Pensacola Professional Building with Ample
1851 St. Mary Avenue, Pensacola, FL 32501
7,140 SF Mid-City Professional Building For Sale
Property size:
7,140 SFLot size:
0.97 AcresPrice / SF:
$308/SF- Added:
- Feb 5, 2025
- Days on Market:
- 482
- Last Refresh:
- Mar 16 at 9:06 am
Property Features for 1851 St. Mary Avenue
General Information
- Standard status
- Active
- Property type
- Other specialty properties, Other office properties, Office buildings, Specialty properties, Office Spaces
- Size
- 7,140 SF
- Net Rentable
- 7,140 SF
- Class
- C
- Total Parking Spaces
- 46
- Elevators
- N/A
- Lot size
- 0.97 Acres
Building Details
- Year Built
- 2003
- Year Renovated
- 2014
- Buildings
- 1
- Stories
- 1
Listing agent Paul (850) 564-0120
Listing office (850) 564-0120
Listing date Feb 5, 2025
Overview
This 7,140 square-foot professional building is located in Pensacola, Florida. The building features a stucco exterior and a red-tiled roof. The property includes a 16-foot story height and a covered walkway. Mature landscaping, including oak trees, surrounds the building. The property provides over 50 parking spaces with painted bumpers, accessed via multiple drives from St. Mary Avenue. A secured rear yard offers privacy. The interior is designed for multiple tenants, featuring twenty offices, five restrooms, and a large 40' x 32' open area suitable for cubicles or training. There are also three 20' x 18' conference rooms. The building is suitable for a company headquarters or as a multi-tenant office space. Its mid-city location provides access to I-10 and I-110, and proximity to Escambia County Administrative services, Baptist Hospital, and Ascension Sacred Heart. The lot size is 0.97-acre. The building has rigid frame construction.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $179.1k | $25.08 |
| − Vacancy | −$18.5k | −$2.59 |
| EGI | $160.6k | $22.49 |
| − OpEx | −$40.1k | −$5.62 |
| NOI | $120.4k | $16.87 |
7,140 SF · lease $25.08/SF/yr · vacancy 10.34% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.72M
$1.51M – $2.01M
NOI $120,416 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.10M
$1.83M – $2.44M
NOI $146,685 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Specialty properties
Map
- City
- Pensacola
- County
- Escambia
- State
- Florida
- Longitude
- -87.2234
- Latitude
- 30.4205
Nearby Similar for Sale
FAQs
What type of property is this?
Specialty property - 7,140 SF Mid-City Professional Building For Sale
Where is this specialty property located?
The property is located at 1851 St. Mary Avenue Pensacola, FL.
What is the asking price?
The asking price for this property is $2,200,000.
