***Reduced from $425,000 - Lot at Michigan and Mobile Hwy - Zoned COM
Retail-Commercial
for Sale
| Catylist Listing ID: |
30020915 |
| Property Subtypes: |
Convenience Store, Free-Standing Building, Mixed Use, Restaurant, Tavern/Bar/Nightclub
|
| Building Size (RSF): |
2,428 SF
|
| Gross Building Area: |
3,103 SF |
| Gross Land Area: |
0.80 Acres
|
| Sale Price: |
$250,000 |
| Unit Price: |
$102.97 PSF |
| Property Use Type: |
Vacant/Owner-User |
| Building Name: |
Formerly "Garrett's Grill" |
| Usable Size (USF): |
2,428 SF |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
5/17/2021 |
Overview / Comments
|
*** Great reduction in Price from $425,000 - Large corner lot (NWC Michigan & Louisville Ave) with easy ingress and egress in very high traffic area near the intersection of Michigan Ave and Mobile Hwy. Property and building formerly operated as Garrett's Hamburgers then as a seafood restaurant. The building is structurally sound but heavily damaged inside due to the roof that has leak issues. The value of this property is primarily in the land. The building is currently on septic, but sewer access is immediately available at the property line. Owner will entertain a ground lease on property.
|
Additional Details
| Nearest MSA: |
Pensacola-Ferry Pass-Brent |
| County: |
Escambia |
| Taxing Authority: |
Escambia County |
| Tax ID/APN: |
42-1S-30-2101-011-029 |
| Zoning: |
COM |
| Retail Clientele: |
General, Business |
| Property Located Between: |
Near intersection of Mobile Highway and Michigan Avenue |
| Property Visibility: |
Excellent |
| Largest Nearby Street: |
Michigan Avenue / Mobile Highway |
| Feet of Frontage: |
234 |
| Traffic/Vehicle Count: |
30,500 |
| Highway Access: |
Fronts on Michigan Ave (Co Road 296) |
| Airports: |
Pensacola International |
| Site Description: |
Flat with gravel parking lot. Existing building on North property line. |
| Area Description: |
High traffic (30,500 / day) area near busy business corridor at Mobile Hwy and Michigan Avenue. There are several sites of new business construction in the area |
| Tenancy: |
Single Tenant |
| Total Number of Buildings: |
1 |
| Number of Stories: |
1 |
| Typical SF / Floor: |
2,428 SF |
| Property Condition: |
Fair |
| Year Built: |
1961 |
| Roof Type: |
Flat |
| Construction/Siding: |
Block, Wood Frame |
| Exterior Description: |
Concrete block |
| Total Parking Spaces: |
20 |
| Parking Ratio: |
8.2 (per 1000 SF) |
| Parking Type: |
Surface |
| Parking Description: |
Gravel & Asphalt |
| Sprinklers: |
None |
| Heat Type: |
Electricity |
| Heat Source: |
Central |
| Air Conditioning: |
Engineered System |
| Internet Access: |
Cable |
| Interior Description: |
Interior is somewhat dated with ceiling issues due to roof leakage. Consist of paneling on the walls and slab structure under indoor/outdoor carpet |
| Zoning Description: |
COM - Commercial |
| Lot Frontage: |
234 |
| Lot Depth: |
163 |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal, Septic |
| Easements: |
Utilities |
| Easements Description: |
Of Record |
| Land Ownership: |
Fee Simple |
| Legal Description: |
Lengthy In File |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
7,404 |
61,561 |
146,415 |
| Median Age: |
39.2 |
37.54 |
36.65 |
| Households: |
2,909 |
23,904 |
56,597 |
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