2200 Palafox St Pensacola, FL 32501-1723

This exceptional 17,040-square-foot freestanding building, located at 2200 N Palafox St in Pensacola, Florida (32501), presents a unique investment opportunity. Situated on a 1.36-acre lot (APN: 000S009010001129) with C-3 zoning, this single-story, 1983-built property boasts prominent frontage on Palafox and Maxwell Streets. Completely renovated in 2022, the building features new floors, drywall, electrical systems, doors, LED lighting, plumbing fixtures, ten showers, a state-of-the-art HVAC system, flood barriers, and fire sprinklers. The current configuration includes 36 private rooms, multiple lounges, four offices, fourteen bathrooms, ten shower rooms, a laundry room, a classroom, and a large dining area with a commercial kitchen. The layout is easily adaptable for multi-tenant office use, group homes, or non-profit residential purposes. The property benefits from multiple restrooms and exterior entrances, facilitating efficient space division. A recent appraisal (August 2023) valued the property at $3.35 million. The building has a robust 3-phase, 800-amp electrical service. The property is fenced with gated rear access and rail access. Expansion is possible with negotiable adjoining lots totaling an additional 0.90 acres (Parcel IDs: 000S009010007129 and 000S009010014129), both zoned C-3. The current tenant, MTM, will vacate with 30 days' notice. Floor plans are available upon request. This is a prime opportunity for a savvy investor seeking a versatile and well-maintained property in a desirable location. The asking price is $2,460,000 ($144.37/sq ft), and the lease type is NNN.