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1500 Main St 38,703 SF Retail Building Pensacola, FL 32502 $4,000,000 ($103.35/SF) 5.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Property lies on the West side of Downtown Pensacola.
- Tenant has just renewed the lease for an additional 10 years with 3 five year options.
EXECUTIVE SUMMARY
This is a NNN investment with a future development opportunity. Currently used by a long term, established building supply operator. Tenant has just renewed the lease for an additional 10 years with 3 five year options. Current NOI provides a nice return by an established tenant with annual increases and no owner responsibilty. As a bonus, this property lies on the West side of Downtown Pensacola and will be a great re-development site in the future. You are getting a healthy return today and paying less than current land value for the real estate.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
38,703 SF
Building Class
B
Year Built/Renovated
1945/1973
Price
$4,000,000
Price Per SF
$103.35
Cap Rate
5.50%
NOI
$220,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
7.17 AC
Zoning
C-3 - Commercial Zoning - See City of Pensacola Muni-Code
Frontage
1,004’ on Main St
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 00-0S-00-9080-001-151 | Improvements Assessment | $793,858 |
| Land Assessment | $1,239,856 | Total Assessment | $2,033,714 |
PROPERTY TAXES
Parcel Number
00-0S-00-9080-001-151
Land Assessment
$1,239,856
Improvements Assessment
$793,858
Total Assessment
$2,033,714
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1500 Main St
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