Catylist ID:
#30294622
| 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: | $1,350,000 |
| Unit Price: | $338.60 PSF |
| Property Use Type: | Net Leased Investment (NNN), Investment |
| Building Name: | 7.1% CAP - NNN RESTAURANT INVESTMENT |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 7.1% |
| Last Updated: | 11/13/2018 |
Overview / Comments
|
This property is is listed at a 7.1% CAP rate with a Net Operating Income of $96,000 Annually. The lease is an investment grade 5 year term, NNN lease with 2% rental increases built in annually starting in year 3. 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. |
Attachments & Media
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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