Boutique Commercial Building on
For Sale
$650,000
1113 N 9th Ave, Pensacola, FL 32501
Distinctive 2,000 SF commercial property in established business corridor.
Property Size2,452 SF
Lot Size0.32 Acres
Price / SF$325
Days on Market160
Property Features for 1113 N 9th Ave
General Information
Standard status
Active
Size
2,452 SF
Lot size
0.32 Acres
Property subtype
Retail
Building Details
Building Size
2,452 SF
Year Built
1986
Listed By:
Will Kurnia · License #FL #SL3518294
(850) 292-2840
Source:
Naiglobal
Added: Apr 1
Changed: Sep 5
Last Checked: Sep 6 at 7:12AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Will Kurnia
Investment Insights
Based on property information with market context.
This 2,000 SF standalone commercial building is a boutique-style property situated on three parcels totaling 0.319 acres. It offers a distinctive opportunity to acquire commercial property in an established and visible business corridor. The building combines charm, functionality, and strong corridor presence, making it well suited for an owner-user seeking a polished environment with character and convenience. The property features approximately 80 feet of frontage on 9th Avenue and possible secondary access from DeSoto Street. Interior improvements include updated lighting, flooring, built-ins, smooth-finish ceilings, upgraded trim work, and tasteful paint throughout. The building also includes 9-foot ceilings on the main floor and two restrooms, including one with a full shower. Additionally, there is a 452 SF conditioned storage building. The property is beautifully updated and exceptionally well maintained.
Key Highlights
- 2,000 SF standalone commercial building in a highly visible and established business corridor.
- Updated and exceptionally well‑maintained interior with high‑quality finishes.**
- Approximately 80 FT of frontage on 9th Avenue.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,604
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.48%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$452,080
$452.1K
Cap Rate 7%
$322,914
$322.9K
Cap Rate 9%
$251,156
$251.2K
Market Conditions
NOI Build-Up for 2,000 SF
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.
Gross rent
$36.0K $18.00/SF
− Vacancy
−$3.7K −$1.85/SF
EGI
$32.3K $16.15/SF
− OpEx
−$9.7K −$4.84/SF
NOI
$22.6K $11.30/SF
Area
Escambia County, FL
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$452,080
Cap Rate 7%
$322,914
Cap Rate 9%
$251,156
Alternative Uses
Best Use
Retail
$322.9K
$282.6K – $376.7K
NOI $22,604 @ 7.0% cap · market cap 3.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$587.0K
$513.6K – $684.8K
NOI $41,088 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,477
Businesses Nearby
199k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Shops & Services 26%
Groceries 21%
Publix
Groceries
41,985 visits/mo
0.2 miles
McDonald's
Dining
24,686 visits/mo
0.1 miles
Circle K
Shops & Services
21,532 visits/mo
0.2 miles
Whataburger
Dining
20,893 visits/mo
0.5 miles
Krispy Kreme Doughnuts
Dining
19,957 visits/mo
0.1 miles
Demographics for 32501, FL
10,960
Population
5,505
Households
2
Avg Household Size
41
Median Age
30%
College-Educated
86%
High-School Grad
3.7 sq mi
ZIP Area
2,962
Density / Sq Mi
$39,127
Median Household Income
$31,312
Median Earnings
$964
Median Rent
$277,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Distinctive 2,000 SF commercial property in established business corridor.
Where is this storefront property located?
The property is located at 1113 N 9th Ave Pensacola, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2,000 SF standalone commercial building in a highly visible and established business corridor.; Updated and exceptionally well‑maintained interior with high‑quality finishes.**; Approximately 80 FT of frontage on 9th Avenue.
