Catylist Listing ID: 30344191
Property Subtypes: Executive Suites, Mixed Use, Office Building
Building Size (RSF): 7,000 SF
Gross Building Area: See Agent
Sale Price: $1,995,000
Unit Price: $285 PSF
Ceiling: 10 ft.
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Palafox Pier
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Last Updated: 11/27/2018

Overview / Comments

Waterfront investment opportunity! Palafox Pier is one of Pensacola's premier office locations, situated at the south end of Palafox, overlooking Pensacola Bay. The current offering is for the entire 1st floor of 890 S. Palafox, approximately 7,000 sqft of Class 'A' office space. The current tenant mix includes Morgan Stanley, TD Ameritrade, and Innovative MRI. Based on the current leases, this is a 7% cap rate, with a NOI over $138,000, net to the Landlord.

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Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Escambia
Taxing Authority: City Of Pensacola
Tax ID/APN: 000S009125000018
Zoning: WRD, COMMERCIAL
Property Located Between: South end of Palafox St.
Property Visibility: Excellent
Total Number of Buildings: 1
Year Built: 2003
Year Renovated: 2012
Roof Type: Hip
Construction/Siding: Brick, Steel Frame, Stucco
Parking Type: Surface
Sprinklers: Wet
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable, DSL
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,327 35,750 109,374
Median Age: 45.72 40.88 37.45
Households: 1,227 15,451 41,563
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