Professional Office Building

Office for Sale
Sale Pending/Contingent
Catylist Listing ID: 30024140
Property Subtypes: Medical, Office Building
Status: Pending/Contingent
Building Size (RSF): 15,096 SF
Gross Land Area: 1.26 Acres
Sale Price: $1,299,000
Unit Price: $86.05 PSF
Ceiling: 12 ft.
Property Use Type: Vacant/Owner-User
Class of Space: Class B
Usable Size (USF): 15,096 SF
Sale Terms: Cash to Seller, Sale/Leaseback
Cap Rate: Undisclosed
Last Updated: 6/25/2018

Overview / Comments

This property is for sale or lease. The building was built in 1996 and used by AT&T as the regional offices for several years. It is a two story office building with a nice reception and waiting area at the entrance. The total size is about 15,096-sf. The first floor is about 9,870-sf which includes a heated and cooled finished garage area, and the upper level is about 5,226-sf. (the area and dimensions were taken from the public records and should be verified by the buyer).
It is presently vacant and ready for occupancy. Traffic (AADT) volume is 28,500 vehicles per day. The sellers will consider some renovations and remodeling to a qualified buyer.

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Escambia
Taxing Authority: City of Pensacola, Escambia County, FL
Tax ID/APN: 33-1S-30-1101-004-001
Property Located Between: Otter Point Road to the west and College Parkway to the east
Highway Access: Airport Boulevard and Otter Point Road
Airports: Pensacola International
Site Description: The site is irregular shape with about 300 front feet on Airport Boulevard and 175 feet along Otter Point Road. The site is level and above the grade of Airport Boulevard providing excellent visibility and exposure. The two points of ingress/egress are along Airport Boulevard and Otter Point Road.
Area Description: Located in Northeast Pensacola where many large retailers are found including Cordova Mall, Lowes, Sams Club, Barnes & Noble, Hilton Garden Inn, Gander Mountain, Cordova Mall, Sacred Heart Hospital and related medical offices as well as many other large retailers. There is a large presence of multi and single family residential developments. This area of Pensacola is considered the primary shopping and residential of Pensacola.
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 1996
Roof Type: Flat
Construction/Siding: Stucco
Exterior Description: Two story white exterior stucco finish, slab on grade, metal roof cover, rigid steel roof framing, Central heating and cooling and 12 eave height.
Parking Ratio: 3.4 (per 1000 SF)
Parking Type: Surface
Parking Description: 50+/- market asphalt paved surface parking spaces. Parking ratio is calculated at 3.44 spaces per 1,000-sf of building area (15,096-sf) or about 1 space per 290-sf of building.
Total Parking Spaces: 50
Passenger Elevators: 1
Sprinklers: Wet
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Evaporative Cooler
Interior Description: The first floor consist mostly of offices however there is a reception / waiting area, conditioned garage/storage area. The upper level is mostly office area. The upper level is accessed via one elevator and stairs located in the rear area of the building.
Zoning Description: The R-2, residential/office land use district is established for the purpose of providing for a mixture of residential housing types and densities and office uses. Residential and office uses shall be allowed within the same structure. When the R-2 zoning district is located in older, developed areas of the city, the zoning regulations are intended to provide for residential or office infill development at a density, character and scale compatible with the surrounding area. In some cases the R-2 district is also intended as a transition area between commercial and residential uses.
Lot Frontage: 300
Lot Depth: 175
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple ownership
Legal Description: The legal description is lengthy metes and bounds description which is a portion of Section 33, Township 1 South, Range 30 West. It is identified by the public tax records as Parcel Reference # 33-1S-30-1101-004-001 of Escambia County, Florida.

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,986 77,516 159,761
Median Age: 31.2 37.58 38.38
Households: 4,201 31,087 65,448


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