Catylist ID:
#30872943
Fully Leased Cordova Complex for Sale
Retail-Commercial
for Sale
| Catylist Listing ID: | 30872943 |
| Property Subtypes: | Retail-Pad |
| Building Size (RSF): | 7,436 SF |
| Gross Building Area: | See Agent |
| Gross Land Area: | 0.93 Acres |
| Sale Price: | $3,299,000 |
| Unit Price: | $443.65 PSF |
| Property Use Type: | Net Leased Investment (NNN) |
| Building Name: | Cordova Complex |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 7.0% |
| Average Occupancy Rate: | 100 |
| Last Updated: | 9/5/2024 |
Overview / Comments
|
Discover an exceptional investment opportunity in the heart of Pensacola's premier corridor! This fully leased commercial property is a testament to quality and stability, featuring long-term, creditworthy tenants—some of whom have been in place for over 15 years—with leases ranging from 5 to 10 years. Over the past 18 months, the property has undergone over $1,000,000 in capital improvements, ensuring it remains a top-tier investment. Enhancements include a brand-new lighted pylon sign, a new roof, new gutters, upgraded exterior lighting and comprehensive landscaping updates, such as a retaining wall, sod, French drains, shrubs, and mulch. This property is not only a solid investment but also a cornerstone in one of Pensacola's most sought-after areas. Please note that there is a billboard on the premises, which is not included in the current sales price but is available for purchase separately. Don’t miss this chance to secure a thriving, low-maintenance investment in a prime location! Bullet Points: $1,000,000 in Capital Improvements 7,436 sq. ft. building 100% Leased Long-term Credited Tenants with 5 to 10 years leases Located on Bayou Blvd. surrounded by restaurants, retail shops & medical facilities Excellent daytime employment numbers Densely populated area Easy travel to I110 and other nearby highways Zoned C1-Commercial Easy ingress/egress |
Attachments & Media
Additional Details
| Nearest MSA: | Pensacola-Ferry Pass-Brent |
| County: | Escambia |
| Taxing Authority: | Escambia County |
| Tax ID/APN: | 331S307200000023 |
| Zoning: | C-1 |
| Retail Clientele: | General, Business, Other |
| Property Visibility: | Excellent |
| Largest Nearby Street: | Bayou Blvd |
| Feet of Frontage: | 100 |
| Traffic/Vehicle Count: | 24,500 |
| Highway Access: | 1.5 Miles from I-110 |
| Airports: | 1.3 Miles from Pensacola International Airport |
| Site Description: | This fabulous commercial property is situated on a well-traveled thoroughfare in the heart of the Cordova business district. The property has 2 single-story buildings. The available space for lease can be used for a variety of purposes such as office, retail, or medical space. The site is located near other commercial developments, including retail centers, restaurants, and businesses. It is easily accessible with 2 entrances and exits. |
| Area Description: | Located on Primary Travel Corridor in Pensacola, FL directly across the street from Starbucks and Chick-fil-A. The center is surrounded by strong national retailers like Publix, Winn Dixie, Michael's, Office Depot, ABC Fine Wine and Spirits, McDonald’s, Olive Garden, Panera Bread and more! |
| Tenancy: | Multiple Tenants |
| Total Number of Buildings: | 2 |
| Number of Stories: | 1 |
| Property Condition: | Excellent |
| Year Built: | 1980 |
| Year Renovated: | 2024 |
| Roof Type: | Gable |
| Construction/Siding: | Brick |
| Exterior Description: | This commercial property boasts an impeccably maintained exterior, featuring two wood-frame buildings in white-painted brick veneer. The grounds are beautifully kept, offering an inviting and professional appearance that enhances its curb appeal. The property has a brand new roof installed in August 2024, ensuring durability and protection for years to come. Noteworthy upgrades include a striking new lighted pylon sign, new gutters, and modernized exterior lighting that enhances both visibility and security. The landscaping has been comprehensively updated, with the addition of a well-constructed retaining wall, lush sod, efficient French drains, and a variety of shrubs and mulch, all contributing to a polished and welcoming environment. The parking lot is also meticulously maintained, providing ample, easy-access parking for tenants and visitors alike. This property stands out as a premier commercial offering, combining aesthetic appeal with functional improvements. |
| Parking Type: | Surface |
| Heat Type: | Electricity |
| Heat Source: | Central |
| Air Conditioning: | Package Unit |
| Internet Access: | Cable |
| Interior Description: | This commercial property features a thoughtfully designed interior, perfectly blending retail and office spaces. At the front, you'll find spacious retail areas that have been remodeled to create a bright and welcoming environment, ideal for attracting and engaging customers. The layout is flexible, allowing for a variety of retail configurations. The back building of the property includes office spaces that offer a quiet and professional setting. These areas have been remodeled with updated finishes and fixtures. The seamless transition between retail and office space makes this property highly adaptable for various business models, providing an excellent opportunity for both entrepreneurs and established businesses. |
| Zoning Description: | RETAIL COMMERCIAL (C-1) |
| Lot Frontage: | 100 |
| Lot Depth: | 405 |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
| Legal Description: | Escambia County Property Appraiser 331S307200000023 - Full Legal Description COMMENCE AT THE POINT OF INTERSECTION OF THE SLY R/W LI OF BAYOU BLVD SR #296 (100 FT R/W) AND THE ELY ROW LI OF NINTH AVE SR #289 (100 FT R/W) THENCE S 64 DEG 56 MIN 30 SEC E ALONG THE SAID SLY R/W LI OF BAYOU BLVD FOR 594.92 FT TO THE POINT OF A CIRCULAR CURVE CONCAVE TO THE SOUTHWEST HAVING A RADIUS OF 2807.06 FT THENCE SE ALONG THE ARC OF SAID CURVE FOR AN ARC DISTANCE OF 215.27 FT (CHORD DISTANCE OF 215.22 FT CHORD BEARING OF S 62 DEG 44 MIN 41 SEC E) TO THE MOST ELY CORNER OF THE PROPERTY DEEDED TO FAB REALTY CO ACCORDING TO THE DEED RECORDED IN OFFICIAL RECORD BOOK 878 AT PAGE 849 OF THE PUBLIC RECORDS OF ESCAMBIA COUNTY FLORIDA FOR THE POB THENCE CONTINUE ALONG THE SAID ARC BEING THE SAID SLY R/W LINE OF BAYOU BLVD FOR AN ARC DISTANCE OF 100.46 FT (CHORD DISTANCE OF 100.45 CHORD BEARING S 59 DEG 31 MIN 21 SEC E) THENCE S 25 DEG 03 MIN 30 SEC W FOR A DISTANCE OF405.78 FT TO A POINT ON THE NLY R/W OF DODSON DR (60 FT R/W) SAID POINT BEING ON THE ARC OF A CIRCULAR CURVE CONCAVE TO THE SW HAVING A RADIUS OF 1486.55 FT THENCE NWLY ALONG THE ARC OF SAID CURVE BEING ALSO THE SAID NLY R/W LI FOR AN ARC DIST OF 100.53 FT (CHORD DISTANCE 100.51 FT CHORD BEARING N 59 DEG 08 MIN 48 SEC W) THENCE N 25 DEG 03 MIN 30 SEC E ALONG THE SE LI OF THE SAID FAB REALTY CO PROPERTY FOR A DISTANCE OF 405.12 FT TO THE POB CONTAINING 0.93 AC MORE OR LESS SEC 50 T1S R 30 OR 8664 P 978 SHEET G |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 6,982 | 72,865 | 155,512 |
| Median Age: | 40.41 | 39.08 | 38.17 |
| Households: | 3,278 | 29,916 | 63,933 |
Contact
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