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    Pensacola Restaurant on Scenic Highway Title is generated by Realmo AI

    555 Scenic Hwy, Pensacola, FL 32503

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    Picture of Restaurants at 555 Scenic Hwy, Pensacola, FL
    For Sale
    $1,625,000

    2,868 SF Stand Alone Scenic Hwy Restaurant For Sale

    Property size:
    2,868 SF
    Lot size:
    0.39 Acres
    Price / SF:
    $566/SF
    Added:
    Feb 10, 2025
    Days on Market:
    476
    Last Refresh:
    Mar 16 at 9:06 am

    Property Features for 555 Scenic Hwy

    General Information

    Standard status
    Active
    Property type
    Restaurants, Other retail properties, Individual retail properties, Retail properties & Spaces
    Size
    2,868 SF
    Net Rentable
    2,868 SF
    Elevators
    N/A
    Lot size
    0.39 Acres

    Building Details

    Year Built
    1966
    Buildings
    1
    Stories
    1
    Units
    40

    We can help!

    Listing Contact
    Paul Salter

    Listing agent Paul

    Listing office

    Listing date Feb 10, 2025

    Overview

    This is a fully operational 2,868 square foot stand-alone restaurant situated on Pensacola's bustling Scenic Highway. The established business, Agapi Bistro and Garden, has consistent sales and increasing cash flow. The property includes dining areas, event spaces, a full bar with a liquor license, and a well-equipped commercial kitchen. Recent renovations include a new roof in 2020 and a 7.5-ton HVAC system in 2024. The parking lot has been recently seal-coated and re-striped. The building also features a drive-thru window and ample parking, accessible from two streets. The outdoor area is fully covered and landscaped, suitable for private events, offering additional seating and amenities such as outdoor cooking facilities, a wet counter, a champagne wall, a photo area, and a dance floor. A wine club with over 100 paid members adds value. Furniture, fixtures, and equipment are included. There is revenue growth potential by expanding operating hours, as the restaurant is currently closed Sundays and Mondays and does not offer lunch service. Total sales for 2024 were $1,372,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Agapi Bistro + Garden Restaurant

    Suggested Use

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

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

    Similar Places Nearby

    • Apple Market — 1021 Scenic Hwy, Pensacola, FL 32503

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    County
    Escambia
    State
    Florida
    Longitude
    -87.178441
    Latitude
    30.426783

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    FAQs

    What type of property is this?
    Restaurant - 2,868 SF Stand Alone Scenic Hwy Restaurant For Sale
    Where is this restaurant located?
    The property is located at 555 Scenic Hwy Pensacola, FL.
    What is the asking price?
    The asking price for this property is $1,625,000.
    (850) 564-0120
    We can help!
    Listing Contact
    Paul Salter
    Request Owner's contact information
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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.

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