2335 Klinger Street, Pensacola, FL 32514

Please note: Whereas it is possible that this listing is posted with a stated price, this asset could sell for more or less than the stated price since this is an Absolute Auction with no minimum bid. Bidding Opens: Monday, April 2 at 2:00 PM CT Bid Deadline: Wednesday, April 11 at 11:00 AM CT Inspection: Monday, April 9 at 10:00 AM SHARP or by appointment The asset is improved with a 3,750±SF office building, constructed in 1975 on 0.46± acres, per the Escambia County Property Appraiser. Its most recent use was as a recording studio. During our inspection, severe deferred maintenance was noted. The building's mechanical systems were inoperable and the overall condition of the improvements was considered to be very poor. The full nature and extent of the deferred maintenance is unknown; however, based on our observations during the inspection, we have concluded that the building improvements, in their current state, are at or near the end of their useful life. The property is located on the south side of Klinger Street, and the west side of Binkley Street, at the southwestern corner of these two streets. The subject is also located just south of the southern terminus of Faith Lane. The subject's location is along secondary thoroughfares, east of N. Davis Highway. In the immediate vicinity of the subject, predominant land uses are single‐family and multifamily residential, with commercial uses located along Davis Highway, west of the subject's location, and along E Olive Road, south of the subject's location. The site is rectangular in shape, with dimensions of approximately 150 feet in width and 133 feet in depth. Site utility based on shape and dimensions is average. The site is generally level and at street grade. The subject is zoned MDR, Medium Density Residential, by Escambia County. The primary intent of the MDR zone is to allow for residential neighborhood development. The district allows non‐residential uses that are compatible with suburban and urban residential neighborhoods. Although nonresidential uses are allowed in the MDR zone, retail sales, retail services, industrial, and general office is not allowed. Certain public and civic uses are allowed, such as clubs (civic and fraternal), education facilities, places of worship, and offices for government or public utilities. The exterior inspection showed a building that has been poorly maintained. It was raining during the inspection, and missing gutters/downspouts were evident. Water was wicking through the soffits and there were holes in the roof facia. Branch wiring was observed to be loose/hanging from junction boxes. The building's HVAC system had been removed and electrical and service lines to interior air handler had been cut/improperly terminated. Mildew and rust was present on the exterior of the building. The site improvements (asphalt parking lot) were in fair shape, with several potholes and cracks. The asphalt was raveling. The interior of the building represented a structure which has not been adequately maintained. Water intrusion was evident and active leaks were observed. Several ceiling tiles had fallen and were water stained. Animals were also observed inside the building between the drop ceiling and the roof. Animal damage was observed to the AC ducting. Floor drains in the restrooms were surrounded by sediment, a possible sign of sewage backflow or a large‐scale water intrusion event. Drywall was moisture stained in several rooms. Mold and mildew was observed. Several areas of the floor were severely warped. Zoned MDR Medium Density Residential Escambia County Tax ID# 02-2525-000 Parcel Ref.# 181S301201005005 2017 Taxes Due $2,377.23 Assessed Value $152,161