Ground Lease option at Michigan and Mobile Hwy

Vacant Land for Lease
Catylist Listing ID: 30209282
Property Subtypes: Hospitality, Office, Retail, Other
Gross Land Area: 0.80 Acres
Lease Rate: $2,758 (Monthly)
$0.95 PSF (Annual)
Lease Types: Ground Lease
Last Updated: 5/17/2021

Overview / Comments

Large corner lot (NWC Michigan & Louisville Ave) with easy ingress and egress in very high traffic area (30,500) near the intersection of Michigan Ave and Mobile Hwy.
Property and building formerly operated as Garrett's Hamburgers then as a seafood restaurant.
The building is structurally sound but the roof currently has major leak issues.
The value of this property is primarily in the land.
The building is on septic, but sewer access is immediately available at the property line.
Owner will entertain a ground lease on property.

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Escambia
Taxing Authority: Escambia County
Tax ID/APN: 42-1S-30-2101-011-029
Property Located Between: Louisville Ave and Montgomery Ave
Property Visibility: Excellent
Legal Description: Lengthy on file
Largest Nearby Street: Mobile Hwy
Feet of Frontage: 234
Traffic/Vehicle Count: 30,500
Highway Access: 2 blocks from Mobile Hwy
Airports: Pensacola International Airport
Site Description: Nice corner lot on Michigan and Louisville Ave. .8 Acre Lot is level and cleared with the older restaurant building situated on the east end of the lot.
Area Description: Growing with several new businesses recently built. The major intersection of Michigan and Mobile Hwy have Publix, KFC, Winn Dixie and McDonalds.
Lot Frontage: 234
Lot Depth: 163
Zoning Description: Commercial
Topography: Level
Easements: Ingress/Egress, Utilities
Easements Description: Typical utilities
Soil Type: Mixed
Available Utilities: Electric, Water, Sewer, Cable
Water Service: Municipal
Sewer Type: Septic

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,404 61,561 146,415
Median Age: 39.2 37.54 36.65
Households: 2,909 23,904 56,597


Photograph of Listing Agent

Glen D Fielder

EXIT Realty NFI - Pensacola Gulf Coast CMLS Member
Photograph of Listing Agent

Gary Watson, CCIM

EXIT Realty NFI-Commercial Gulf Coast CMLS Member
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