Gulf Breeze Investment Property

Shopping Center for Sale
Catylist Listing ID: 30872560
Property Subtypes: Community Center, Neighborhood Center, Strip Center
Building Size (RSF): 10,300 SF
Gross Land Area: 1.34 Acres
Sale Price: $1,200,000
Unit Price: $116.50 PSF
Ceiling: 9 ft.
Property Use Type: Investment
Building Name: Bluewater Plaza
Usable Size (USF): 10,300 SF
Sale Terms: Cash to Seller
Cap Rate: 6.55%
Average Occupancy Rate: 100
Last Updated: 5/17/2024

Overview / Comments

VALUE ADD INVESTMENT PROPERTY located in Gulf Breeze! This is a 5-tenant shopping center located along Hwy. 98, directly across from Tiger Point subdivision.... Current cap rate is around 6.55%, yet with the ability to increase sooner, rather than later....! Building has a mixture of retail/office/warehouse. Prospective buyers/agents must sign an NDA prior to releasing financials. Rooftops surround the area with a current traffic count of 38,500 AADT (2023 FDOT). Parking lot had an overlay in 2023. Rare opportunity to purchase along the bustling Hwy. 98 in Gulf Breeze! DRG Featured!

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Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Santa Rosa
Taxing Authority: Santa Rosa County
Tax ID/APN: 27-2S-28-0180-00A00-0140
Zoning: HCD
Retail Clientele: General
Property Located Between: Gulf Breeze and Midway
Property Visibility: Excellent
Largest Nearby Street: Hwy. 98
Feet of Frontage: 210
Traffic/Vehicle Count: 38,500
Highway Access: Fronts Hwy. 98
Airports: Pensacola International Airport
Area Description: Located along Hwy. 98, directly across the highway from Tiger Point Country Club and subdivision.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 10,300 SF
Property Condition: Good
Year Built: 1997
Construction/Siding: Brick/Aluminum Siding
Exterior Description: Has a brick facade and metal paneling for the remainder.
Parking Type: Surface
Parking Description: Plenty of parking and just had a brand new overlay and re-striped.
Total Parking Spaces: 33
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Cable
Interior Description: 5-tenant shopping center. Mixture of retail/restaurant/office/showroom and warehouse.
Zoning Description: HCD (Highway Commercial Development District); Zoning appropriate for type of existing tenants in place...
Lot Frontage: 210
Lot Depth: 300
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Owned
Legal Description: BAL ALEX ESTATES LOTS 14 15 BLK A AS DES INOR 1577 PG 844

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,462 14,838 23,758
Median Age: 44.65 42.97 42.97
Households: 1,792 6,065 9,599

Contact

Photograph of Listing Agent

Logan DeVries, MiCP, CPM

DeVries Realty Group, LLC Gulf Coast CMLS Member
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