Prime Retail Space For Sale

2023 Dr Martin Luther King Jr Dr, Pensacola, FL

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For Sale

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1,860 SF retail space in a vibrant Pensacola location.

Type:RETAIL

Property size:

1,860 SF

Lot size:

0.17 Acres

Price / SF:

$155/SF

Contact for Pricing

Please call us for current price
and status of this listing

Michael Mangrum

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.
Convenient parking available at the rear of the building.
Modern amenities including large storefront windows, electrical, and plumbing systems.
Located in a vibrant, diverse neighborhood fostering community engagement.

For Sale

Contact for pricing

1,860 SF retail space in a vibrant Pensacola location.

Type:RETAIL

Property size:

1,860 SF

Lot size:

0.17 Acres

Price / SF:

$155/SF

Added:: Dec 11, 2024
Days on Market:: 546
Last Refresh:: May 20 at 8:40 pm

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

We can help!

Listing Contact

Michael Mangrum

Listing agent Michael Mangrum

Listing office Coldwell Banker Commercial Realty

Listing date Dec 11, 2024

Source Moodyscre

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

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.
Convenient parking available at the rear of the building.
Modern amenities including large storefront windows, electrical, and plumbing systems.
Located in a vibrant, diverse neighborhood fostering community engagement.

Overview

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.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

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 (±1% cap)

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 (±1% cap)

NOI $38,212 @ 7.0% cap · market cap 13.18%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Retail space

Suggested Use

Location Insight

Map
Local Demand

City: Pensacola
County: Escambia
State: Florida
Longitude: -87.2147
Latitude: 30.4343

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For sale
Retail space
FL
Pensacola
2023 Dr Martin Luther King Jr Dr

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.

2023 Dr Martin Luther King Jr Dr, Pensacola, FL

1,860 SF retail space in a vibrant Pensacola location.

Property Features for 2023 Dr Martin Luther King Jr Dr

General Information

We can help!

HighLights

Overview

Local Financial Insights For Retail

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

New Construction Duplex Investment Opportunity

Single-Story Brick Ranch Home

Freestanding QSR with Drive-Thru

East Hill Spacious Brick Duplex

RV Lot in Boutique Resort

New Construction Duplex Investment Opportunity

New Construction Duplex Near Downtown

Value-Add Commercial Property For Sale

Free-Standing Building on 1.68 Acres

New Construction Duplex Near Downtown

Pensacola Restaurant - $1.5M

Turn-Key Bar Live Entertainment Venue

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