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Pensacola Florida 5110 North 9Th Ave

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Pensacola Florida 5110 North 9Th Ave DF Downing Frye Realty, Inc. Pensacola Florida 5110 North 9th Ave. Cordova Mall Pensacola, Florida 32504 Asking Price - $5,254,775,000 | 6.20% CAP Rate Financial Offering Summary FRDF Asking Price – $5,254,775.00 | 6.20% CAP RATE Rent Increases Annual Rent Monthly Rent Location – 5110 North 9th Ave Cordova Mall Pensacola, FL 32504 Year 7 (8/01/2020) $325,796 $27,149.65 Year 8 $332,312 $27,692.65 Building Size – 8,298 SF Year 9 $338,958 $28,246.50 Lot Size – 1.03 acres Year 10 $345,737 $28,811.43 Date Remodeled – 11/04/2008 Year 11 $352,652 29,387.66 Year 12 $359,705 29,975.41 Tenant – Red Lobster Hospitality, LLC Year 13 $366,899 $30,574.92 Guarantor – Red Lobster Intermediate Holdings, LLC Year 14 $274,237 $31,186.42 Year 15 $381722 $31,810.15 Lease Term – 25-years Year 16 $389,256 $32,446.35 Lease Commencement – 12/17/2015 Year 17 $397,143 $33,095.28 Lease Expiration – 1/31/2040 Year 18 $405,806 $33,757.18 Lese Term Remaining – 18+ years Year 19 $413,188 $34,432.33 Lease Type – Triple-Net (NNN) Year 20 $421,452 $35,120.97 Roof & Structure - Tenant Responsibility Year 21 $429,881 $35,823.39 Year 22 $438,478 $36,539.86 Options to Renew – Four (4) Five Year Option Periods Year 23 $447,248 $37,270.66 Rental Increases – 2% Annually Year 24 $456,193 $38,016.07 Listing Agent: Rob Bollinger -#SL3335600 Year25 $465,317 $38,776.39 Phone # - (239) 776-2080 Email – [email protected] All information deemed reliable. Potential buyer or buyer's agent must do their own due diligence on all 3 information provided in this offering memorandum. LOCATION OVERVIEW FRDF This Red Lobster is located at 5110 North 9th Avenue at Cordova Mall in Pensacola, TRAFFIC COUNTS: Florida. Pensacola is westernmost city in the Florida panhandle, and is in and serves as the seat for Escambia County. Naval Air Station Pensacola is located in Pensacola Bay U.S. Interstate 10 – 62,475 VPD and is considered one of the most important bases for naval aviation. U.S. Interstate 110 - 79,300 VPD North 9th Avenue – 35,200 VPD There are approximately 62,700 people within a three-mile radius of this property and Pensacola State College – Two Miles away - 36,000+ Students more than 138,940 within a five-mile radius. The property is situated on outside Enrolled perimeter of Cordova Mall, the largest shopping center in the northwest Gulf Coast of US Navy Base – 5+/- miles away. Florida. The mall has over 858,000 square feet of retail space with over 120 retailers. North 9th Avenue and U.S. Interstates 10 and 110 are all in close proximity to this location and experience an average of 62,475, 79,300, and 35,200 vehicles respectively. POPULATION 1 – Mile 3 – Mile 5- Mile The subject property is well-positioned near several area attractions, benefitting from it’s proximity to national and local retailers. Nearby restaurants include Applebee’s, Olive 2020 5,700 61,550 140,468 Garden, Wingstop, and Red Robin’s. Sacred Heart Health System, a 566-bed major hospital facility is across the street from this Red Lobster, and features: an 2025 5,917 63,140 144,624 emergency/trauma center, a women's and children's hospital, a joint replacement center, Pop Growth 2020-2025 3.81% 2.58% 2.96% a medical center clinic, and a heart institute. One mile away are Holm Elementary School, Workman Middle School, and Washington High School with approximately Average Age 39.3 39.1 38.80 3,140 kids enrolled. Within two miles of this Red Lobster are both Pensacola International Airport, as well as HOUSEHOLD INCOMES Pensacola State College. Pensacola State College is the largest university in Pensacola and has over 36,000 students enrolled. Pensacola International Airport, one of the four 1 – Mile 3 – Mile 5- Mile major airports in North Florida, serves over 1,560,000 passengers annually. Baptist Health Care, Navy Federal Credit Union, and Sacred Heart Health Systems , the cities Average $56,220 $66,470 $62,934 three largest employers, employ a combined 11,882 individuals. Median $39,297 $48,343 $45,267 Listing Agent: Rob Bollinger -#SL3335600 Phone # - (239) 776-2080 All information deemed reliable. Potential buyer or buyer's agent must do their own due Email – [email protected] diligence on all information provided in this offering memorandum. 4 All information deemed reliable. Potential buyer or buyer's agent must do their own due diligence on all information provided in this offering memorandum. 5 Listing Agent: DF Rob Bollinger | FL license #SL3335600 Downing Frye Realty, Inc. (239) 776-2080 [email protected] 180 9th Street South Naples, Florida 34102.
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