5020 BAYOU BLVD Pensacola FL 32503-2504

The TC Retail Group of Marcus & Millichap is pleased to present a rare opportunity to acquire Chick-fil-A Plaza, a Class A retail asset totaling just under 20,000 rentable square feet on 2.06 acres, ideally located in the heart of Pensacola’s primary retail corridor.

Strategically positioned as a shadow anchor to Cordova Mall — a top-performing regional mall attracting over 8 million annual visitors — the property also benefits from being directly across the street from a Target and Winn-Dixie anchored shopping center. It features excellent visibility, prominent signage, and easy access along Bayou Blvd, which sees over 23,000 vehicles per day.

In addition to the Chick-fil-A ground lease, the center is home to a strong lineup of national tenants including Firehouse Subs, T-Mobile, and European Wax Center. Significant value-add potential exists through the lease-up of the remaining vacancy, projecting a stabilized cap rate of 7.27% by year two.

The property is surrounded by a dense and affluent customer base, with over 140,000 residents within a 5-mile radius and an average household income exceeding $71,000 within 3 miles.

Surrounding retailers include: Publix, The Home Depot, Best Buy, Target, Winn-Dixie, Ross, Ulta Beauty, and many more.

•A+ Irreplaceable Location: Prime outparcel/shadow anchor to Cordova Mall, a top-performing regional mall with 8M+ annual visitors, and positioned directly across from a Target and Winn-Dixie anchored center

•Rare Chick-fil-A: With double drive thru on an absolute NNN ground lease, plus built-in value-add potential with the adjoining retail center included.

•NNN & Ground Lease Structure: Features a corporate Chick-fil-A ground lease at low rent and NNN leases with all inline tenants, ensuring minimal landlord responsibilities

•Significant Value-Add Opportunity: Lease-up of remaining vacancy delivers a projected 7.27% cap rate by year two, based on conservative assumptions of $24 PSF

•Newer Roof: The roof on the retail center was recently replaced in 2018 and includes a 15-year transferable warranty.

•Flexible Exit Strategy: Owner can lease remaining vacancy and sell as a whole, or subdivide parcels and retain/sell selectively

•Exceptional Visibility & Access: Located along Bayou Blvd with 23,000+ vehicles per day, offering high visibility, prominent signage, and easy ingress/egress

•Strong National Tenant Roster: Includes Firehouse Subs, T-Mobile, and European Wax Center

•Below-Market Rent Basis: CoStar estimates retail rents between $32–$39 PSF, highlighting upside versus current lease rates

•Tight Market Fundamentals: Area retail vacancy is under 3.5%, per CoStar, indicating robust tenant demand

•Dense & Affluent Demographics: 140,000+ residents within a 5-mile radius, with an average household income exceeding $71,000 within 3 miles

•High-Profile Neighboring Retailers: Surrounded by Publix, The Home Depot, Best Buy, Target, Winn-Dixie, Ross, Ulta Beauty, and more