7.0% CAP - NNN INVESTMENT
Expired Retail-Commercial
for Sale
| Catylist Listing ID: |
30294622 |
| Property Subtypes: |
Restaurant, Street Retail
|
| Building Size (RSF): |
3,987 SF
|
| Gross Building Area: |
See Agent |
| Gross Land Area: |
1.20 Acres
|
| Sale Price: |
$1,400,000 |
| Unit Price: |
$351.14 PSF |
| Property Use Type: |
Net Leased Investment (NNN), Investment |
| Building Name: |
7.0% CAP - NNN RESTAURANT INVESTMENT |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
7.0% |
| Last Updated: |
1/21/2021 |
Overview / Comments
This property is is listed at a 7% CAP rate with a Net Operating Income of $97,920 Annually. The lease is an investment grade 3 year term, NNN lease with 2% rental increases built in annually. The Juice Crab restaurant tenant is part of a 10 unit franchise restaurant group located throughout the Southeast. The concept is aggressively growing and focusing on new areas from Pensacola to Jacksonville.
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Additional Details
| Nearest MSA: |
Pensacola-Ferry Pass-Brent |
| County: |
Escambia |
| Tax ID/APN: |
081S301003005001 |
| Zoning: |
HC/LI - COM |
| Property Visibility: |
Excellent |
| Largest Nearby Street: |
9 Mile Road |
| Feet of Frontage: |
150 |
| Traffic/Vehicle Count: |
37,000 |
| Area Description: |
This property is located in one of the fastest growing areas of Pensacola, FL along 9 Mile Road near Hwy 29. 9 Mile road is one of the major thoroughfares connecting Santa Rosa and Escambia Counties. The 9 mile thoroughfare continues to grow as the Navy Federal, 9 Mile Campus, continues to grow to over 1 Million SF and 20,000 employees by 2020. The 9 Mile corridor is also the frontage road to The University of West Florida (12,979) Students. Hwy 29 in the north/south artery connecting Pensacola to I-65. The property is adjacent to Hancock Bank and near McDonalds, Applebee's, Dairy Queen, Whataburger, Krystal, Dunkin' Donuts, Popeyes, Wendy's, Arby's, Pizza Hut, KFC and the AMC Movie Theater |
| Tenancy: |
Single Tenant |
| Total Number of Buildings: |
1 |
| Number of Stories: |
1 |
| Property Condition: |
Excellent |
| Year Built: |
1999 |
| Total Parking Spaces: |
40 |
| Parking Type: |
Surface |
| Lot Frontage: |
150 |
| Lot Depth: |
300 |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
7,183 |
42,402 |
111,205 |
| Median Age: |
36.25 |
38.47 |
38.17 |
| Households: |
2,877 |
17,575 |
44,011 |
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