Pensacola Commercial Land Investment
For Sale
$860,000
9200 Bowman Avenue, Pensacola, FL 32534
1,761 SF PRIME ACREAGE IN THE HEART OF PENSACOLA’S FUTURE GROWTH CORRIDOR For Sale
Property Size1,761 SF
Lot Size4.30 Acres
Price / SF$488.36
Days on Market566
Property Features for 9200 Bowman Avenue
General Information
Standard status
Active
Property type
Warehouses, Other office properties, Other industrial properties, Industrial properties, Office Spaces
Size
1,761 SF
Elevators
N/A
Lot size
4.30 Acres
Building Details
Buildings
1
Stories
1
Listing Agency:
(850) 564-0120
Listed By:
Paul
(850) 564-0120
Added: Feb 12, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
This 4.3-acre commercial property is located in Pensacola, Florida. The site contains a 1,761 square foot building constructed in 1958, featuring three bedrooms, one and a half bathrooms, a garage, and a fallout shelter. Additional structures on the property include a barn. The property is zoned Heavy Commercial/Light Industrial, allowing for a variety of development possibilities. Natural gas is available, and sewer access is located approximately 300 feet away on Nine Mile Road. The property is located near Nine Mile Road, offering access to medical facilities, retail establishments, dining options, and grocery stores. Potential uses include a nursing home, assisted living facility, multi-family residential development, affordable housing project, or warehouse space. The property is currently vacant and ready for development.
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
$29,699
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
3.45%
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%
$593,980
$594.0K
Cap Rate 7%
$424,271
$424.3K
Cap Rate 9%
$329,989
$330.0K
Market Conditions
NOI Build-Up for 1,761 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
$44.2K $25.08/SF
− Vacancy
−$4.6K −$2.59/SF
EGI
$39.6K $22.49/SF
− OpEx
−$9.9K −$5.62/SF
NOI
$29.7K $16.87/SF
Area
Escambia County, FL
Vacancy
10.34%
Lease Rate
$25.08 /SF/Yr
Expense Ratio
25.00%
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%
$593,980
Cap Rate 7%
$424,271
Cap Rate 9%
$329,989
Alternative Uses
Best Use
Office B
$424.3K
$371.2K – $495.0K
NOI $29,699 @ 7.0% cap · market cap 3.45%
Second Best
Warehouse
$192.1K
$168.1K – $224.1K
NOI $13,448 @ 7.0% cap · market cap 1.56%
Theoretical Best
Office A
$516.8K
$452.2K – $603.0K
NOI $36,178 @ 7.0% cap · market cap 4.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
648
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32534, FL
16,006
Population
7,573
Households
2.1
Avg Household Size
39
Median Age
22%
College-Educated
92%
High-School Grad
9.9 sq mi
ZIP Area
1,617
Density / Sq Mi
$59,013
Median Household Income
$34,841
Median Earnings
$1,350
Median Rent
$192,500
Median Home Value
Market
Vacancy Rate% for Office 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?
Warehouse - 1,761 SF PRIME ACREAGE IN THE HEART OF PENSACOLA’S FUTURE GROWTH CORRIDOR For Sale
Where is this warehouse located?
The property is located at 9200 Bowman Avenue Pensacola, FL.
What is the asking price?
The asking price for this property is $860,000.
