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Marcus & Millichap Sells Cervantes St. Industrial And Retail Building In Pensacola For $1.3M

Property Image
SOLD
$1,300,000
Mher Vartanian
Craig Dunkle

Florida

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Industrial14,392 SF
Sold 06/13/2023
the dealplayerscompscontact
Property Image
SOLD

Marcus & Millichap Sells Cervantes St. Industrial And Retail Building In Pensacola For $1.3M

1417 W Cervantes St Pensacola, FL 32501, USA

See Similar Deals
Industrial14,392 SF
Sold 06/13/2023
Mher Vartanian
Craig Dunkle
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$90
Total Square Footage:14,392 SF
Transaction Type:Sale

The Cervantes St. Industrial and Retail Building in Pensacola, Florida has been sold by DEP for $1.3 million. The property is located at 1417 West Cervantes Street and spans 14,392 square feet. The sale price equates to a price per square foot of $90. The building has undergone recent renovations and currently has four tenants. Its convenient location near major roadways provides easy access to I-10 and other east coast cities.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $1,300,000
  • Address: 1417 West Cervantes Street, Pensacola
  • Market: Pensacola

Marcus & Millichap, represented by Craig Dunkle and Mher Vartanian, facilitated the sale of the Cervantes St. Industrial and Retail Building. The involvement of these brokers highlights their role in overseeing the transaction.

Players

Craig Dunkle
SCOPE
Craig Dunkle
11 deals$60.9M volume(717) 554-4881
BROKER
Mher Vartanian
SCOPE
Mher Vartanian
9 deals$54.9M volume
BROKER

Details

SOLD
IMAGE: Mher Vartanian & Craig Dunkle DATE: 06/13/2023 ADDRESS: 1417 West Cervantes Street MARKET: Pensacola ASSET TYPE: Industrial SELLER: DEP BROKERS: Craig Dunkle (@Craig__Tyler) & Mher Vartanian (@Mher_Vartanian) - Marcus & Millichap (@MarcusMillichap_Fl) SALE PRICE: $1,300,000 SF: 14,392 ~ PPSF: $90 NOTE: Marcus & Millichap has sold the Cervantes St. Industrial and Retail Building in Pensacola, Florida for $1.3 million. The property, with recent renovations and four tenants, is conveniently located near major roadways and offers easy access to I-10 and other east coast cities.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$69,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,618.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,162.66
Annual Debt Service$73,951.96