Pensacola Retail Center Investment
For Sale
$4,300,000
1911 W Garden Street, Pensacola, FL 32502
19,350 SF / 12 Unit Retail Shopping Center For Sale
Property Size19,350 SF
Lot Size0.44 Acres
Price / SF$222.22
Days on Market558
Property Features for 1911 W Garden Street
General Information
Standard status
Active
Property type
Shopping centers, Other retail properties, Individual retail properties, Retail properties & Spaces
Size
19,350 SF
Class
A
Total Parking Spaces
89
Elevators
N/A
Lot size
0.44 Acres
Building Details
Year Built
2018
Buildings
1
Stories
1
Units
12
Listing Agency:
(850) 564-0120
Listed By:
Paul
(850) 564-0120
Added: Feb 10, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
This 12-unit retail shopping center, encompassing 19,350 square feet, is located in Pensacola, Florida. Situated on a 0.44 acre lot, the property is one of three currently available for sale. The center offers 12 individual retail units, providing a diverse tenant mix potential. This property is ideal for investors seeking a strong foothold in the thriving Pensacola retail market.
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
$218,698
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
5.09%
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%
$4,373,960
$4.4M
Cap Rate 7%
$3,124,257
$3.1M
Cap Rate 9%
$2,429,978
$2.4M
Market Conditions
NOI Build-Up for 19,350 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
$348.3K $18.00/SF
− Vacancy
−$35.9K −$1.85/SF
EGI
$312.4K $16.15/SF
− OpEx
−$93.7K −$4.84/SF
NOI
$218.7K $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%
$4,373,960
Cap Rate 7%
$3,124,257
Cap Rate 9%
$2,429,978
Alternative Uses
Best Use
Retail
$3.12M
$2.73M – $3.64M
NOI $218,698 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.68M
$4.97M – $6.63M
NOI $397,528 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,702
Businesses Nearby
44k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 89%
Hotels & Casinos 6%
Dining 5%
Circle K
Shops & Services
21,532 visits/mo
0.4 miles
Shell
Shops & Services
9,975 visits/mo
0.0 miles
Dollar General
Shops & Services
6,901 visits/mo
0.5 miles
Days Inn Pensacola - Historic Downtown
Hotels & Casinos
2,776 visits/mo
0.1 miles
Papa John's Pizza
Dining
2,223 visits/mo
0.3 miles
Demographics for 32502, FL
4,277
Population
2,582
Households
1.7
Avg Household Size
46
Median Age
36%
College-Educated
92%
High-School Grad
2.7 sq mi
ZIP Area
1,584
Density / Sq Mi
$67,548
Median Household Income
$41,011
Median Earnings
$1,313
Median Rent
$229,000
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.
Similar Off Market Nearby
- One Palafox Place Llc — 3 W Garden St Suite 210, Pensacola, FL 32502
Frequently Asked Questions
What type of property is this?
Shopping center - 19,350 SF / 12 Unit Retail Shopping Center For Sale
Where is this shopping center located?
The property is located at 1911 W Garden Street Pensacola, FL.
What is the asking price?
The asking price for this property is $4,300,000.
