The Imogene Theatre + Surrounding Parcels

Retail-Commercial for Sale
Catylist Listing ID: 30569574
Property Subtypes: Mixed Use, Movie Theatre, Restaurant, Street Retail, Tavern/Bar/Nightclub
Building Size (RSF): 7,935 SF
Gross Building Area: See Agent
Gross Land Area: 0.79 Acres
Sale Price: $995,000
Unit Price: $125.39 PSF
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Building Name: The Imogene Theatre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/7/2020

Overview / Comments

One of the most iconic historic buildings in Northwest Florida, the Imogene has over a century of stories and music that have filled the theatre and served as the cultural hub for Downtown Milton. Painstakingly restored after a tragic fire in 2009, the theatre is much like it was when it was built in 1912, but with improvements that a modern performance venue would require. Updated with contemporary audio and light equipment, and equipped with an elevator to be made ADA accessible, the Imogene is fully functional and has been host to a variety of special events. With a legacy of performers like Hank Williams and Minnie Pearl, every act that graces the Imogene stage carries forward this special tradition.

In addition to the theatre, the building has a small commercial kitchen and dining area on the ground floor that could stand alone as a deli/restaurant, and support the needs of the theatre. Adjoining is a retail storefront space currently being used as a historic gallery for the Santa Rosa Historical Society, but could easily be combined for a larger dining area per the user's needs.

The building also has significant vacant land surrounding it that conveys that can easily accommodate much if not all of the parking needs. There is also the future potential of redeveloping some of the frontage for a new structure or to create an outdoor dining area for the existing commercial space on the ground floor.

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Santa Rosa
Taxing Authority: City of Milton
Tax ID/APN: 03-1N-28-2530-01900-0081
Retail Clientele: Recreation
Property Visibility: Excellent
Largest Nearby Street: Caroline Street
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Good
Year Built: 1912
Year Renovated: 2012
Roof Type: Flat
Construction/Siding: Brick
Parking Type: Surface
Passenger Elevators: 1
Sprinklers: Wet
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Legal Description: TOWN OF MILTON THAT PART OF LOT 8 BLK 19 AS DES OR 750 PG 5& COMBINED REQ 2016 DES AS:LOTS 5 & 7 BLK 19 AS DES IN OR2523 PG 1706 & OR 2959 PG 1026& OR 2959 PGS 1026 1028 & 1030LESS OR 1401 PGS 157 & 158(FOR PART OF LOT 7) LESS OR1945 PG 1189 LESS OR 3329 PG1837 (FOR 19/5.3) *(19/5.1)*& COMBINED REQ 2016 DES AS:THAT PORTION OF LOTS 6 7 & 9BLK 19 AS DES IN 2523 PG 1706& OR 2959 PGS 1026 1028 & 1030*(19/6.2)*

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,227 24,310 43,308
Median Age: 39.81 38.7 38.02
Households: 1,356 9,561 15,558

Contact

Photograph of Listing Agent

John David Ellis

Voyage Real Estate LLC Gulf Coast CMLS Member
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