216 Palafox St Pensacola, FL 32502
- Office Properties & Spaces
- 4,311 SF
- 0.13 lot acres
Current Use by Public Records
- The Pensacola Real Estate Agent Dana Kniffen - Powered by Brix Realty - REALTOR / Real Estate Agent
Property Details for 216 Palafox St
- Lot size
- 0.13 lot acres
- Property size
- 4,311 SF
- Property type
- Office Properties & Spaces
Description
This exceptional investment opportunity presents two Class A office buildings totaling 4,311 square feet situated on a 0.13-acre lot in the heart of Pensacola's vibrant downtown business district at 216 & 220 S Palafox St. The property is zoned C-2A and offers a compelling blend of historic charm and modern functionality. One building, encompassing 1,500 square feet, showcases exposed brick and high ceilings, while the second, a spacious 2,811 square feet, provides ample room for expansion or multiple tenants. Both single-story buildings share a convenient parking lot. The asking price is $2,150,000, translating to $498.72 per square foot. The lease commencement date is July 5th, 2024, and expires July 5th, 2025. Occupancy is available September 2nd, 2024. This property is ideal for investors seeking a strong return in a thriving downtown location. The combined space offers significant potential for a variety of businesses seeking a prestigious address in Pensacola's bustling commercial center. The strategic location along historic Palafox Street ensures high visibility and accessibility. This is a rare opportunity to acquire two prime office buildings in a highly sought-after area.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pensacola
- County
- Escambia
- State
- Florida
- Longitude
- -87.2147
- Latitude
- 30.4097
