3206 De Soto St Pensacola, FL 32503
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Turn-key operation, high NOI, strong CAP rate.
Property size:
5,832 SFProperty Features for 3206 De Soto St
General Information
- Property type
- Restaurants
- Square Feet
- 5,832 SF
- Class
- B
- Lot Size
- 27,007 SF
Building Details
- Year Built/Renovated
- 2014/2023
- Buildings
- 2
- Stories
- 2
- Units
- 2
Listing Agent: Cameron Cauley
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional investment opportunity encompasses two adjacent properties totaling 5,832 square feet in Pensacola, Florida. The package includes the thriving Agapi Bistro & Garden restaurant and Nancy's Catering, both fully operational and boasting combined 2024 sales (through September) of $1,830,000. Agapi Bistro, a 2,865 sq ft establishment located at 555 Scenic Hwy, features a full bar (with liquor license), updated kitchen, indoor/outdoor dining, and a recently renovated space. Key improvements include a new roof (2020), a 7.5-ton HVAC system (2024), and a seal-coated and restriped parking lot. The outdoor area is ideal for events, with outdoor cooking facilities and ample space. Nancy's Catering, situated at 3206 E De Soto St, occupies a 2,964 sq ft metal building (built 2014, renovated 2023) with an 18-foot ceiling, offering substantial storage, a walk-in cooler/freezer, and office space. Included are a delivery van, box truck, and catering supplies for up to 400 guests. The properties are situated on a 0.62-acre lot with ample parking, benefiting from high visibility on a busy corner of Scenic Highway and DeSoto Street. The asking price is $1,950,000, representing a $334.36/sq ft price and an attractive 11.54% cap rate with a current NOI of $225,000. The property is zoned R-NC and offers significant value-add potential, such as expanding lunch service. The current owner is retiring, presenting a seamless transition opportunity, with the executive chef available for a handover period. The property is a Class B building, built in 2014 and extensively renovated in 2023. The occupancy date is October 7, 2024.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Nancy's Catering & Events
Take-out & Catering
Location Insight
- Map
- Local Demand
- City
- Pensacola
- County
- Escambia
- State
- Florida
- Longitude
- -87.1780283
- Latitude
- 30.4272572
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FAQs
What type of property is this?
Restaurant - Turn-key operation, high NOI, strong CAP rate.
Where is this restaurant located?
The property is located at 3206 De Soto St Pensacola, FL.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Two adjacent properties totaling 5,832 square feet in Pensacola, Florida, including Agapi Bistro & Garden and Nancy's Catering.; Combined 2024 sales (through September) of $1,830,000. Agapi Bistro (2,865 sq ft) features a full bar with liquor license, updated kitchen, and indoor/outdoor dining; recently renovated with a new roof (2020) and 7.5-ton HVAC system (2024). Nancy's Catering (2,964 sq ft) is housed in a metal building (built 2014, renovated 2023) with ample storage, walk-in cooler/freezer, and office space; includes delivery van, box truck, and catering supplies.; Located on a 0.62-acre lot with ample parking, offering high visibility on a busy corner of Scenic Highway and DeSoto Street. Asking price: $1,950,000 ($334.36/sq ft), with an 11.54% cap rate and $225,000 NOI.