Berryhill Strip Center

Shopping Center for Sale
Catylist Listing ID: 30345042
Property Subtypes: Community Center, Fashion/Specialty, Mixed Use, Neighborhood Center, Strip Center
Building Size (RSF): 13,860 SF
Gross Land Area: 1.89 Acres
Sale Price: $750,000
Unit Price: $54.11 PSF
Ceiling: 10 ft.
Property Use Type: Investment
Building Name: Berryhill Plaza
Usable Size (USF): 13,860 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/2/2019

Overview / Comments

The subject property is improved with a pre-engineered metal building with glass store fronts. The subject building improvements contain approximately 13,860 SF, overall. This building is basically one-story and is divided into twelve suites, “A” thru “L”. Each suite is 100% heated and cooled. The center was built in 2004 and has been routinely maintained. The building design features 12 units ranging in size from 1,155 SF – 2,310 SF. The project has not had benefit of an ongoing marketing effort for several months; therefore, there are two vacancies in the center. With the implementation of a professional and effective leasing & management program, the project should reach an acceptable level of occupancy in a short period of time. This center would be an excellent income producer considering the projects location along Berryhill Road across from Santa Rosa Medical Center and newly constructed United Bank.

Project Total Gross Potential Income- $106,920

Current Tenants

Tenant Business Name Suite "A"
Annual Revenue $9,600 (Annual)
SF of Space Occupied 1,155 SF
Current Rent $8 PSF (Annual)
Tenant Notes SUITE “A” (Leased): consists of approximately 1,155± SF divided into waiting/reception; 3-4 offices and restroom. This suite is currently occupied with a massage therapy business This space is finished with painted drywall, commercial carpet and tile flooring, dropped acoustical tile ceilings with recessed fluorescent light fixtures. The front entry is finished with glass windows & entry doors in metal frames; there is a metal door for rear entry access. The ceiling height is roughly 10 feet.
Tenant Business Name Suite "B"
Annual Revenue $10,800 (Annual)
SF of Space Occupied 1,155 SF
Current Rent $9 PSF (Annual)
Tenant Notes SUITE “B” (Vacant): consists of approximately 1,155± SF divided into two areas. This suite is ideally suited for a restaurant/coffee shop or a business operation requiring separate areas for work/assembly separate from patrons. This space has painted drywall, tile flooring, dropped acoustical tile ceilings with recessed fluorescent light fixtures, and two restrooms. The front entry is finished with glass windows & entry doors in metal frames; there is a metal door for rear entry access. The ceiling height is roughly 10 feet.
Tenant Business Name Suite "C" and "D"
Is Renting? Yes
Annual Revenue $15,300 (Annual)
SF of Space Occupied 2,310 SF
Current Rent $7 PSF (Annual)
Tenant Notes SUITES “C” AND “D” (Leased): consists of two units or approximately 2,310± SF divided into two areas. This suite is currently used as a church. From my limited inspection of the spaces, they are both all open areas joined by a finished single door opening. This space has painted drywall, commercial carpeted flooring, dropped acoustical tile ceilings with recessed fluorescent light fixtures, and two restrooms. The front entry is finished with glass windows & entry doors in metal frames; there is a metal door for rear entry access. The ceiling height is roughly 10 feet.
Tenant Business Name Suite "E"
Annual Revenue $10,800 (Annual)
SF of Space Occupied 1,155 SF
Current Rent $9 PSF (Annual)
Tenant Notes SUITE “E” (Vacant): consists of approximately 1,155± SF consisting of open office/service/retail area. This space has painted drywall, laminate wood flooring, dropped acoustical tile ceilings with recessed fluorescent light fixtures, and one restroom. The front entry is finished with glass windows & entry doors in metal frames; there is a metal door for rear entry access. The ceiling height is roughly 10 feet.
Tenant Business Name Suite "F" and "G"
Tenant Notes SUITES “F” AND “G” (Leased): consists of two units or approximately 2,310± SF configured in open retail/service area. This suite is currently used as a salon. This space has painted drywall, commercial carpeted flooring, dropped acoustical tile ceilings with recessed fluorescent light fixtures, and two restrooms. The front entry is finished with glass windows & entry doors in metal frames; there is a metal door for rear entry access. The ceiling height is roughly 10 feet.
Tenant Business Name Suite "H"
Annual Revenue $10,800 (Annual)
SF of Space Occupied 1,155 SF
Current Rent $9 PSF (Annual)
Tenant Notes SUITE “H” (Vacant): consists of approximately 1,155± SF consisting of open office/service/retail area. This space has painted drywall, commercial carpet wood flooring, dropped acoustical tile ceilings with recessed fluorescent light fixtures, and one restroom. The front entry is finished with glass windows & entry doors in metal frames; there is a metal door for rear entry access. The ceiling height is roughly 10 feet.
Tenant Business Name Suites "I", "J", "K", "L"
Is Renting? Yes
Annual Revenue $30,000 (Annual)
SF of Space Occupied 2,500 SF
Current Rent $6 PSF (Annual)
Tenant Notes SUITES “I”, “J”, “K” AND “L” (Leased): consists of four units or approximately 4,620 SF. Two of the spaces, “K” and “L”, are configured in open retail/service area; and units “I” and “J” are single units joined together with Units “K” and “L” by finished, single door openings. This suite is currently used as a gym. This space has painted drywall, commercial carpeted and tile flooring, dropped acoustical tile ceilings with recessed fluorescent light fixtures, and four restrooms. The front entry is finished with glass windows & entry doors in metal frames; there is a metal door for rear entry access. The ceiling height is roughly 10 feet.

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Santa Rosa
Taxing Authority: Santa Rosa County
Tax ID/APN: 32-2N-28-0000-03918-0000
Zoning: C-1 NEIGHBORHOOD COMMERCIAL ZONING DISTRICT
Retail Clientele: General, Family, Business, Recreation
Property Located Between: Dogwood Drive and Anderson Lane
Property Visibility: Excellent
Largest Nearby Street: Highway 90 to the south
Feet of Frontage: 306
Traffic/Vehicle Count: 10,500
Highway Access: Highway 90 is a four lane divided highway in a 250’± right-of-way. It is a major east/west thoroughfare located approximately 3.4 miles north of Interstate 10. It is the principal route connecting the City of Pensacola, Escambia County, Florida (to the east) and Milton, Santa Rosa County, Florida. Berryhill Road is a two lane street in a 70’ right-of-way.
Airports: Pensacola International Airport
Site Description: The subject parcel is irregularly shaped with approximately 306’ of frontage along Berryhill Road. According to the subject’s “abbreviated” legal description, the dimensions of the subject parcel are: 306’ (northern boundary/Berryhill Road) by 215’along the access easement (western boundary) by 243’ + 213’ by 115’ (southern boundary). The overall site has good visibility with average and typical utility. It is predominantly level with a slight slope from north to south to a retention pond located at the southeast corner of the site. The subject property contains approximately 1.89 acres.
Area Description: The subject market area is located on the west side of Milton, Florida in the southern portion of Santa Rosa County, Florida. The primary draw for traffic to this area is nearby residential developments and NAS Whiting Field roughly 8 miles to the northeast. According to the City of Milton’s website, “NAS Whiting provides support services and materials for a training air wing and 6 training squadrons providing primary and intermediate training of fixed-wing aviation and advanced helicopter training to student aviators. The $44 billion industry is the state’s third top economic sector behind tourism and agriculture; it tops the list in Santa Rosa County. Agriculture accounts for nearly $60 million in annual revenue in Santa Rosa County.” Another contributing factor to the growth in this area is the continued expansion of facilities and growth in Pace, Florida, the western gateway to Santa Rosa County and adjoining Milton to the east. According to its website, Pace, Florida, “with its excellent public schools, recreation associations, public parks, law enforcement agencies, military support, and the very best quality of life, Pace is the fastest growing community in Northwest Florida. Population figures for Pace have skyrocketed over the last decade; from 5,000 in 2010 to more than 53,000 today. Pace’s location is easily accessible to Milton (Santa Rosa County seat) and Pensacola with many residents commuting back and forth to work. Local companies such as Wal-Mart Super-center, Home Depot, Office Depot, Publix, Lowes, Sears, Target, Panera Bread and many more are offering more residents local job opportunities” all of which are located along Highway 90 to the south of the subject.
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 2004
Roof Type: Flat
Construction/Siding: Metal Siding
Parking Type: Surface
Parking Description: 49 spaces, including 2 handicapped spaces.
Total Parking Spaces: 49
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Interior Description: See spaces available.
Zoning Description: The C-1 Neighborhood Commercial District is intended to accommodate local non-residential uses that predominantly serve the needs of the nearby residential neighborhoods. They should be similar in character of the surrounding residential neighborhood. Apartment Complexes and single-family residential dwelling units may be allowed above the ground floor upon development authority approval. The purpose of this district is to allow for the full development of commercial uses while protecting nearby residential properties from the adverse effects of commercial activities.
Lot Frontage: 306
Lot Depth: Irregular
Water Service: Municipal
Sewer Type: Municipal
Easements: Other
Easements Description: There is an existing easement lying between the subject property and the adjacent property to the west. This easement provides access to both parcels from Berryhill Road. See Graphic in Document
Legal Description: Refer to Exhibit "A" in the document section of this listing.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,983 26,393 49,514
Median Age: 38.9 38.11 37.98
Households: 1,905 10,231 19,042

Contact

Photograph of Listing Agent

G. Jeff White

Connell & Company Realty, Inc.
Gulf Coast CMLS Member
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