North Hill Development Opportunity

Retail-Commercial for Sale
Catylist Listing ID: 30533360
Property Subtypes: Free-Standing Building, Mixed Use, Other
Building Size (RSF): 45,955 SF
Gross Building Area: See Agent
Sale Price: $6,500,000
Unit Price: $141.44 PSF
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Undisclosed
Cap Rate: 11.89%
Last Updated: 3/9/2020

Overview / Comments

Creative Developers don't miss this Outstanding Opportunity to leverage an income producing asset into a long term redevelopment. This property, originally built in 1921 as the P.K Yonge School is currently occupied by the Florida Department of Law Enforcement (FDLE) as their regional operations center. Approximately two years remain on the current lease term. The property itself is almost an entire city block sitting on 2.77 acres in the prestigious, historic North Hill area of Pensacola, and located on north Palafox the northern gateway to downtown Pensacola.

This is a unique opportunity for a developer or user to earn significant returns over the next 24 months, while creating plans for re-positioning the property.

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Escambia
Tax ID/APN: 000S009010001163

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,452 62,359 142,138
Median Age: 40.28 39.24 38.02
Households: 4,304 26,067 55,753

Contact

Photograph of Listing Agent

Stacy Taylor, CCIM

Beck Partners CRE Gulf Coast CMLS Member
Photograph of Listing Agent

Justin A. Beck, CCIM, CPM

Beck Partners CRE, LLC Gulf Coast CMLS Member
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