Mixed Retail, Restaurant & Apartment Property

Retail-Commercial for Sale
Catylist Listing ID: 30393425
Property Subtypes: Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub
Building Size (RSF): 13,406 SF
Gross Building Area: See Agent
Gross Land Area: 1.24 Acres
Sale Price: $800,000
Unit Price: $59.67 PSF
Property Use Type: Investment
Building Name: Mixed Retail, Restaurant & Apartment Property
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 5/17/2019

Overview / Comments

This Pensacola landmark has a great location with frontage on Navy Blvd, Barrancas Av, Central and S. 1st Street! The property includes approximately 8,863 square feet of multi-tenant retail space with a 3 bedroom, 1-bath apartment on the second floor, and a separate 3,211 square foot restaurant with drive-thru (originally constructed as a Hardy's, and currently occupied by Mr. Teriyaki). Drive thru restaurant includes walk in cooler & freezer, 2 hood systems, grease traps, HVAC (28 tons), DSL/Cable/Phone and dining room package. 6 car D/T stack and 50 parking spaces. The hood system and AC unit in the restaurant building are approximately 5 years old. The retail buildings were constructed between 1929 and 1942, and the restaurant building was constructed in 1977. Long term tenants with below market leases that are currently on a month-to-month basis.

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Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Escambia
Taxing Authority: Escambia County
Tax ID/APN: 51-2S-30-7031-001-020 and 51-2S-30-7061-004-020
Zoning: COMMERCIAL
Retail Clientele: General
Property Located Between: Navy Blvd & Barrancas Av
Property Visibility: Good
Largest Nearby Street: Navy Blvd.
Traffic/Vehicle Count: 2,300
Airports: Pensacola International Airport
Site Description: This 1.24 acre site is comprise of two tax parcels, and includes frontage on Barrancas Avenue, South Navy Boulevard, Commerce Street, and South 1st Street. Great location near entrance to NAS, and in close proximity to the Pensacola Country Club, and just minutes from Downtown Pensacola. The site includes street parking along Barrancas Avenue with a large parking area behind the retail building and restaurant along Central and South 1st Street.
Area Description: This 1.24 acre site is comprised of two tax parcels and includes frontage on Barrancas Avenue, South Navy Boulevard, Commerce Street, and South 1st Street. Strong retail corridor near entrance to NAS, in close proximity to the Pensacola Country Club, and just minutes from Downtown Pensacola. High traffic count, 23,000 AADT (Navy), 24,000 AADT (Barrancas), FDOT avg annual daily traffic.
Total Number of Buildings: 6
Property Condition: Average
Year Built: 1929
Year Renovated: 1990
Parking Type: Surface
Parking Description: The site includes street parking along Barrancas Avenue with a large parking area behind the retail building and restaurant along Central and South 1st Street.
Sprinklers: Wet
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Legal Description: In file.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,937 49,504 110,823
Median Age: 38.34 35.12 36.37
Households: 3,923 18,094 41,979

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