1915 W Pensacola St

Retail-Commercial for Sale
Catylist Listing ID: 30650751
Property Subtypes: Restaurant
Building Size (RSF): 1,856 SF
Gross Building Area: See Agent
Sale Price: $900,000
Unit Price: $484.91 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/15/2020

Overview / Comments

NNN Restaurant Investment with 4 years remaining on initial term. Restaurant was completely renovated in April 2018. Experienced, successful operator with other restaurants in the area. Personal guarantee from current operator as well.

FF&E to stay with property includes the following; 21' hood, walk-in freezer, three compartment sink, hand sinks, all TV's, and ceiling fans.

Initial Term | 9/15/2019 - 9/14/2024
Current Base Rent | $66,744 Annually
Annual Increases | 3.0%
NNN Lease Structure
Option 1 | 9/15/2024 - 9/14/2029 (3% Increases Throughout)
Option 2 | 9/15/2029 - 9/14/2034 (3% Increases Throughout)

Additional Details

Nearest MSA: Tallahassee
County: Leon
Tax ID/APN: 2134510001270

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 25,261 98,068 164,454
Median Age: 21.7 26.32 29.76
Households: 10,022 38,723 68,142
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