2405 Nine Mile RdPensacola, FL 32534
- Land
- 1.20 AC
Property Details for 2405 Nine Mile Rd
- Year built
- 1966
- Lot size
- 1.20 AC
- Zone code
- HC/LI
- Property type
- Land
- Property subtype
- Commercial land
- APN
- 11-1S-31-1201-001-001
- APU
- 111S311201001001
Description
This exceptional investment opportunity presents a newly constructed (2024) Panera Bread restaurant in Pensacola, Florida, boasting a 15-year absolute NNN lease with a corporate guarantee from Panera, LLC. The 3,557 square foot building sits on a 1.2-acre lot and features a drive-thru and outdoor seating, maximizing customer convenience. Located on a high-traffic section of West 9 Mile Road, this property benefits from its proximity to Interstate 10, a new Navy Federal Credit Union campus, Ransley Station development, Naval Air Station Pensacola, and the University of West Florida, ensuring a consistent flow of customers. The lease commenced October 14, 2024, and expires October 31, 2039, offering a substantial remaining term of 15 years. The property's strong location, coupled with the established brand recognition of Panera Bread and the favorable lease terms, makes this an attractive investment with a 5.00% cap rate and a Net Operating Income (NOI) of $168,875. The asking price is $3,378,000. Rent bumps are included in the lease agreement. This is an ideal opportunity for passive investors seeking a stable, high-performing asset in a rapidly growing market. The property's modern design incorporates energy-efficient materials and systems, optimizing operational efficiency. Ample parking and excellent visibility contribute to its strong potential for long-term value appreciation. This offering is structured for a 1031 exchange.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
Alternative Use
- Use
- Valuation
- Residential
- $8,103,236
- Hospitality
- $7,422,520
- Educational
- $6,175,450
- Medical
- $6,387,832
- Retail
- $9,606,255
Location Insight
- City
- Pensacola
- County
- Escambia
- State
- Florida
- Latitude
- 30.5337
- Longitude
- -87.3178
- 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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