Catylist ID:
#30871701
Prime Corner Retail in Pea Ridge
Retail-Commercial
for Sale
Sale Pending/Contingent
| Catylist Listing ID: | 30871701 |
| Property Subtypes: | Free-Standing Building, Street Retail, Other |
| Status: | Pending/Contingent |
| Building Size (RSF): | 3,239 SF |
| Gross Land Area: | 0.40 Acres |
| Sale Price: | $699,000 |
| Unit Price: | $215.81 PSF |
| Property Use Type: | Investment, Vacant/Owner-User |
| Sale Terms: | Cash to Seller, Purchase Money Mortgage |
| Cap Rate: | Undisclosed |
| Last Updated: | 4/29/2024 |
Overview / Comments
|
Exceptional retail/office building in the heart of the highly sought-after Pace/Milton area! This single story retail/office center offers a great opportunity for an investor or owner-user looking for an exceptional location in the Pace/Pea Ridge/Milton market. The 3,239 sf property sits at the lighted corner of School Lane/Bell Lane and Highway 90. The building has great visibility from Highway 90 with the ease of access from School Lane. Zoned HCD (Highway Commercial Development), it allows for a variety of uses in the retail or office arena. The brick building is currently used by a single tenant but could be divided into 4 units. It is currently 100% occupied, which demonstrates its strong appeal. The current tenant has a lease in place through November which will provide an opportunity for an owner-user to occupy or for an investor to adjust to market-rate rents and increase income potential. The property is located within a half mile of major retailers, such as Walmart and Lowe's, as well as national brands like Starbuck's, Chick-Fil-A, and Firestone. One of the standout features of this property is its proximity to major transportation arteries. Traffic count on Highway 90 is already more than 33,000 vehicles per day and there is development planned for Bell Lane that will continue to bring more vehicles to this location. The center is only a short 15-minute drive to the vibrant and bustling North Pensacola area and 25 minutes to Pensacola International Airport. Please do not disturb the tenant. Contact listing agents for showing instructions and access. |
Additional Details
| Nearest MSA: | Pensacola-Ferry Pass-Brent |
| County: | Santa Rosa |
| Taxing Authority: | Santa Rosa County |
| Tax ID/APN: | 12-1N-29-2390-00000-00B1 |
| Zoning: | HCD - HIGHWAY COMMERCIAL |
| Retail Clientele: | General, Family, Business, Recreation |
| Property Located Between: | Pace and Milton |
| Property Visibility: | Excellent |
| Largest Nearby Street: | Hwy 90 |
| Feet of Frontage: | 100 |
| Traffic/Vehicle Count: | 33,000 |
| Highway Access: | Located at the intersection of School Ln and Hwy 90. Minutes to I-10 and other state highways. |
| Airports: | PNS - Pensacola International Airport |
| Site Description: | Fully Developed lot with 3239 sf building and asphalt parking lot. Landscaping is well maintained. |
| Area Description: | The area is considered to be prime for retail, office, and service oriented businesses. The "Pea Ridge" cooridor between Pace, FL and Milton, FL is highly sought out and Santa Rosa County is one of the fasted growning ine State of Florida. |
| Tenancy: | Single Tenant |
| Total Number of Buildings: | 1 |
| Number of Stories: | 1 |
| Typical SF / Floor: | 3,239 SF |
| Property Condition: | Good |
| Year Built: | 2006 |
| Roof Type: | Flat |
| Construction/Siding: | Brick |
| Exterior Description: | Clean lines with awnings over storefront glass and a brick facade. |
| Total Parking Spaces: | 17 |
| Parking Type: | Surface |
| Parking Description: | Well maintained asphalt lot with entrance from School Ln (side street). |
| Sprinklers: | None |
| Heat Type: | Electricity |
| Heat Source: | Central |
| Air Conditioning: | Engineered System |
| Interior Description: | Currently built out as a fitness center. |
| Zoning Description: | HCD- Highway Commercial District |
| Lot Frontage: | 100 |
| Lot Depth: | 176 |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
| Land Ownership: | Corporate |
| Legal Description: | BEG SE CORN OF LT B METRON ES-TATES THN S89*36'42"E 100 FTTHN N 176 FT THN N89*36'42"W100 FT THN S 176 FT TO POB ASDES IN OR 2330 PG 1307 |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 4,993 | 28,817 | 55,651 |
| Median Age: | 36.77 | 37.87 | 38.54 |
| Households: | 1,810 | 10,873 | 21,456 |
Contact
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