Prime Retail Space For
2023 Dr Martin Luther King Jr Dr Pensacola, FL
For Sale
Contact for pricing
1,860 SF retail space in a vibrant Pensacola location.
Property Size1,860 SF
Lot Size0.17 Acres
Price / SF$155.91
Days on Market592
Property Features for 2023 Dr Martin Luther King Jr Dr
General Information
- Standard status
- Active
- Size
- 1,860 SF
- Lot size
- 0.17 Acres
- Property subtype
- RETAIL
Listing Agency:
Coldwell Banker Commercial Realty
(850) 748-2264
Listed By:
Michael Mangrum
(850) 748-2264
Source:
Moodyscre
Added: Dec 11, 2024
Changed: Jul 6
Last Checked: Jul 21 at 5:13AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Commercial Realty
Investment Insights
Based on property information with market context.
This 1,860 square foot retail space is for sale in Pensacola, Florida. The property is situated on Dr. Martin Luther King Jr Dr, benefiting from high visibility and foot traffic due to its location amidst residential neighborhoods, commercial enterprises, and community services. The space features a flexible floor plan that can be customized for various retail concepts, from boutiques to service-oriented businesses. Large storefront windows provide natural light and visibility, complemented by modern electrical and plumbing systems. The location is accessible via I-110 and thoroughfares, with parking available at the rear of the building. The surrounding neighborhood fosters community engagement, making it suitable for businesses looking to connect with residents. The building is located at the intersection of Dr. Martin Luther King Dr., E Jordan St, and N Haynes St, with two curb cuts providing easy access to I-110. This adaptable space is suited for launching a new retail store, expanding an existing location, or starting a pop-up venture.
Key Highlights
- Prime location on Dr. Martin Luther King Jr Dr with high visibility and foot traffic.
- Easy access to I‑110 via 2 curb cuts.
- 1,860 square feet of adaptable retail space suitable for various business concepts.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $33.5k | $18.00 |
| − Vacancy | −$3.4k | −$1.85 |
| EGI | $30.0k | $16.15 |
| − OpEx | −$9.0k | −$4.84 |
| NOI | $21.0k | $11.30 |
1,860 SF · lease $18.00/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$300.3K
$262.8K – $350.4K
NOI $21,022 @ 7.0% cap · market cap 7.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$545.9K
$477.7K – $636.9K
NOI $38,212 @ 7.0% cap · market cap 13.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
FAQs
What type of property is this?
Retail space - 1,860 SF retail space in a vibrant Pensacola location.
Where is this retail space located?
The property is located at 2023 Dr Martin Luther King Jr Dr Pensacola, FL.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Prime location on Dr. Martin Luther King Jr Dr with high visibility and foot traffic.; Easy access to I‑110 via 2 curb cuts.; **1,860 square feet of adaptable retail space** suitable for various business concepts.
