1612 Pace BlvdPensacola, FL 32505

Property Details for 1612 Pace Blvd

Year built

1957

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.12 AC

Property size (Sq ft)

31,504 SF

Zone code

HC/LI

Property type

Community centers

APN

30-2S-30-1001-001-037

APU

302S301001001037

Description

This exceptional retail property, located at 1612 N Pace Boulevard in Pensacola, Florida, offers 10,000 square feet of recently renovated space within a larger 34,177 square foot building. The property sits on a 2.13-acre lot and features a single, one-story building with multiple tenancies. Currently, 10,000 square feet is available for lease, offering significant opportunity for expansion or new business ventures. The space is delivered in "white box" condition, allowing for complete customization to suit individual tenant needs. The property is zoned HC/LI, reflecting its suitability for commercial retail uses. The center boasts ample parking, ensuring convenient access for customers and employees. Its location on N Pace Boulevard provides excellent visibility and accessibility, benefiting from high daily traffic volume exceeding 18,500 vehicles. The property is anchored by Grocery Advantage, providing a strong draw for customers to the center. This is a rare opportunity to secure prime retail space in a high-traffic area of Pensacola, Escambia County, Florida (zip code 32505). The property's strategic location and ample space make it ideal for a variety of retail businesses seeking a prominent presence in a thriving community.

• CAP approach

  CAP return

  Valuation

  6%

  $6,272,098

  6.5%

  $5,789,628

  7%

  $5,376,084

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,373,276

  Geo Method

  $5,643,841

• Alternative Use

  Use

  Valuation

  Residential

  $4,883,768

  Hospitality

  $4,473,506

  Educational

  $3,721,904

  Medical

  $3,849,906

  Retail

  $5,789,628

Location Insight

City

Pensacola

County

Escambia

State

Florida

Latitude

30.4297

Longitude

-87.2401

CBSA code

37860

CBSA name

PENSACOLA-FERRY PASS-BRENT, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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