Lakeview Inn Restaurant Building

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30336925
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Retail-Pad
Status: Pending/Contingent
Building Size (RSF): 5,870 SF
Gross Building Area: 7,374 SF
Gross Land Area: 1.73 Acres
Sale Price: $324,900
Unit Price: $55.35 PSF
Property Use Type: Vacant/Owner-User
Building Name: Lakview Inn
Usable Size (USF): 7,374 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/7/2020

Overview / Comments

The subject property is improved with a wood frame building with a brick fa├žade constructed in 1980. The subject building improvements contain approximately 7,374+/- SF, overall. This building is basically one-story and is divided into patron/dining and kitchen areas (+/-5,870 SF; open porch (+/- 1,364 SF); and utility areas (+/- 140 SF). The subject building has a fairly common exterior design for a dine-in restaurant building. Other restaurants or commercial users could probably use this facility with little or no modifications. Site improvements include an asphalt parking/drive area surrounding the subject building improvements. The site is nicely landscaped on all four sides of the building improvements. There is ample parking inclusive of handicap spaces.

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Escambia
Taxing Authority: Escambia County
Tax ID/APN: 172S316000000001
Retail Clientele: General, Family, Business, Tourist, Recreation
Property Located Between: S. Blue Angel Parkway and Lillian Highway
Property Visibility: Good
Largest Nearby Street: S. Blue Angel Parkway
Feet of Frontage: 233
Traffic/Vehicle Count: 10,300
Highway Access: The subject may be accessed directly via US Highway 98 West on the west side and east sides of the subject property.
Airports: Pensacola International Airport
Site Description: The subject site is basically a rectangle with 233' along U.S. Highway 98 West with a depth of 323 feet.
Area Description: The subject market area is located in the commercial center of southwest Pensacola. The primary draw for traffic to this area is nearby residential uses, NAS Pensacola Mainside to the south, military training schools, Navy Hospital, and new VA Hospital north of the subject property on U.S. Highway 98, and the Perdido Key destination resort area, which begins across the Baars Bridge approximately 9 miles southwest of the subject. The southwest Pensacola area is dominated economically by a high level of military employment at NAS Pensacola Mainside, Saufley, and Corry Fields, which are all strategic, active military training and education centers. Continued expansion of facilities and functions at these bases in recent years has contributed to substantial West Pensacola population increases, supporting rapid single-family development, which is most closely reflected by the completion of a Walmart Superstore and Target roughly two miles west of the subject property.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 5,870 SF
Property Condition: Fair
Year Built: 1980
Roof Type: Gable
Construction/Siding: Brick
Parking Type: Surface
Heat Type: Natural Gas
Zoning Description: According to the Escambia County Development code, he high density mixed-use (HDMU) district establishes appropriate areas and land use regulations for a complimentary mix of high density residential uses and compatible nonresidential uses within urban areas. The primary intent of the district is to provide for a mix of neighborhood retail sales, services and professional offices with greater dwelling unit density and diversity than the low density mixed-use district. Additionally, the HDMU district is intended to rely on urban street connectivity and encourage vertical mixes of commercial and residential uses within the same building to accommodate a physical pattern of development characteristic of village main streets and older neighborhood commercial areas. Residential uses within the district include all forms of single- family, two-family and multifamily dwellings.
Water Service: Municipal
Sewer Type: Municipal, Septic

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,925 31,105 82,955
Median Age: 38.52 36.26 35.54
Households: 1,115 12,167 30,147


Photograph of Listing Agent

G. Jeff White

Connell & Company Realty, Inc.
Gulf Coast CMLS Member
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