- Available Spaces
• Year Built: 2007
2829 W Michigan Ave is aretail property for lease in Pensacola, FL. The property currently has 1 retail space for lease and is marketed by Gerald McArthur, Gulf Coast Real Estate Advisors, LLC.
Investment Property available with established tenants, including Family Dollar & PaPa John's
This newer retail center is located less than 1 mile east of Mobile Hwy/Michigan Ave. intersection, which boasts a traffic count of more than 30,000 cars per day
Suite A & B with 2,280 SF is available for lease (no discount, consignment stores or bars)
Subject to verification and updates:
Projected Rental and Operating Exp. Income $132,056
Less projected vacancy $10,849
Projected annual gross projected revenue - $121,207
Estimated annual expenses $14,462 ($1.13/SF) inc. RE taxes, Ins. and CAM
NOI - $106,745
These calculations are based on rentals as of 1-1-14. All assumptions are based on available data. Profit and loss statements were provided by Owner. Market rents have been applied to the gross rental income along with the existing leases for the 2 occupied suites (Family Dollar and Papa John's), which account for 82% of the income. Expense figures are estimates than may vary slightly.
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