Beer/Wine Bar with House

Retail-Commercial for Sale
Catylist Listing ID: 30537008
Property Subtypes: Convenience Store, Free-Standing Building, Mixed Use, Street Retail, Tavern/Bar/Nightclub
Building Size (RSF): 2,354 SF
Gross Land Area: 0.54 Acres
Sale Price: $132,500
Unit Price: $56.29 PSF
Ceiling: 10 ft.
Property Use Type: Vacant/Owner-User
Usable Size (USF): 2,354 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/6/2020

Overview / Comments

Freestanding Corner Beer & Wine Bar on the corner of Lillian and N 49th. Bar includes 1,326 square feet along with a privacy fenced outdoor area for entertainment use. 1,028 sq. ft. residential home currently set up as a 2/1, but can be converted back to a 3/1. Home is rented month to month.

Financials

Finance Data Year 2020
Real Estate Taxes - Annual($) $1,513 (Annual)
Potential Rental Income $22,200 (Annual)
Gross Operating Income $18,000 (Annual)
Net Operating Income $1,300 (Annual)
Actual or Proforma Year Actual

Current Tenants

Tenant Business Name Residential Tenant
Is Renting? Yes
SF of Space Occupied 1,028 SF
Current Rent $700 PSF (Annual)
Tenant Notes Month to Month
Tenant Business Name Bar Tenant
Is Renting? Yes
SF of Space Occupied 1,326 SF
Current Rent $800 PSF (Annual)
Tenant Notes Month to Month

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Escambia
Taxing Authority: COUNTY MSTU
Tax ID/APN: 342S300200002003, 342S300200001004
Zoning: HDMU
Retail Clientele: General
Property Located Between: Lillian Hwy and N 49th Ave
Property Visibility: Excellent
Largest Nearby Street: Lillian Hwy
Feet of Frontage: 152
Traffic/Vehicle Count: 10,500
Highway Access: Immediate ingress and egress onto Lillian Hwy with 2 entrances from Lillian and 1 entrance from 49th.
Airports: Pensacola International Airport
Site Description: Bar is accessible from Lillian Hwy or 49th Ave and has private parking lot for customers and sign with power. Exterior includes outdoor speakers and security cameras. All bar contents convey.
Area Description: Demographics within a 3 mile radius include a Total Population of 72,674 with an Average Household Income of $42,081 and an Average Age of 34.7
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Fair
Year Built: 1964
Year Renovated: 1970
Construction/Siding: Stucco
Exterior Description: Bar is stucco over concrete block with 3 year old roof and 4 year old a/c unit. Privacy fence with large storage unit in the back and additional seating for outdoor entertainment.
Total Parking Spaces: 18
Parking Type: Surface
Parking Description: Asphalt Paving
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Interior Description: Large open bar area with two pool tables with easy access to privacy fenced outdoor area. Separate men's and women's restrooms are located to the right of the entryway. Additional storage by entry and behind bar. The House was converted to a 2/1 but could be converted back to a 3/1.
Zoning Description: The High Density Mixed Use (HDMU) district establishes appropriate areas and land use regulations for a complimentary mix of high density residential uses and compatible non-residential uses within urban areas. The primary intent of the district is to provide for a mix of neighborhood retail sales, services and professional offices with greater dwelling unit density and diversity than the Low Density Mixed Use district. Retail sales. Medium-scale (gross floor area 35,000 sq. ft. or less per lot, but greater than 6000 sq.ft.) retail sales, including sales of beer and wine and automotive fuels, but excluding sales of motor vehicles and liquor, and excluding permanent outdoor display or sales of merchandise.
Lot Frontage: 152
Lot Depth: 150
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Owned
Legal Description: W 150 FT OF BEG AT INTER OF CENTER LI OF ST RD 298 (LILLIAN HWY) WITH W LI OF SEC 34 N 83 DEG 20 MIN E ALG CENTER LI OF SD HWY 1587 05/100 FT S O DEG 48 MIN E 33 05/100 FT FOR POB N 83 DEG 20 MIN E 57 FT TO PC THENCE BY CURVE TO RT HAVING RADIUS OF 3000 FT AN ARC DIST OF 241 FT S O DEG 48 MIN E 90 16/100 FT S 83 DEG 20 MIN W 300 FT N O DEG 48 MIN W 100 FT TO POB PART OF LTS 3 4 & 5 RAVENSWOOD GARDEN PB 1 P 21 OR 5859 P 1915 OR 7573 P 468 CA 187 S 50 FT OF LTS 3 4 & 5 RAVENSWOOD GARDEN PB 1 P 21 OR 5859 P 1915 OR 7573 P 468 LESS OR 5738 P 1239 SYMANCK CA 187

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,776 74,855 146,123
Median Age: 35.95 35.58 36.37
Households: 4,839 29,396 55,477

Contact

Photograph of Listing Agent

Melissa Glyptis Simpson

Coldwell Banker Commercial NRT Pensacola
Gulf Coast CMLS Member
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