Madison Park Office #12 & 13 for Sale / Investment

Office for Sale
Catylist Listing ID: 30344614
Property Subtypes: Office Building, Other
Building Size (RSF): 5,400 SF
Gross Building Area: See Agent
Sale Price: $488,000
Unit Price: $90.37 PSF
Property Use Type: Investment, Vacant/Owner-User
Class of Space: Class A
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 12/5/2018

Overview / Comments


Beautiful 2-story, multi-tenant, office building FOR SALE, renovated in 2017! This is the nicest property available in the centrally located Madison Park office park. The building consists of two separate tenant spaces; Unit 12 @ 1,230 SF is currently leased to a strong tenant in the middle of a 3 year lease with options; Unit 13 @ 4,170 SF was most recently occupied by a CPA and a law firm before that.

Property info: Full interior renovation in 2017; Roof replaced in 2005; Utilities split, pro-rata, between tenants; AC units new in 2017 & 2011; & many high end finishes.

Madison Park is located on the corner of Bayou Blvd and North 12th Ave which is adjacent Cordova Mall, the main Retail HUB in the Pensacola Market. The property is also less than a mile from Pensacola International Airport to the north & the Sacred Heart Hospital campus to the west.

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Escambia
Tax ID/APN: 331S307700000012 & 331S307700000013
Property Visibility: Excellent
Total Number of Buildings: 2
Number of Stories: 2
Year Built: 1983
Year Renovated: 2017
Roof Type: Gable
Construction/Siding: Brick/Vinyl Siding
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,449 76,346 144,539
Median Age: 40.8 39.17 38.28
Households: 2,776 31,244 60,073

Contact

Photograph of Listing Agent

Rick Locchead

Beck Partners CRE, LLC Gulf Coast CMLS Member
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