Pensacola Restaurant Site For
For Sale
$2,200,000
9310 Baldridge Dr, Pensacola, FL 32514
6,364 SF Former Restaurant/Sports Bar For Sale
Property Size6,364 SF
Lot Size2.53 Acres
Price / SF$345.69
Days on Market558
Property Features for 9310 Baldridge Dr
General Information
Standard status
Active
Property type
Restaurants, Other retail properties, Individual retail properties, Retail properties & Spaces
Size
6,364 SF
Net Rentable
6,364 SF
Total Parking Spaces
100
Elevators
N/A
Lot size
2.53 Acres
Building Details
Year Built
1999
Year Renovated
2018
Buildings
1
Stories
1
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 6,364 square-foot former restaurant and sports bar is available for sale in Pensacola, Florida. Located on East Nine Mile Road, the property is situated across from Kohl's and adjacent to Target and Publix. The area is densely populated with major retailers including Starbucks, Sonic, Subway, Chick-fil-A, and Panda Express. The building features a main dining area, a private VIP dining/bar room, and a bar equipped with multiple taps and a keg cooler. The kitchen and prep areas are generously sized. A wrap-around porch overlooks a private pond. Ample parking is available with over 100 spaces. The property is near the University of West Florida and two major hospitals. The sale does not include fixtures, furniture, and equipment. The 2.81-acre lot provides potential for expansion or redevelopment. This property offers an opportunity to acquire a well-situated, established restaurant property in a thriving commercial area and offers significant upside potential for a new owner.
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
$76,099
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
3.46%
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%
$1,521,980
$1.5M
Cap Rate 7%
$1,087,129
$1.1M
Cap Rate 9%
$845,544
$845.5K
Market Conditions
NOI Build-Up for 6,364 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
$110.7K $17.40/SF
− Vacancy
−$9.3K −$1.46/SF
EGI
$101.5K $15.94/SF
− OpEx
−$25.4K −$3.99/SF
NOI
$76.1K $11.96/SF
Area
Escambia County, FL
Vacancy
8.37%
Lease Rate
$17.40 /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%
$1,521,980
Cap Rate 7%
$1,087,129
Cap Rate 9%
$845,544
Alternative Uses
Best Use
Specialty Retail
$1.09M
$951.2K – $1.27M
NOI $76,099 @ 7.0% cap · market cap 3.46%
Second Best
Retail
$1.03M
$899.1K – $1.20M
NOI $71,927 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$1.87M
$1.63M – $2.18M
NOI $130,742 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
672
Businesses Nearby
446k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Superstores 19%
Shops & Services 12%
Groceries 11%
Target
Superstores
85,858 visits/mo
0.3 miles
Publix
Groceries
51,156 visits/mo
0.2 miles
Kohl's
Apparel
47,572 visits/mo
0.4 miles
Chick-fil-A
Dining
46,091 visits/mo
0.2 miles
Foosackly's
Dining
29,194 visits/mo
0.4 miles
Demographics for 32514, FL
40,844
Population
19,117
Households
2.1
Avg Household Size
39
Median Age
33%
College-Educated
91%
High-School Grad
19.8 sq mi
ZIP Area
2,063
Density / Sq Mi
$66,484
Median Household Income
$36,178
Median Earnings
$1,358
Median Rent
$241,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Restaurant - 6,364 SF Former Restaurant/Sports Bar For Sale
Where is this restaurant located?
The property is located at 9310 Baldridge Dr Pensacola, FL.
What is the asking price?
The asking price for this property is $2,200,000.
