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6121-6235 N Davis Hwy
Pensacola, FL 32504
Pensacola Square · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Transformational Crunch Fitness anchor opened Sep-25 - $5M investment by 2nd largest Crunch franchisee (70+ locations), 15-year lease with 10% bumps
- Embedded rent growth - Petland & Bealls remain well-below market rents with no options; Concentra’s new 10-year lease achieved a 140% rent spread
- Largest MSA with 535,000 residents, 80,000+ military personnel, and a 25-mile regional draw extending from Destin to Mobile
- Crunch replaced Big Lots, driving significant traffic increases, energizing existing tenants, and strengthening future leasing & merchandising
- All roofs replaced in 2018 or later; parking lot resurfaced in 2023 and upgraded with LED lighting, enhancing long-term durability and curb appeal
- At I-10/I-110/North Davis Hwy (200,000 VPD), with 150,000 residents averaging $94,000 household income and 31,000+ college students within 5 miles
EXECUTIVE SUMMARY
Colliers, as exclusive broker, is pleased to offer the opportunity to acquire Pensacola Square (the “Property”), a 134,852 square foot shopping center located less than a mile from the super-regional I-10 / I-110 interchange in Pensacola, the largest MSA in the Florida Panhandle. The Property is shadow anchored by Books-A-Million and Hobby Lobby, ranked #2/15 and #3/57 in Florida for foot traffic, respectively (Placer.ai), and has exceptional leasing momentum, highlighted by a new 15-year lease with Crunch Fitness, creating a strong anchor WALT of over 8 years and paired with rare upside potential throughout the rent roll with a 2.8% CAGR (5-year).
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
134,852 SF
Building Class
B
Year Built/Renovated
1986/2005
Percent Leased
99%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.23
Lot Size
13.20 AC
Zoning
C-1
Frontage
595’ on Davis Hwy
AMENITIES
- Signage
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $6,917,741 | |
| Land Assessment | $2,752,501 | Total Assessment | $9,670,242 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$2,752,501
Improvements Assessment
$6,917,741
Total Assessment
$9,670,242
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