1080 Michigan AvePensacola, FL 32505
- Retail properties
- 2,050 SF
Property Details for 1080 Michigan Ave
- Year built
- 1971
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 0.58 AC
- Property size (Sq ft)
- 2,050 SF
- Zone code
- HDMU
- Property type
- Retail properties
- Property subtype
- Retail space
- APN
- 44-1S-30-1101-002-002
- APU
- 441S301101002002
Description
This 2,350 square foot vacant convenience store, located at 1080 W Michigan Ave in Pensacola, Florida (32505), presents a unique investment opportunity. Priced at $349,000, this single-story building sits on a 0.61-acre lot and underwent renovations in 2024. The property boasts excellent visibility on a busy road with over 32,500 vehicles passing daily, ensuring high traffic exposure. Recent improvements include new LED area lighting, a new power meter, and a new roof with 8.5 years remaining on a transferable warranty. A fresh coat of paint, a modern AC system, and a secure fenced perimeter enhance the property's appeal. The large lot offers potential for expansion, perhaps accommodating a food truck or additional space. Inside, there's room for a small, made-to-order food area. The property's location near established neighborhoods provides access to a ready customer base. A Site Rehabilitation Completion Order from the FDEP is also available. This versatile space is ideal for retail or a combination of retail and office uses. The property's APN is 441S301101002002. A new Dollar General Market is directly across the street.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $408,132
- 6.5%
- $376,738
- 7%
- $349,828
-
Comparable approach
- Method
- Valuation
- Relative Method
- $349,645
- Geo Method
- $367,251
-
Alternative Use
- Use
- Valuation
- Residential
- $317,792
- Hospitality
- $291,096
- Educational
- $242,188
- Medical
- $250,518
- Retail
- $376,738
Location Insight
- City
- Pensacola
- County
- Escambia
- State
- Florida
- Latitude
- 30.4616
- Longitude
- -87.2705
- CBSA code
- 37860
- CBSA name
- PENSACOLA-FERRY PASS-BRENT, FL METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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