Current Use by Public Records
- Pashia Groom, Ph.D. / Physician / Medical Clinic
- Innovative Open MRI & Imaging / Medical Clinic
- Pensacola Military Housing / Real Estate Agency
- Cris Jagar / Physician
- Leif Sternung / Physician
Property Details for 890 Palafox St
- Year built
- 2003
- Property type
- Office Spaces
- Property subtype
- Office Units
Description
This exceptional investment opportunity presents a meticulously maintained, 3,500 square foot Class A office building in downtown Pensacola, Florida. Located at 890 S Palafox St, this stabilized, triple-net (NNN) investment property boasts 100% occupancy with two credit-rated tenants under a multi-tenant lease. The building, constructed in 2003, features two units and offers a strong, reliable income stream with a current NOI of $87,267 and a 6.76% cap rate. The current lease, with rent bumps, has a remaining term of approximately 3.3 years, expiring February 29, 2028, and includes two five-year lease options. The asking price is $1,290,000 ($368.57 per square foot). The property is zoned WRD, Commercial, and enjoys a prime location in a high-demand area. This represents a secure and lucrative investment opportunity for those seeking long-term financial growth in the vibrant Pensacola market. The property's modern and professional appearance creates a prestigious environment for tenants. The APN is 000S009125000018. Lease commencement is March 1, 2025.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Pensacola
- County
- Escambia
- State
- Florida
- Longitude
- -87.2132
- Latitude
- 30.4034
