UTOPIA COTTAGES

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SP Multifamily Group of Marcus & Millichap is pleased to present qualified investors with the opportunity to acquire Utopia Cottages. Utopia Cottages is located in Pensacola, FL and is conveniently situated 0.5 miles from University of West Florida’s main campus. Utopia Cottages was built in 2020 and consists of 6 Units and 30 student housing Beds. Each unit is its own standalone cottage which offers a true home feeling for the students attending University of West Florida. Utopia Cottage’s interiors boast premium finishes such as stainless-steel appliances, raised panel cabinetry, granite countertops, stained concrete floors, washer/dryer appliances and bed/bath parity. Utopia Cottages offers the opportunity for a new buyer increase the current rents by 12.31% by furnishing all units and marketing the units to the tenant pool as fully furnished units.

Property tours are by appointment only. Please contact one of the listing brokers below to schedule tours.

8 | 22
UNITS | BEDS

12,224
SQFT

2020
YEAR BUILT

PRICED AT
MARKET BID

VITAL PROPERTY DATA

  • Property Addresses: 9822 Utopia Drive, Pensacola, FL

  • NUMBER OF UNITS: 8 Units

  • RENTABLE SQUARE FOOT: 12,224 SF

  • AVERAGE UNIT SIZE: 1,528 SF

  • NUMBER OF BUILDINGS: (8) Residential

  • LOT SIZE: 1.00 Acres +/-

  • FINANCING: Free and Clear

CLASS-A STUDENT HOUSING ASSET WITH RENTAL UPSIDE

  • Unique Class-A Cottage Style Student Housing Asset Consisting of 30-Beds/8-Units Built in 2020

  • Premium Unit Interior Finishes Include Stainless Steel Appliances, Stained Concrete Floors, Raised Panel Cabinetry, Recessed Lighting and More

  • Value Add Opportunity of Furnishing all Units and Increasing Rents by 12.31%

  • Less Than a Mile from Publix Supermarket, Target, Chick-Fil-A, Starbucks, Panera Bread, and More

  • Premier Location only 0.5 Miles (2 Minute Drive) to University of West Florida Which Boasts an Enrollment of 13,075

  • Located in a High Barriers to Entry Student Housing Market with Great Supply and Demand Demographics

CENTRALLY LOCATED CLOSE TO ALL MAJOR POINTS

  • 2-Minutes to University of West Florida (13,075 Total Enrollment)

  • 2-Minutes to East 9 Mile Road (Major Retail/Restaurant Thoroughfare)

  • 3-Minutes to University of West Florida’s Sports Complex

  • 5-Minutes to West Florida Hospital's Campus

  • 7-Minutes to Interstate 10 (Major East/West US Interstate)

  • 9-Minutes to University of West Florida’s Bike Trails

  • 13-Minutes to Downtown Pensacola

  • 14-Minutes to Pensacola International Airport

  • 17-Minutes to Baptist Hospital

PENSACOLA, FL: AT A GLANCE

  • Home to University of West Florida (13,000+ Enrollment)

  • $21.8 Billion Gross Domestic Product in 2021 (St. Louis FED)

  • 4.3% Unemployment Rate (Bureau of Labor Statistics)

  • 42% Projected 10-Year Job Growth (Bestplaces)

  • Median Household Income of $46,424 in 2020 (U.S. Census Bureau)

  • 54,312 Pensacola Population (U.S. Census Bureau)

DEAL TEAM CONTACTS

Benjamin Skinner
Associate Director | Senior Investment Associate
O. (407) 557-3889
Benjamin.Skinner@marcusmillichap.com

Matthew Prozzillo
Associate Director | Senior Investment Associate
O. (407) 557-3888
Matthew.Prozzillo@marcusmillichap.com

Contact an Agent Listed Above to Schedule Property Tours