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701 E Nine Mile Rd
Pensacola, FL 32514
Retail Property For Sale
Investment Highlights
- Costco Development: Green Dragon is sitting just 0.8 miles from a future Costco Development which is the brand’s first store in the Florida Panhandle.
- Affluent Demographics: Within 5 miles, there are more than 112,000 residents with an average household income of nearly $95,000.
- University Proximity: The University of West Florida and its 15,000 students are just 2.5 miles from the subject property.
Executive Summary
STNL.com is pleased to present for sale a 100% fee simple, single-tenant Green Dragon property located in Pensacola, FL.
1. Major university proximity: Green Dragon’s location is just 2.5 miles from the University of West Florida. The 1,600-acre campus is home to nearly 15,000 students and this consistent daily traffic and young consumer base can support retail in this area for decades to come.
2.First Costco in Pensacola: Costco has received final approval to develop a 172,580 square foot warehouse and fuel station along Nine Mile Road, the first of its kind in the Pensacola market. This warehouse will be 0.8 miles from the subject property and will drive substantial additional traffic to the immediate trade area.
3.Dense and Affluent Population Base: The property is positioned in the heart of a thriving corridor supported by a large and prosperous consumer base. Within a 5-mile radius,
more than 112,000 residents call this area home, with average household income approaching $95,000.
1. Major university proximity: Green Dragon’s location is just 2.5 miles from the University of West Florida. The 1,600-acre campus is home to nearly 15,000 students and this consistent daily traffic and young consumer base can support retail in this area for decades to come.
2.First Costco in Pensacola: Costco has received final approval to develop a 172,580 square foot warehouse and fuel station along Nine Mile Road, the first of its kind in the Pensacola market. This warehouse will be 0.8 miles from the subject property and will drive substantial additional traffic to the immediate trade area.
3.Dense and Affluent Population Base: The property is positioned in the heart of a thriving corridor supported by a large and prosperous consumer base. Within a 5-mile radius,
more than 112,000 residents call this area home, with average household income approaching $95,000.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,500 SF
Building Class
B
Year Built/Renovated
1979/2022
Price
$1,000,450
Price Per SF
$400.18
Cap Rate
9%
NOI
$90,041
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
0.28 AC
Zoning
C - Commercial
Parking
21 Spaces (8.4 Spaces per 1,000 SF Leased)
Frontage
77’ on E Nine Mile Rd
Amenities
- Corner Lot
- Wheelchair Accessible
Property Taxes
| Parcel Number | 12-1S-30-1001-007-001 | Improvements Assessment | $167,191 |
| Land Assessment | $84,497 | Total Assessment | $251,688 |
Property Taxes
Parcel Number
12-1S-30-1001-007-001
Land Assessment
$84,497
Improvements Assessment
$167,191
Total Assessment
$251,688
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