101 Palafox St Pensacola, FL 32502

This exceptional mixed-use property, located at 101 S Palafox St in Pensacola, Florida, presents a unique investment opportunity. The 12,684 square foot building, constructed in 1900, sits on a 0.81-acre lot in the heart of downtown Pensacola's vibrant commercial district. Palafox Street's designation as one of America's "Top Ten Great Streets" underscores its prime location, surrounded by thriving retail, entertainment, and dining options. The property's zoning allows for significant redevelopment potential, with up to 200,000+ buildable square feet and a maximum building height of 150 feet. The existing building offers immediate income potential, while the expansive site allows for a variety of development options, including multi-family residential (up to 110 units permitted, with a density allowance of 135 units per acre), retail, and hospitality uses. This versatile property is ideally suited for investors seeking a high-impact project in a thriving Florida market. The property's central location provides easy access to a diverse range of amenities, including a minor league baseball team, a 10,000-seat arena, and numerous restaurants and shops. This is a rare chance to acquire a significant asset in a rapidly growing area. The property's Class B designation reflects its existing condition, offering a strong foundation for future development and enhancement.