: Pensacola International Airport
Site Description: The subject site is located on the north side of Nine Mile Road approximately 0.21 miles from its intersection with Pensacola Boulevard. The subject site consists of 150 feet of frontage on Nine Mile Road with a depth of approximately 300 feet. The site is rectangular in shape and contains, according to the Escambia Property Appraiser’s Office, approximately 1.177 acres [51270 SF]. The site is basically level, above street grade and has all utilities available to the site. This site is zoned Heavy Commercial and Light Industrial District (HC/LI); and the Future Land Use designation is Commercial. There are approximately 27 asphalt paved parking spaces with additional non-paved parking.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 5,139 SF
Year Built: 2000
Roof Type: Hip
Construction/Siding: Brick, Stucco
Exterior Description: Attractive combination of stucco and brick veneer.
Parking Type: Surface
Parking Description: 27 spaces including 2 handicapped spaces + some adjoining overflow gravel parking
Air Conditioning: Package Unit
Zoning Description: The heavy commercial and light industrial (HC/LI) district establishes appropriate areas and land use regulations for a complementary mix ofindustrial uses with a broad range of commercial activities. The primary intent of the district is to allow light manufacturing, large-scale wholesale and retailuses, major services, and other more intense uses than allowed in the commercial district. The variety and intensity of non-residential uses within the HC/LIdistrict is limited by the applicable FLU and their compatibility with surrounding uses. All commercial and industrial operations are limited to the confines of buildings and not allowed to produce undesirable effects on other property. To retain adequate area for commercial and industrial activities, other uses within the district are limited. *Excerpt from Escambia County Code of Ordinances. Refer to Sec. 3-2.11 - Heavy commercial and light industrial district (HC/LI) attached.
Legal Description: See attached documents

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,783 44,870 104,636
Median Age: 37.14 39.62 37.9
Households: 1,138 18,048 41,138

Contact

Photograph of Listing Agent

G. Jeff White

Connell & Company Realty, Inc.
Gulf Coast CMLS Member
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