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High Visibility Mixed-Use Retail, Restaurant, & Apartment Property

41 S Navy Boulevard and 4151 thru 4171 Barrancas Avenue Pensacola, FL 32507

41 S Navy Boulevard and 4151 thru 4171 Barrancas Avenue, Pensacola, FL, 32507
41 S Navy Boulevard and 4151 thru 4171 Barrancas Avenue, Pensacola, FL, 32507
FOR SALE
Property Type:
Strip Center
Amount:
$800,000
Last Verified:
Mar 26, 2019
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Highlights

  • Mixed Use Property
  • Multi-Tenant Retail, Restaurant, and an Apartment
  • High Traffic Counts
  • Located near Exit of Naval Air Station
  • Retail Buildings and Apartment are Masonry Construction
  • Plenty of Parking
  • Needs TLC, but Lots of Potential
  • Redevelopment Potential

Description

This Pensacola landmark has a great location with frontage on Navy Blvd, Barrancas Av, Central and S. 1st Street! The property includes approximately 8,863 square feet of multi-tenant retail space with a 3 bedroom, 1-bath apartment on the second floor, and a separate 3,211 square foot restaurant with drive-thru (originally constructed as a Hardy's, and currently occupied by Mr. Teriyaki). Drive thru restaurant includes walk in cooler & freezer, 2 hood systems, grease traps, HVAC (28 tons), DSL/Cable/Phone and dining room package. 6 car D/T stack and 50 parking spaces. The hood system and AC unit in the restaurant building are approximately 5 years old. The retail buildings were constructed between 1929 and 1942, and the restaurant building was constructed in 1977. Long term tenants with below market leases that are currently on a month-to-month basis.

This 1.24 acre site is comprised of two tax parcels and includes frontage on Barrancas Avenue, South Navy Boulevard, Commerce Street, and South 1st Street. Great location near entrance to NAS, in close proximity to the Pensacola Country Club, and just minutes from Downtown Pensacola. High traffic count, 23,000 AADT (Navy), 24,000 AADT (Barrancas) per FDOT avg annual daily traffic. Strong retail corridor.

Building Size: 13406.0sq ft
Building Class: C
Lot Size: 1.24 acres

Map of 41 S Navy Boulevard and 4151 thru 4171 Barrancas Avenue, Pensacola, FL, 32507

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Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

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