Listed By: Paul Salter Show Phone

Added: Feb 7, 2025 Changed: Mar 16

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Investment Insights

Based on property information with market context.

This 3,686 square foot commercial property is located in Century, Florida, and offers an investment opportunity. Situated on approximately 2.3 acres, the property features highway frontage, providing visibility and accessibility. The main structure is a Southern-style residence with expansive rooms, hardwood floors, cased windows, plantation shutters, and fireplace mantles. Covered porches extend from the front and rear of the building. The property includes an in-ground swimming pool, a carport, and a workshop. Mature hardwoods shade the lot. The property's size and location make it suitable for various commercial ventures, including a bed and breakfast, an antique store, or a boutique clothing shop.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$41,660

Cap Rate

8.33%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$833,200 $833.2K

Cap Rate 7%

$595,143 $595.1K

Cap Rate 9%

$462,889 $462.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,686 SF

Gross rent

$66.3K $18.00/SF

− Vacancy

−$6.8K −$1.85/SF

EGI

$59.5K $16.15/SF

− OpEx

−$17.9K −$4.84/SF

NOI

$41.7K $11.30/SF

Area

Escambia County, FL

Vacancy

10.30%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$833,200

Cap Rate 7%

$595,143

Cap Rate 9%

$462,889

Alternative Uses

Best Use

Retail

$595.1K

$520.8K – $694.3K (±1% cap)

NOI $41,660 @ 7.0% cap · market cap 8.33%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.08M

$946.6K – $1.26M (±1% cap)

NOI $75,725 @ 7.0% cap · market cap 15.15%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Retail properties & Spaces

Suggested Use

Top Pick Dental Office HVAC Service Building Supply Hair Salon (Bike/Boat/Book/etc) Store Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

3

Businesses Nearby

Explore this area Business Placement

Demographics for 32535, FL

6,043

Population

2,036

Households

3

Avg Household Size

40

Median Age

6%

College-Educated

78%

High-School Grad

70.5 sq mi

ZIP Area

86

Density / Sq Mi

$40,318

Median Household Income

$26,707

Median Earnings

$731

Median Rent

$124,700

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Frequently Asked Questions

What type of property is this?

Other retail property - 3,686 SF Century House Exquisite Commercial Property with Endless Possibilities For Sale

Where is this other retail property located?

The property is located at 0 1 Hecker Road Century Century, FL.

What is the asking price?

The asking price for this property is $499,900.