Shopping Center, 24 ft ceilings, 20 ft. roll up doors

Retail-Commercial for Sale
Catylist Listing ID: 30380368
Property Subtypes: Free-Standing Building, Parking Facility, Service Station/Gas Station, Vehicle Related, Other
Building Size (RSF): 21,502 SF
Gross Land Area: 10.79 Acres
Sale Price: $800,000
Unit Price: $37.21 PSF
Ceiling: 24 ft.
Property Use Type: Vacant/Owner-User
Building Name: Oreville Beckford Ford Mercury Dealership
Usable Size (USF): 21,502 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/2/2019

Overview / Comments

The FDOT has projected this site as the new corner for the realignment of US Hwy 90, Glover Lane and Old US Hwy 90. Currently in use as a shopping center for antiques with a small engine repair shop as a tenant, This 21,502 square foot building was used as an Auto Dealership and RV Repair Shop prior to the owner’s use as a shopping center.

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $9,506 (Annual)
Tax Value Land $449,631
Tax Value Improvements $157,550
Assessed Value - Total($) $607,181 (Annual)

Current Tenants

Is Renting? Yes
Annual Revenue $28,200 (Annual)
SF of Space Occupied 11,859 SF
Tenant Notes Tenant is month to month. Flat rate rent with additional flat utility cost.

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Santa Rosa
Taxing Authority: Santa Rosa County, City of Milton
Tax ID/APN: 09-1N-28-0000-05100-0000
Zoning: C-2—GENERAL COMMERCIAL ZONING DISTRICT
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention
Property Located Between: Glover Lane and US Hwy 90
Property Visibility: Excellent
Largest Nearby Street: US Hwy 90
Feet of Frontage: 335
Traffic/Vehicle Count: 34,500
Highway Access: Direct Ingress and Egress onto US Hwy 90. 1 mile to Avalon Blvd. 4.6 miles to Interstate 10
Airports: Pensacola International Airport, Naval Air Station Whiting Field
Site Description: Projected to become a hard corner (Glover Land and Hwy 90) by the Florida Dept. of Transportation (FDOT)
Area Description: The City of Milton is found within Santa Rosa County, and is one of the fastest growing counties in the U.S. The County also boasts high median household incomes, low business costs, top ranked school system and low crime rates according to the Santa Rosa EDC. Santa Rosa County is the 8th fastest growing County in the state with the 4th highest median income, and 1.9% per year population growth through 2025. The County also participates in a Retail Development Incentive Program. Qualifying retail developments are eligible for annual grant payments to the developer equal to the incremental amount of taxes collected. Grants are available for five or eight years depending on the size of the development.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Good
Year Built: 1986
Construction/Siding: Steel Frame
Exterior Description: Steel frame structure with metal siding and a metal roof. Rear of property includes 2 concrete pads (20x25, 36x30), 1 concrete ramp (32x9) and cleared field with access to additional rock parking in the rear. Roll up doors found on the east side of the building 2 (16x20), 2 on the north side (9x16) and 2 on the west side of the building 1(9x16) and 1(16x20). 28 flood lights surround the parking and building. Pylon sign and additional directional service sign located on the front of the property.
Parking Type: Surface
Parking Description: Asphalt Parking
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Cable, DSL, Satellite
Interior Description: 10,873 of open industrial/service space currently occupied by monthly tenant. Includes wall circulation fans and a self contained heater unit and insulated walls. Retail center includes 7,934 of first floor space with an additional 2,698 of 2nd floor space. Multiple A/C units replaced in 2018.
Zoning Description: C-2—General Commercial Zoning District. The C-2 General Commercial Zoning District is intended to accommodate those lands and structures used to provide for the retail of commodities and furnishings of selected services, trades and other commercial enterprises within the Planning Area. The C-2 District addresses primarily auto-oriented retail, both individual businesses and retail centers, with the intent of improving the pedestrian environment along the existing corridors. Limited mixed-use development with residential dwelling units above the ground floor and higher density, multi-family residential development may be allowed upon development authority approval.
Lot Frontage: 335
Lot Depth: 680
Water Service: Municipal
Sewer Type: Municipal
Easements: Electric Lines, Utilities
Easements Description: Lift Station and Overhead Electric Lines
Land Ownership: Owned
Legal Description: *NEW OVERALL DESCRIPTION FOR #51 ADDING #51.3 & #51.4 FOR 2019 PER SURVEY DES AS FOLLOWSCOM NW CORN OF SE4 OF NW4 SEC 9, TWSHP 1 NORTH, RNG 28 WEST ESTABLISHED BY PROPORTIONATE MEASURE BETWEEN EXISTING & ACCEPTED SEC CORNERS, SAID CORN LYING 25.85 FT E OF EXISTING 1 1/2 INCH PIPE AT THE POSITION OF SAID NW CORN OF SE4 OF NW4 ACCORDING TO DEEDS OF REC & SURVEYS BY OTHERS; THN S89*20'02"E 467 FT TO POB SAID PT BEING ON THE ELY R/W OF GLOVER LN THN CONT 822.61 FT THN S01*24'04"W 500.24 FT TO NLY R/W LI OF HWY 90 SAID PT BEING ON A CURV CNCV TO NW (R=5604.58 FT CHB=S43*46'55"W 258.50 FT) TO THE RIGHT 258.63FT THN N45*38'36"W 60.68 FT THN N00*41'29"W 331.68 FT THN S87*41'24"W 301.64 FT THN S00*20'31"E 176.50 FT THN S89*38' 35"W 280.54 FT THN N00*21'25"W512.50 FT TO POB (THE ABOVE DESC ENCOMPASSES #51.20 WHICH IS OWNED BY CITY OF MILTON) & ALL AS DES IN PART IN OR 354 PG 733 (DES FKA #51) & OR 450 PG 546 (DES FKA #51.2) & OR 758 PG 450 (DES FKA #51.3)

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,141 28,030 47,860
Median Age: 35.91 38.11 38.09
Households: 1,301 10,830 18,559

Contact

Photograph of Listing Agent

Melissa Glyptis Simpson

Coldwell Banker Commercial NRT Pensacola
Gulf Coast CMLS Member
© Copyright 2001-2019 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Gulf Coast CMLS nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.