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    700 Pace Blvd Pensacola, FL 32505

    Sponsored
    For Sale
    $3,923,076

    Pensacola, FL: High-yield Walgreens

    Property size:
    14,141 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a fee-simple ownership of a 14,141 square foot Walgreens located at 700 N Pace Blvd, Pensacola, Florida 32505. The property sits on a 1.95-acre lot and includes 72 parking spaces. Built in 2003, this single-story building is currently operating under a Net Lease agreement with Walgreens, a credit-rated, publicly traded corporation (NYSE: WBA). The absolute NNN lease commenced September 1, 2004, and has a remaining term of approximately 3.8 years, with ten five-year renewal options. The current lease provides a substantial annual Net Operating Income (NOI) of $255,000, resulting in a compelling 6.50% capitalization rate. The asking price is $3,923,076, translating to a price per square foot of $277.43. The property features a concrete slab foundation, wood framing, painted stucco exterior, asphalt parking, and a flat roof. This is a rare opportunity to acquire a stable, high-performing retail asset with a long-term tenant and significant upside potential. The property's strong location in Escambia County, Florida, ensures consistent traffic and customer flow. This investment offers exceptional long-term value and security.

    Property Features for 700 Pace Blvd

    General Information

    Property type
    Individual retail properties
    Square Feet
    14,141 SF
    Lot Size
    84,942 SF

    Building Details

    Year Built
    2003
    Stories
    1

    HighLights

    • Walgreens (NYSE: WBA) occupies the property under a lease with just under 4 years remaining, plus ten 5‑year options.
    • The single‑story, 14,141 SF building sits on a 1.95‑acre fee simple lot and was built in 2003.
    • The property features 72 parking spaces, providing a 5.09:1,000 SF parking ratio.
    • Construction includes a concrete slab foundation, wood framing, painted stucco exterior, asphalt parking, and a flat roof.
    Property Profile Location Intelligence

    Current Use by Public Records

    Nasya M. McSwain, ... Pharmacy Cardtronics ATM Atm FedEx OnSite Mailing Service Bay Area Printing ... Business To Business Service James L. Wheat, ... Pharmacy

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    County
    Escambia
    State
    Florida
    Longitude
    -87.2407533
    Latitude
    30.4201476

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    FAQs

    What type of property is this?
    Individual retail property - Pensacola, FL: High-yield Walgreens
    Where is this individual retail property located?
    The property is located at 700 Pace Blvd Pensacola, FL.
    What is the asking price?
    The asking price for this property is $3,923,076.
    What are key features of this property?
    This property features: Walgreens (NYSE: WBA) occupies the property under a lease with just under 4 years remaining, plus ten 5-year options.; The single-story, 14,141 SF building sits on a 1.95-acre fee simple lot and was built in 2003.; The property features 72 parking spaces, providing a 5.09:1,000 SF parking ratio.
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    700 Pace Blvd Pensacola, FL 32505
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    700 Pace Blvd Pensacola, FL 32505
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