2400 Michigan AvePensacola, FL 32526

Property Details for 2400 Michigan Ave

Year built

1985

Construction

WOOD

Lot size

2.42 AC

Property size (Sq ft)

8,150 SF

Zone code

COM

Property type

Retail properties

Property subtype

Community centers

APN

43-1S-30-1101-004-001

APU

431S301101004001

Description

Westgate Village, a newly renovated 30,000 square foot commercial center in Pensacola, Florida, offers versatile office and retail spaces. Located at 2400 W Michigan Ave, this Class B property boasts 20 suites, with sizes ranging from 750 to 3,000 contiguous square feet, perfect for businesses seeking flexible options. Recently updated in 2024, the property features fresh paint, new landscaping, improved lighting, and ample parking. Its convenient location on Michigan Avenue, between Mobile Highway and Highway 29, ensures high visibility and accessibility. The property is zoned COM by Escambia County and is currently under new ownership and management, promising a welcoming and professional environment. Multiple tenancy options are available, making it ideal for a variety of businesses. A new monument sign is forthcoming, further enhancing the property's curb appeal. Currently, four spaces are immediately available. This is an excellent opportunity for businesses seeking a modern, well-maintained space in a prime Pensacola location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,622,575

  6.5%

  $1,497,761

  7%

  $1,390,778

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,390,052

  Geo Method

  $1,460,046

• Alternative Use

  Use

  Valuation

  Residential

  $1,263,418

  Hospitality

  $1,157,284

  Educational

  $962,846

  Medical

  $995,960

  Retail

  $1,497,761

Location Insight

City

Pensacola

County

Escambia

State

Florida

Latitude

30.4613

Longitude

-87.2816

CBSA code

37860

CBSA name

PENSACOLA-FERRY PASS-BRENT, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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