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    451 S Old Corry Field Rd Pensacola, FL 32507

    View on Map
    Picture of Warehouses at 451 S Old Corry Field Rd, Pensacola, FL
    For Lease
    $4,000 /Mo

    3,400 SF Warehouse for Lease

    Added:
    Mar 3, 2025
    Days on Market:
    417
    Last Refresh:
    Mar 16 at 9:05 am

    Property Features for 451 S Old Corry Field Rd

    General Information

    Standard status
    Active
    Property type
    Warehouses, Flex space, Other retail properties, Industrial properties, Retail properties & Spaces
    Elevators
    N/A
    Lease Type
    Modified Gross
    Rate Type
    Monthly

    Building Details

    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    Paul Salter

    Listing agent Paul License #FL BK3105171

    Listing office Salter Commercial, LLC

    Listing date Mar 3, 2025

    Overview

    Renovated Pensacola Warehouse For Lease

    This fully renovated 3,400-square-foot warehouse in Pensacola, Florida, is available for lease immediately. The property boasts spray foam insulation for superior energy efficiency and climate control, ensuring a comfortable and cost-effective workspace year-round. The space is move-in ready, having undergone a complete renovation. It's suitable for a variety of commercial, storage, or light industrial uses. Flexibility is key; the owner is willing to construct an office enclosure to meet tenant specifications. The property enjoys a prime industrial location with convenient access to major highways and is only 20 minutes from Pensacola International Airport. This exceptional warehouse presents a rare opportunity for businesses seeking a modern, efficient, and well-located space. The property is classified as a warehouse, flex space, and industrial property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Pharmacy

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

    Similar Places Nearby

    • Wright Self Storage Unit — 640 roberts ave, pensacola, fl 32511
    • Apex Self Storage — 50 Coast Rd, Pensacola, FL 32507
    • Wright Self Storage Unit Near Pensacola — 640 Roberts Ave, Pensacola, FL 32511, United States
    • Self Storage — 847 N Navy Blvd, Pensacola, FL 32507, United States
    • Extra Space Storage — 980 N Navy Blvd, Pensacola, FL 32507

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    County
    Escambia
    State
    Florida
    Longitude
    -87.274502
    Latitude
    30.403993

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    FAQs

    What type of property is this?
    Warehouse - 3,400 SF Warehouse for Lease
    Where is this warehouse located?
    The property is located at 451 S Old Corry Field Rd Pensacola, FL.
    What is the lease rate?
    The lease rate is $4,000 /Mo.
    (850) 916-5050
    We can help!
    Listing Contact
    Paul Salter
    Real Estate License ID: FL BK3105171
    Learn More
    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.

    More about this property
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