1717 T StWest Pensacola, FL 32505

Property Details for 1717 T St

Year built

1970

Construction

WOOD

Lot size

8.16 AC

Property size (Sq ft)

16,556 SF

Zone code

HC/LI

Property type

Investment properties

Property subtype

Live-work space

APN

31-2S-30-3000-001-030

APU

312S303000001030

Description

This exceptional investment opportunity presents a thriving 80,000 square foot flea market in West Pensacola, Florida. Located on a 12.74-acre lot at 1717 N T St, 32505, this established business boasts 446 vendor units, currently operating at 100% occupancy. The property features a gross lease structure and includes a separate two-acre commercial parcel with an 18,000 square foot building, offering potential for redevelopment or renovation. The asking price is $4,800,000, representing a compelling $60 per square foot and a 9.11% cap rate, with a current NOI of $437,400. The property benefits from heavy commercial/light industrial zoning and is situated near downtown Pensacola. The sale includes both the real estate and the established business, complete with experienced local management, minimizing the buyer's operational involvement. This highly profitable flea market has a strong history of success, demonstrating resilience to economic downturns and online competition. The primary income stream is derived from vendor booth rentals, housed within fixed-roof structures recently updated with new roofs. This is a cash-flow positive business ideal for active business entrepreneurs seeking a proven, recession-resistant investment.

• CAP approach

  CAP return

  Valuation

  6%

  $2,242,256

  6.5%

  $2,069,775

  7%

  $1,921,934

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,120,542

  Geo Method

  $1,176,966

• Alternative Use

  Use

  Valuation

  Residential

  $2,566,520

  Hospitality

  $2,350,919

  Educational

  $1,955,937

  Medical

  $2,023,205

  Retail

  $3,042,569

Location Insight

City

Pensacola

County

Escambia

State

Florida

Latitude

30.4304

Longitude

-87.2478

CBSA code

37860

CBSA name

PENSACOLA-FERRY PASS-BRENT, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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