5111 N 12th Ave Pensacola, FL 32504

Property Details for 5111 N 12th Ave

Year built

1991

Construction

TYPE NOT SPECIFIED

Lot size

2.14 lot acres

Property size

22,136 SF

Zone code

C-1

Property type

Office buildings

APN

33-1S-30-7110-000-002

APU

331S307110000002

Description

This exceptional investment opportunity presents a single-tenant, 22,296 square foot medical office building located at 5111 N 12th Ave, Pensacola, Florida 32504. The property, built in 1991 and situated on a 2.14-acre lot, is zoned C-1 and features a single-story building. Currently 100% occupied by a strong, long-term tenant under a Net Lease (NNN) agreement, this asset boasts a substantial Net Operating Income (NOI) of $390,402, resulting in a compelling 7.23% capitalization rate. The asking price is $5,400,000, translating to $242.20 per square foot. The lease includes rent bumps, providing for future income growth. Recent capital improvements include a new roof and HVAC system installed in 2024, minimizing future maintenance expenses for the investor. This prime location, strategically positioned between Cordova Mall and Pensacola International Airport, offers excellent visibility and accessibility. The property's strong tenant, a provider of advanced pain management solutions with multiple locations across Florida and Alabama, ensures a stable and secure investment with an 85-month initial lease term and 3% annual rent increases. This is a rare opportunity to acquire a high-performing, low-maintenance medical office building in a desirable location. The Escambia County property features a total of 24,197 square feet.