5241 Gulf Breeze Pkwy Gulf Breeze, FL 32563
- Retail space
- 14,625 SF
- 1.97 lot acres
Current Use by Public Records
- Retail space
Property Details for 5241 Gulf Breeze Pkwy
- Year built
- 1976
- Construction
- STEEL FRAME
- Lot size
- 1.97 lot acres
- Property size
- 14,625 SF
- Zone code
- HCD
- Property type
- Retail space
- APN
- 24-2S-28-1150-00100-0160
- APU
- 242S281150001000160
Description
This 12,048 square foot shopping center in Gulf Breeze, Florida, presents a compelling value-add opportunity. Located on Gulf Breeze Parkway, this single-story, 1976-built property underwent renovations in 2024, including electrical, flooring, and roof upgrades. Currently 100% occupied by five tenants under NNN leases, the property offers significant upside potential by adjusting lease rates to market values ($17-$29/SF NNN). The 1.97-acre lot includes 30 on-site parking spaces and a rear laydown area for convenient deliveries and storage. The HCD zoning allows for flexibility, and there's potential for assemblage with an adjacent 0.98-acre parcel (not currently for sale). The property benefits from a strong location in a thriving commercial corridor with high traffic counts (35,500 CPD) and robust surrounding business activity and high average home values. Financial data for the surrounding 5-mile radius shows 766 businesses employing 5,259 people, with total sales exceeding $1.2 billion through June 2024. This well-maintained center is ideal for investors seeking to capitalize on a tight leasing market and strong local economy. The asking price is $2,500,000 ($207.50/SF).
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Gulf Breeze
- County
- Santa Rosa
- State
- Florida
- Longitude
- -87.0042
- Latitude
- 30.3984
- CBSA code
- 37860
- CBSA name
- PENSACOLA-FERRY PASS-BRENT, FL METROPOLITAN STATISTICAL AREA
