***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

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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


Photograph of Listing Agent

Glen D Fielder

EXIT Realty NFI - Pensacola Gulf Coast CMLS Member
Photograph of Listing Agent

Gary Watson, CCIM

EXIT Realty NFI-Commercial Gulf Coast CMLS Member
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