10171 N Palafox St Pensacola, FL 32534

This exceptional 2.5-acre property, situated at 10171 N Palafox St, Pensacola, FL 32534, presents a compelling redevelopment opportunity. Combined from two adjacent lots, this site enjoys a prime location on busy Pensacola Boulevard (Hwy 29) and Palafox Highway, boasting a combined daily traffic count exceeding 42,000 vehicles. This ensures unparalleled visibility and accessibility for any new development. Currently, the property features five existing buildings: one commercial building leased to a long-term antique store tenant (lease expiring December 2026 at $3,000/month), and four residential buildings on month-to-month leases (rentals: cottage at $1,100/month and double-wide trailer at $1,500/month). All utilities are readily available. The property also features mature oak trees, five septic systems, multiple electrical panels, and dual street access. Zoning permits 25 units per acre, making it highly suitable for multi-family development in a market with strong rental demand. Its proximity to Interstate 10 and a concentration of industrial and trade businesses also makes it ideal for an industrial complex, providing efficient transportation links throughout the Southeastern United States. This is a rare chance to acquire a significant parcel in a thriving mixed-use area with substantial redevelopment potential. The asking price is $799,000.