501 E Gregory St
Pensacola, FL 32502
Starbucks Center - Pensacola, FL · Retail Property For Sale

The CBRE Net Lease Property Group is pleased to exclusively offer a 4,960-square-foot, three-tenant retail building that is 100% leased on a long-term basis to Starbucks, Nothing Bundt Cakes and Jimmy John' s as follows: " Starbucks | 10 years | 2,200 SF | 10% rent increases every five years " Nothing Bundt Cakes | 10 years | 1,500 SF | 10% rent increase every five years " Jimmy John' s | 10 years | 1,260 SF | 4% rent increases every two years The property, which is currently under construction, is ideally located on 0.89 acres in the heart of Downtown Pensacola, Florida (MSA Population: 478,043), which is the westernmost city in the Florida Panhandle. The site is situated with excellent access and visibility on a hard corner at the intersection of East Gregory Street (Traffic Count: 17,500 VPD) and North 10th Avenue, just 0.2 miles east of the ramp to Interstate 110 (Traffic Count: 55,000 VPD). The property is also strategically positioned immediately adjacent to Franco' s Italian Restaurant and Wendy' s, across from Whataburger and The Melting Pot, and proximate to Outback Steak House, Carrabba' s Italian Grill, Another Broken Egg Cafe, Saltgrass Steakhouse, Waffle House, Rodizio Grill, Gulf Coast Brewery, McGuire' s Irish Pub and a strip center anchored by Newk' s Eatery, Five Guys and Verizon, among many other retailers. The site also benefits from its position within Downtown Pensacola' s dominant retail and commercial corridor (3.7 MSF of retail, 6.4 MSF of office, 4.2 MSF of industrial and 1,459 multifamily units within a 3-mile radius).