1201 E Cervantes St
Pensacola, FL 32501
Taco Bell Ground Lease: Pensacola, FL · Retail Property For Sale

The CBRE Net Lease Property Group is pleased to exclusively offer a 2,080-square-foot freestanding Taco Bell situated on 0.59 acres in Pensacola, Florida. Pensacola is the principal city of the Pensacola-Ferry Pass-Brent metropolitan statistical area (Population: 487,784) and the seat of Escambia County. Pensacola—the westernmost city in Florida—was founded in 1559 and serves as a seaport on the Gulf of Mexico’s Pensacola Bay. Taco Bell’s new 20-year absolute NNN ground lease features 5% rent increases every 5 years throughout the initial term and in each of the six 5-year renewal options. The property is ideally located with excellent access and visibility on the hard corner of the signalized intersection of East Cervantes Street (Traffic Count: 28,500 VPD) and North 12th Avenue (Traffic Count: 6,700 VPD), less than a mile from Interstate 110 (Traffic Count: 57,500 VPD) which is the main thoroughfare connecting the city to Interstate 10. The restaurant is strategically situated in Downtown Pensacola’s highly desired East Hill neighborhood which boasts historic sites with more than 450 years of history, one of the country’s best outdoor farmer’s markets, and a myriad of unique dining options. Another corner of the intersection was redveloped in 2016 and now includes the brand new “East Hill” Publix. Taco Bell also benefits from its position within one of the area’s robust retail and commercial corridors with 13.7 MSF of retail, 9.9 MSF of office, 8.3 MSF of industrial, and 6,162 multifamily units within a 5-mile radius. Major retailers within the immediate vicinity include: Another Broken Egg Café, Wendy’s, Krispy Kreme, McDonald’s, Jimmy John’s, Starbucks, Shell, Carrabba’s, Subway, Family Dollar, Popeyes, and Waffle House, among many others. The surrounding area boasts an ideal demographic profile with a population of 42,540 and average household income of $60,311 within a 3-mile radius.