8121 Lillian Hwy, Pensacola, FL 32506
23,486 SF Specialty Building Offered at $560,000 in Pensacola, FL 32506
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 27 days
Asking Price $560,000
- Property Type
-
Specialty
- Square Feet
- 23,486 SF
- Price / Square Foot
- $24
Listing Contacts
Zachary Tryon
Austin McLeod
Property Overview
Broker of Record
Kyle Matthews
License No. CQ1066435 (FL)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
Kyle Matthews
License No. CQ1066435 (FL)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
Property Details
- Class
- C
- Year Built
- 1990
- Stories
- 1
- Property Subtype
- Self-Storage
- Lot Size (sq. ft)
- 43,560 SF
Highlights
- Heavy value add opportunity due to mismanagement. Currently only 42% occupied, with 17% of the potential rent of the facility being collected
- 30' X 120' concrete pad existing on-site where a building burned down, presenting opportunity to expand the asset upon closing
- Strong surrounding population with over 43,000 people living in a 3-mile radius
- Solid traffic counts with over 14,000+ vehicles per day on Lillian Highway, in which this facility has frontage and signage
- High yields upon stabilization – Projected 10.26% Year 3 Cap Rate and 10.97% Year 4 Cap Rate
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