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MIDAS – 20-Year Absolute NNN Lease 5275 N Davis Hwy 3,190 SF Retail Building Pensacola, FL 32503 $2,750,000 ($862.07/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Brand New 20 Year Absolute Triple Net Lease;
- Located at entrance of the ~930,000 SF Cordova Mall which includes Target, Lowe’s, Sam’s Club, Cordova Mall, Total Wine and more
- Rapidly Growing Tenant: Legacy Auto Group is one of the fastest-growing automotive franchise groups operating 36 locations across 11 states
- Proven Unit-Level Performance: Strong historical sales performance positioning the tenant for long term success at this location
- Surrounded by Traffic Drivers: Pensacola International Airport (1.5 Miles East), Ascension Sacred Heart Pensacola 566-bed regional hospital
- Legacy Auto Group is recognized for a strong customer-first culture and high-volume sales, driving long-term stability and sustained success
EXECUTIVE SUMMARY
Century Partners is pleased to offer Midas Auto Shop, secured by a 20-year absolute triple-net lease, providing investors with long-term, passive income. The property benefits from proven unit-level performance, with strong historical sales that position the tenant for sustained success at this location. Situated on an irreplaceable hard-corner site with approximately 65,000 vehicles passing daily, the asset offers exceptional visibility and access. Additionally, the tenant has made a significant capital contribution to the project, further aligning long-term interests and enhancing the strength of the investment (please contact the broker for additional details).
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
Sale Leaseback
Property Type
Retail
Property Subtype
Auto Repair
Building Size
3,190 SF
Building Class
B
Year Built
1964
Price
$2,750,000
Price Per SF
$862.07
Cap Rate
6%
NOI
$165,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
0.37 AC
Zoning
C-1
Parking
20 Spaces (6.27 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Pylon Sign
- Signage
- Signalized Intersection
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Midas
- Services
-
99,999 SF
-
$9.99
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Midas | Services | 99,999 SF | $9.99 | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 48-1S-30-3129-000-001 | Improvements Assessment | $87,618 |
| Land Assessment | $176,415 | Total Assessment | $264,033 |
PROPERTY TAXES
Parcel Number
48-1S-30-3129-000-001
Land Assessment
$176,415
Improvements Assessment
$87,618
Total Assessment
$264,033
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MIDAS – 20-Year Absolute NNN Lease | 5275 N Davis Hwy
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