Multi-Tenant Retail Shopping
4469 Mobile Hwy Pensacola, FL 32506
4469 Mobile Hwy, Pensacola, FL, 32506
$9,869,000
For Sale
$9,869,000
Fee-simple multi-tenant shopping center with 96.7% occupancy and a renovated medical office vacancy.
Property Size68,380 SF
Lot Size6.30 Acres
Price / SF$144.33
Days on Market154
Property Features for 4469 Mobile Hwy
General Information
- Standard status
- Active
- Size
- 68,380 SF
- Lot size
- 6.30 Acres
- Property subtype
- Neighborhood Center
Listing agency
NAI | Halford
(850) 291-3341
Listed by
Cameron Cauley · License ##SL3284874
(850) 291-3341
Source
Thebrokerlist
Added: Feb 18 Updated: Jul 22 at 11:11AM Checked: Jul 22 at 11:11AM
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 NAI | Halford
Investment Insights
Based on property information with market context.
Paradise Square Shopping Center is a well-maintained, multi-tenant retail property offering fee-simple ownership on a 6.3027-acre site. Constructed in 1975, the center received a major update in 2010 and has continued with capital improvements including a new roof, five new HVAC systems in 2020, and interior and exterior enhancements through 2022. The property is currently 96.7% occupied. Unit 3 is the remaining 3.3% vacancy and is a fully renovated medical office suite with 2,280 square feet.
The center is positioned at a busy, lighted hard-corner intersection with access from three drives and pylon signage on the two primary access drives. The property reports 814 feet of frontage and exposure to traffic counts of 31,500 CPD on Mobile Highway and 20,500 CPD on Fairfield Drive.
Paradise Square is professionally managed and is described as operating with tenants in place on NNN leases. The offering also includes 1 acre of unused surplus parking that could be sold and utilized for build-to-suit development or made available for a land lease for additional income. The property is being offered free and clear.
The center is positioned at a busy, lighted hard-corner intersection with access from three drives and pylon signage on the two primary access drives. The property reports 814 feet of frontage and exposure to traffic counts of 31,500 CPD on Mobile Highway and 20,500 CPD on Fairfield Drive.
Paradise Square is professionally managed and is described as operating with tenants in place on NNN leases. The offering also includes 1 acre of unused surplus parking that could be sold and utilized for build-to-suit development or made available for a land lease for additional income. The property is being offered free and clear.
Key Highlights
- 68,380 SF multi‑tenant retail center on a 6.3027‑acre site with fee‑simple ownership
- Hard‑corner location at Mobile Highway (31,500 CPD) and Fairfield Drive (20,500 CPD) with 814' frontage and access from three drives
- 96.7% occupied on NNN leases, with 3.3% vacancy: Unit 3 is a 2,280 SF fully renovated medical office suite
Local 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 | $1.23M | $18.00 |
| − Vacancy | −$126.8k | −$1.85 |
| EGI | $1.10M | $16.15 |
| − OpEx | −$331.2k | −$4.84 |
| NOI | $772.8k | $11.30 |
68,380 SF · lease $18.00/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Office B
$16.47M
$14.42M – $19.22M
NOI $1,153,232 @ 7.0% cap · market cap 11.69%
Second Best
Healthcare Medical
$13.18M
$11.53M – $15.38M
NOI $922,585 @ 7.0% cap · market cap 9.35%
Theoretical Best
Office A
$20.07M
$17.56M – $23.41M
NOI $1,404,803 @ 7.0% cap · market cap 14.23%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Bingo Paradise Inc
Bingo Hall
ATM
Atm
William Scott Vipcare ...
Physician
Florida Medical Lab
Medical Laboratory
Dr. Edwin Roberts, ...
Alternative Medicine Practice
Similar For Sale Nearby
Similar Off Market Nearby
- Quick-Tag — Walmart Supercenter, 4600 Mobile Hwy #122, Pensacola, FL 32506
FAQs
What type of property is this?
Shopping center - Fee-simple multi-tenant shopping center with 96.7% occupancy and a renovated medical office vacancy.
Where is this shopping center located?
The property is located at 4469 Mobile Hwy Pensacola, FL.
What is the asking price?
The asking price for this property is $9,869,000.
What are key features of this property?
This property features: 68,380 SF multi‑tenant retail center on a 6.3027‑acre site with fee‑simple ownership; Hard‑corner location at Mobile Highway (31,500 CPD) and Fairfield Drive (20,500 CPD) with 814' frontage and access from three drives; 96.7% occupied on NNN leases, with 3.3% vacancy: Unit 3 is a 2,280 SF fully renovated medical office suite
