Income Producing Shopping Center

4469 Mobile Hwy Pensacola, FL 32506

4469 Mobile Hwy , Pensacola, FL, 32506
Paradise Square Shopping Center
4469 Mobile Hwy , Pensacola, FL, 32506 4469 Mobile Hwy , Pensacola, FL, 32506 4469 Mobile Hwy , Pensacola, FL, 32506 4469 Mobile Hwy , Pensacola, FL, 32506 4469 Mobile Hwy , Pensacola, FL, 32506 4469 Mobile Hwy , Pensacola, FL, 32506
Property Type:
Neighborhood Center
Cap Rate:
Last Verified:
Jun 27, 2023

NAI Pensacola, as exclusive agent on behalf of the owner, is pleased to present the opportunity to acquire fee simple ownership of Paradise Square Shopping Center, composed of a well-maintained 68,380 square foot multi-tenant retail center, on a 6.3027-acre site. The Center enjoys premium visibility in its key hard-corner position at the busy, lighted intersection of Mobile Highway (31,500 CPD) and Fairfield Drive (20,500 CPD) offering an incredible 814’ of frontage, with customer access from three drives. Pylon signs are located on the two primary access drives creating great tenant visibility to the over 50,000 cars that pass by daily! Constructed in 1975, Paradise Square underwent a major update in 2010, followed by continued high-level capital improvements including a new roof ($300,000) and 5 new HVAC systems in 2020, the entire center was painted in 2021, and the parking lot (striped), upgraded lighting added, and landscaping updated in 2022. Currently, 96.7% occupied, the property offers a solid NOI and long-term sustainable tenants. The 3.3% vacancy at Paradise Square Shopping Center is Unit 3, a 2,280 SF fully renovated medical office suite. That provides an added cash-flow opportunity for the purchaser. Additionally, there is 1 acre of surplus parking that is unused and could easily be sold and utilized as a build-to-suit development, or land lease for additional income. Professionally managed, Paradise Square Shopping Center, benefits from a harmonious, service-driven tenant mix that operates in a synergistic manner creating a bright and viable shopping complex. Currently operating at a 96.7% occupancy rate with all credit-worthy, qualified tenants in place on NNN leases. Paradise Square Shopping Center is being offered on a free and clear basis

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What are Real Estate Incentives?

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."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.