3960 Navy BlvdPensacola, FL 32507

Property Details for 3960 Navy Blvd

Year built

1984

Construction

TYPE NOT SPECIFIED

Lot size

5.14 AC

Property size (Sq ft)

9,920 SF

Zone code

COM

Property type

Retail properties

Property subtype

Community centers

APN

38-2S-30-1000-010-006

APU

382S301000010006

Description

Invest in Navy Park Plaza, a thriving 61,240-square-foot mixed-use center in Pensacola's rapidly growing West side. This fully developed, single-story property boasts a diverse tenant mix of established local and national businesses, ensuring strong occupancy and rental income. Located on Navy Boulevard and Chiefs Way, the property benefits from high visibility and traffic counts exceeding 23,500 cars per day (2023 data). Recent, extensive renovations (2023) include interior and exterior updates, fresh paint, a resurfaced parking lot, and updated landscaping, creating a modern and attractive environment for tenants and customers. The 5.13-acre site features 200 parking spaces, six drive-ins, and 782 feet of frontage, providing ample access and convenience. Available spaces include turn-key offices, white-boxed inline units, and expansive open-concept suites, catering to a variety of business needs. The property's zoning (COM) allows for flexibility and future expansion opportunities. The 17-foot ceiling height in the warehouse space adds to its versatility. This professionally managed property offers a compelling investment opportunity in a high-growth area with established commercial infrastructure and a strong tenant base. The property's location on a major travel corridor to the downtown business and retail core ensures continued high traffic and visibility. Updated pylon and building signage enhances the property's presence and appeal. The property's APN is 382S301000010006. Currently, 10,110 square feet of space is vacant.

• CAP approach

  CAP return

  Valuation

  6%

  $1,974,962

  6.5%

  $1,823,042

  7%

  $1,692,825

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,691,940

  Geo Method

  $1,777,136

• Alternative Use

  Use

  Valuation

  Residential

  $1,537,804

  Hospitality

  $1,408,620

  Educational

  $1,171,956

  Medical

  $1,212,261

  Retail

  $1,823,042

Location Insight

City

Pensacola

County

Escambia

State

Florida

Latitude

30.4085

Longitude

-87.273

CBSA code

37860

CBSA name

PENSACOLA-FERRY PASS-BRENT, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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