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
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.

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

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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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