Armed Forces Anchored Multi-Tenant Office + Billboard | 7.5% Cap Rate

Highlights

• Two buildings totaling ±7,435.5 SF buildings on just under an acre
• WALT: The weighted average lease term is 7 years
• 63% leased by 3 high-credit sticky government tenants
• 37% leased by 2 internet resistant wellness tenants
• Tenants benefit from retail type exposure on Bayou Boulevard
• Traffic count 35,500 average per day
• New lighted monument sign promoting tenants
• Included billboard has 17 years remaining on the lease
• $1million renovation including new roof, exterior paint and lighting
• All leases initiated or renewed post Covid

Description

Opportunity to acquire a multi-tenant fully leased office complex with three government tenants and two wellness tenants. The property provides tenant’s retail type exposure with 30,500 average cars per day and new monument signage. The property is in excellent condition with over $1 million dollars of capital improvements completed in the past year and half.

The property is well located on Bayou Boulevard 1.4 miles from the Pensacola International Airport and less than a mile from Interstate 110.

Pensacola, FL

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