3206 De Soto StPensacola, FL 32503

This exceptional investment opportunity encompasses two adjacent properties totaling 5,832 square feet in Pensacola, Florida. The package includes the thriving Agapi Bistro & Garden restaurant and Nancy's Catering, both fully operational and boasting combined 2024 sales (through September) of $1,830,000. Agapi Bistro, a 2,865 sq ft establishment located at 555 Scenic Hwy, features a full bar (with liquor license), updated kitchen, indoor/outdoor dining, and a recently renovated space. Key improvements include a new roof (2020), a 7.5-ton HVAC system (2024), and a seal-coated and restriped parking lot. The outdoor area is ideal for events, with outdoor cooking facilities and ample space. Nancy's Catering, situated at 3206 E De Soto St, occupies a 2,964 sq ft metal building (built 2014, renovated 2023) with an 18-foot ceiling, offering substantial storage, a walk-in cooler/freezer, and office space. Included are a delivery van, box truck, and catering supplies for up to 400 guests. The properties are situated on a 0.62-acre lot with ample parking, benefiting from high visibility on a busy corner of Scenic Highway and DeSoto Street. The asking price is $1,950,000, representing a $334.36/sq ft price and an attractive 11.54% cap rate with a current NOI of $225,000. The property is zoned R-NC and offers significant value-add potential, such as expanding lunch service. The current owner is retiring, presenting a seamless transition opportunity, with the executive chef available for a handover period. The property is a Class B building, built in 2014 and extensively renovated in 2023. The occupancy date is October 7, 2024.