Michigan Avenue Commercial Property For
1090 W Michigan Ave Pensacola, FL
For Sale
Contact for pricing
4.9 acres with 2,800 SF building on heavily trafficked Michigan Avenue.
Property Size2,800 SF
Lot Size4.94 Acres
Price / SF$242.50
Days on Market596
Property Features for 1090 W Michigan Ave
General Information
- Standard status
- Active
- Size
- 2,800 SF
- Lot size
- 4.94 Acres
- Property subtype
- LAND
Listing Agency:
Beau Box Florida LLC
(850) 225-0083
Listed By:
Phil Sherrill
(850) 225-0083
Source:
Moodyscre
Added: Dec 7, 2024
Changed: Jul 6
Last Checked: Jun 26 at 12:20PM
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 Beau Box Florida LLC
Investment Insights
Based on property information with market context.
This property features approximately 4.9 acres with over 500 feet of frontage on Michigan Avenue, abutting Crescent Lake and Marcus Bayou's watershed. It includes a 2,800 square foot building situated on the southeast hard corner of Michigan Avenue and E Shore Drive. The site benefits from high traffic volume, with 35,500 cars per day. The surrounding area is primarily residential, supported by commercial establishments along Michigan Avenue between W Street and Mobile Highway retail nodes. A new construction Dollar General is located across Michigan Avenue to the south. The mixed-use zoning allows for a variety of commercial and residential concepts.
Key Highlights
- High traffic location: 35,500 cars/day.
- Mixed‑use zoning allows for diverse commercial and residential development.
- 2,800 SF building on a prime hard corner.
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 | $50.4k | $18.00 |
| − Vacancy | −$5.2k | −$1.85 |
| EGI | $45.2k | $16.15 |
| − OpEx | −$13.6k | −$4.84 |
| NOI | $31.6k | $11.30 |
2,800 SF · lease $18.00/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$452.1K
$395.6K – $527.4K
NOI $31,646 @ 7.0% cap · market cap 4.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$821.8K
$719.0K – $958.7K
NOI $57,523 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
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FAQs
What type of property is this?
Storefront property - 4.9 acres with 2,800 SF building on heavily trafficked Michigan Avenue.
Where is this storefront property located?
The property is located at 1090 W Michigan Ave Pensacola, FL.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: High traffic location: 35,500 cars/day.; Mixed‑use zoning allows for diverse commercial and residential development.; **2,800 SF building on a prime hard corner.**
