Fully Leased Cordova Complex for Sale

Retail-Commercial for Sale
Catylist Listing ID: 30872943
Property Subtypes: Retail-Pad
Building Size (RSF): 7,436 SF
Gross Building Area: See Agent
Gross Land Area: 0.93 Acres
Sale Price: $3,790,000
Unit Price: $509.68 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: Cordova Complex
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Average Occupancy Rate: 100
Last Updated: 6/13/2024

Overview / Comments

Property Description
NNN Asset Fully leased! Long-term credited tenants (some has been here for 15+ years!) with 5 to 10 year leases. Over the past 18 months there has been over $1,000,000 in capital improvements including brand new lighted pylon signage, landscaping and every unit and been remodeled and updated. This space is an amazing investment opportunity in the best corridor of Pensacola!

Location Description
Located on Primary Travel Corridor in Pensacola, FL directly across the street from Starbucks and Chick-fil-A. The center is surrounded by strong national retailers like Publix, Winn Dixie, Michael's, Office Depot, ABC Fine Wine and Spirits, McDonald’s, Olive Garden, Panera Bread and more!

Property Highlights
Prime location in the Cordova Business District
Available space for lease is ready to brand and open for business right away!
Easy travel to I110 and other nearby highways
Variety of restaurants and grocers within walking distance
Zoned C1
Easy ingress/egress.
7,436 sq. building for sale
100% Leased
0.93 Acre parcel
Long-term Credited Tenants with 5 to 10 years leases
Located near the busy Bayou Blvd across from Starbucks, Chic fila, Cordova Mall, Sacred Heart Hospital and Publix
Strong traffic counts
Surrounded by Retail shops and Medical offices Excellent Daytime Employment numbers Densely populated area
Zoned “C1,” this is a general commercial zone that provides a wide range of goods and services for Retail Commercial.

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Escambia
Taxing Authority: Escambia County
Tax ID/APN: 331S307200000023
Zoning: C-1
Retail Clientele: General, Business, Other
Property Visibility: Excellent
Largest Nearby Street: Bayou Blvd
Feet of Frontage: 100
Traffic/Vehicle Count: 24,500
Highway Access: 1.5 Miles from I-110
Airports: 1.3 Miles from Pensacola International Airport
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Excellent
Roof Type: Gable
Construction/Siding: Brick
Parking Type: Surface
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable
Zoning Description: RETAIL COMMERCIAL (C-1)
Lot Frontage: 100
Lot Depth: 405
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Escambia County Property Appraiser 331S307200000023 - Full Legal Description COMMENCE AT THE POINT OF INTERSECTION OF THE SLY R/W LI OF BAYOU BLVD SR #296 (100 FT R/W) AND THE ELY ROW LI OF NINTH AVE SR #289 (100 FT R/W) THENCE S 64 DEG 56 MIN 30 SEC E ALONG THE SAID SLY R/W LI OF BAYOU BLVD FOR 594.92 FT TO THE POINT OF A CIRCULAR CURVE CONCAVE TO THE SOUTHWEST HAVING A RADIUS OF 2807.06 FT THENCE SE ALONG THE ARC OF SAID CURVE FOR AN ARC DISTANCE OF 215.27 FT (CHORD DISTANCE OF 215.22 FT CHORD BEARING OF S 62 DEG 44 MIN 41 SEC E) TO THE MOST ELY CORNER OF THE PROPERTY DEEDED TO FAB REALTY CO ACCORDING TO THE DEED RECORDED IN OFFICIAL RECORD BOOK 878 AT PAGE 849 OF THE PUBLIC RECORDS OF ESCAMBIA COUNTY FLORIDA FOR THE POB THENCE CONTINUE ALONG THE SAID ARC BEING THE SAID SLY R/W LINE OF BAYOU BLVD FOR AN ARC DISTANCE OF 100.46 FT (CHORD DISTANCE OF 100.45 CHORD BEARING S 59 DEG 31 MIN 21 SEC E) THENCE S 25 DEG 03 MIN 30 SEC W FOR A DISTANCE OF405.78 FT TO A POINT ON THE NLY R/W OF DODSON DR (60 FT R/W) SAID POINT BEING ON THE ARC OF A CIRCULAR CURVE CONCAVE TO THE SW HAVING A RADIUS OF 1486.55 FT THENCE NWLY ALONG THE ARC OF SAID CURVE BEING ALSO THE SAID NLY R/W LI FOR AN ARC DIST OF 100.53 FT (CHORD DISTANCE 100.51 FT CHORD BEARING N 59 DEG 08 MIN 48 SEC W) THENCE N 25 DEG 03 MIN 30 SEC E ALONG THE SE LI OF THE SAID FAB REALTY CO PROPERTY FOR A DISTANCE OF 405.12 FT TO THE POB CONTAINING 0.93 AC MORE OR LESS SEC 50 T1S R 30 OR 8664 P 978 SHEET G

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,982 72,865 155,512
Median Age: 40.41 39.08 38.17
Households: 3,278 29,916 63,933

Contact

Photograph of Listing Agent

Mehdi Moeini

Bay City Realty LLC Gulf Coast CMLS Member
Photograph of Listing Agent

Wendi Summers Sampson

Bay City Realty LLC Gulf Coast CMLS Member
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