2200 Palafox StPensacola, FL 32501

Property Details for 2200 Palafox St

Year built

1983

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.37 AC

Property size (Sq ft)

17,172 SF

Zone code

C-3

Property type

Healthcare properties

Property subtype

Assisted living facilities

APN

00-0S-00-9010-001-129

APU

000S009010001129

Description

This exceptional 17,040-square-foot freestanding building, located at 2200 N Palafox St in Pensacola, Florida (32501), presents a unique investment opportunity. Situated on a 1.36-acre lot (APN: 000S009010001129) with C-3 zoning, this single-story, 1983-built property boasts prominent frontage on Palafox and Maxwell Streets. Completely renovated in 2022, the building features new floors, drywall, electrical systems, doors, LED lighting, plumbing fixtures, ten showers, a state-of-the-art HVAC system, flood barriers, and fire sprinklers. The current configuration includes 36 private rooms, multiple lounges, four offices, fourteen bathrooms, ten shower rooms, a laundry room, a classroom, and a large dining area with a commercial kitchen. The layout is easily adaptable for multi-tenant office use, group homes, or non-profit residential purposes. The property benefits from multiple restrooms and exterior entrances, facilitating efficient space division. A recent appraisal (August 2023) valued the property at $3.35 million. The building has a robust 3-phase, 800-amp electrical service. The property is fenced with gated rear access and rail access. Expansion is possible with negotiable adjoining lots totaling an additional 0.90 acres (Parcel IDs: 000S009010007129 and 000S009010014129), both zoned C-3. The current tenant, MTM, will vacate with 30 days' notice. Floor plans are available upon request. This is a prime opportunity for a savvy investor seeking a versatile and well-maintained property in a desirable location. The asking price is $2,460,000 ($144.37/sq ft), and the lease type is NNN.

• CAP approach

  CAP return

  Valuation

  6%

  $2,273,356

  6.5%

  $2,098,482

  7%

  $1,948,591

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,336,570

  Geo Method

  $1,403,871

• Alternative Use

  Use

  Valuation

  Residential

  $2,662,013

  Hospitality

  $2,438,390

  Educational

  $2,028,712

  Medical

  $2,098,482

  Retail

  $3,155,774

Location Insight

City

Pensacola

County

Escambia

State

Florida

Latitude

30.4349

Longitude

-87.2197

CBSA code

37860

CBSA name

PENSACOLA-FERRY PASS-BRENT, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].