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    2200 N Palafox St Pensacola, FL 32501

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    Sponsored
    Source: https://www.saltercompany.com
    For Sale
    $2,460,000

    17,040 SF building, fully renovated, sale or lease.

    Property size:
    17,040 SF

    Property Features for 2200 N Palafox St

    General Information

    Property type
    Other specialty properties
    Square Feet
    17,040 SF
    Price / Square Foot
    $144
    Class
    C
    Elevators
    N/A
    Lot Size
    59,565 SF

    Building Details

    Year Built
    1983
    Buildings
    1
    Stories
    1

    Overview

    Renovated Pensacola Building For Sale

    This 17,040-square-foot building is located in Pensacola, Florida, on a 1.36-acre lot. The property, zoned C-3, was fully renovated in 2022 and includes new floors, drywall, electrical systems, doors, LED lighting, plumbing fixtures, ten showers, HVAC, flood barriers, and fire sprinklers. The current layout features 40 private rooms, residential lounges, eight offices, fourteen bathrooms, ten shower rooms, a laundry room, a classroom, and a large dining area with a commercial kitchen. The building is equipped with a 3-phase, 800-amp electrical service. Multiple restrooms and exterior entrances allow for multi-tenant occupancy. The property is fenced and includes gated rear access and rail access. The building's layout is suitable for group homes or non-profit residential facilities. Adjacent lots totaling 0.90 acres are available for purchase, offering expansion potential. These lots, with parcel IDs 000S009010007129 (0.36 acres) and 000S009010014129 (0.53 acres), are also zoned C-3.

    We can help!

    Listing Contact
    Paul Salter

    Learn more

    Property Insight Report

    HighLights

    • Completely renovated 17,040 SF building in Pensacola, FL.
    • Features 40 private rooms, 8 offices, and 14 bathrooms.
    • 1.36‑acre lot with C‑3 zoning; rail access and expansion potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dr. Rogelio D. ... Pediatrician Tara L. Miller, ... Physician Calaycay Regulo MD Physician Donald Hess, PA Physician Pendergrass C Allen ... Physician

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    State
    Florida
    Longitude
    -87.219714
    Latitude
    30.434943

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    FAQs

    What type of property is this?
    Specialty property - 17,040 SF building, fully renovated, sale or lease.
    Where is this specialty property located?
    The property is located at 2200 N Palafox St Pensacola, FL.
    What is the asking price?
    The asking price for this property is $2,460,000.
    What are key features of this property?
    This property features: Completely renovated 17,040 SF building in Pensacola, FL.; Features 40 private rooms, 8 offices, and 14 bathrooms.; 1.36-acre lot with C-3 zoning; rail access and expansion potential.
    (850) 564-0120
    Request Owner's contact information
    2200 N Palafox St Pensacola, FL 32501
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    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
    2200 N Palafox St Pensacola, FL 32501
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    We can help!
    Listing Contact
    Paul Salter
    (850) 564-0120
    Learn more
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