Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    216 - 220 Palafox Pl Pensacola, FL 32502

    View on Map
    Sponsored
    Source: https://www.saltercompany.com
    For Sale
    $2,150,000

    Historic Palafox Street, lucrative investment.

    Property size:
    4,405 SF

    Property Features for 216 - 220 Palafox Pl

    General Information

    Property type
    Residential offices
    Square Feet
    4,405 SF
    Price / Square Foot
    $488
    Class
    C
    Elevators
    N/A
    Lot Size
    5,817 SF

    Building Details

    Year Built
    1900
    Buildings
    1
    Stories
    1

    Overview

    Downtown Pensacola Office Investment Opportunity

    Located in downtown Pensacola, this commercial property features two adjacent, single-story office buildings totaling 4,405 square feet. Situated on a 0.13-acre lot, the property includes a shared parking lot. The first building encompasses 1,500 square feet and features exposed brick walls and high ceilings. The second building offers 2,811 square feet of space. The buildings are located on historic Palafox Street, placing them in the heart of Pensacola's business district. The combined square footage provides space for a variety of uses, making it suitable for entrepreneurs and professionals seeking a prominent location. The property's location and layouts offer potential for growth. The combined square footage offers flexibility for a single large tenant or the potential for multiple smaller tenants.

    We can help!

    Listing Contact
    Paul Salter

    Learn more

    Property Insight Report

    HighLights

    • Two prime single‑story office buildings totaling 4,405 square feet.
    • Located in Pensacola's vibrant downtown business district on historic Palafox Street.
    • Features a shared parking lot and sits on a 0.13‑acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential offices

    Suggested Use

    Restaurant Dental Office Real Estate Agency Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    State
    Florida
    Longitude
    -87.21439
    Latitude
    30.409794

    Nearby Similar for Sale

    • $449,000
      1,000 SF

      Pensacola Office/Multi-Family Opportunity

      Office or multi-family property in a fantastic Pensacola location.
      304 W Cervantes St, Pensacola, FL 32501
      View Details
    • $300,000
      0.13 Acres

      Pensacola Recording Studio for Sale

      Professional recording studio in Pensacola's cultural center.
      908 W Government St, Pensacola, FL 32502
      View Details
    • $539,000
      2,352 SF

      New Construction Duplex in Pensacola

      New duplex with one vacant unit and tenant-occupied unit.
      2805 N V St, Pensacola, FL 32505
      View Details
    • $350,000
      Pending

      Pensacola Duplex Near UWF Campus

      Income-producing duplex near UWF with rental upside.
      2002 Wyatt Dr, Pensacola, FL 32514
      View Details
    • New
      $189,400
      756 SF

      Pensacola Multifamily Investment Opportunity

      Multifamily property with multiple income streams on over an acre.
      4108 W Jackson St, Pensacola, FL 32505
      View Details
    • $229,900
      Pending

      Well-Maintained Duplex in Pensacola, FL

      Income-producing 2-unit duplex with updates and strong cash flow potential.
      2605 Talbert St, Pensacola, FL 32507
      View Details
    • $525,000
      1,560 SF

      Pensacola Retail Building on Nine Mile

      Retail building for sale near University of West Florida campus.
      2151 E Nine Mile Rd, Pensacola, FL 32514
      View Details
    • $895,000
      2,442 SF

      Updated Multi-Unit Investment Opportunity

      Income-producing property with four updated units near Downtown Pensacola.
      107 D St, Pensacola, FL 32502
      View Details
    • $398,000
      2,080 SF

      Income-Producing Duplex in Pensacola, FL

      Turn-key duplex with modern amenities, ideal for investors or Airbnb.
      8400 Carl Dean St, Pensacola, FL 32514
      View Details
    • $1,250,000
      0.76 Acres

      Waterfront Lot in Star Lake

      Waterfront lot with boating access to Pensacola Bay.
      37 Lakeside Dr, Pensacola, FL 32507
      View Details
    • $599,900
      Pending

      Luxury Duplex Near Pristine Beaches

      Luxury duplex investment property with high-end finishes and furnishings.
      14013 Innerarity Point Rd, Pensacola, FL 32507
      View Details
    • $795,000
      1,452 SF

      Updated Triplex in Historic North

      Updated triplex near downtown Pensacola with modern finishes.
      4 W De Soto St, Pensacola, FL 32501
      View Details

    FAQs

    What type of property is this?
    Residential office - Historic Palafox Street, lucrative investment.
    Where is this residential office located?
    The property is located at 216 - 220 Palafox Pl Pensacola, FL.
    What is the asking price?
    The asking price for this property is $2,150,000.
    What are key features of this property?
    This property features: Two prime single-story office buildings totaling 4,405 square feet.; Located in Pensacola's vibrant downtown business district on historic Palafox Street.; Features a shared parking lot and sits on a 0.13-acre lot.
    (850) 564-0120
    Request Owner's contact information
    216 - 220 Palafox Pl Pensacola, FL 32502
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    216 - 220 Palafox Pl
    Pensacola, FL 32502
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    216 - 220 Palafox Pl Pensacola, FL 32502
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Paul Salter
    (850) 564-0120
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!