Pensacola Commercial Land For
For Sale
$600,000
1022 W 9 Mile Road, Pensacola, FL 32534
2,148 SF W 9 Mile Rd Commercial Property For Sale
Property Size3,719 SF
Lot Size0.68 Acres
Price / SF$161.33
Days on Market566
Property Features for 1022 W 9 Mile Road
General Information
Standard status
Active
Property type
Other retail properties, Individual retail properties, Other mixed-use properties, Retail properties & Spaces, Mixed-use properties
Size
3,719 SF
Net Rentable
2,148 SF
Elevators
N/A
Lot size
0.68 Acres
Building Details
Year Built
1968
Buildings
1
Stories
1
Listing Agency:
(850) 564-0120
Listed By:
Paul
(850) 564-0120
Added: Feb 11, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
Located at 1022 W 9 Mile Road in Pensacola, Florida, this commercial property offers an investment opportunity. The property includes approximately 0.72 acres of land with 120 feet of frontage on West Nine Mile Road. Its location provides convenient access to Pine Forest Road, Highway 29, and Interstate 10. A 2,148 square-foot building is situated on a 3,719 square-foot lot. The zoning is HC/LI. The surrounding area has experienced growth in both commercial and residential sectors.
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
$44,182
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
7.36%
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%
$883,640
$883.6K
Cap Rate 7%
$631,171
$631.2K
Cap Rate 9%
$490,911
$490.9K
Market Conditions
NOI Build-Up for 3,719 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
$80.3K $21.60/SF
− Vacancy
−$9.6K −$2.59/SF
EGI
$70.7K $19.01/SF
− OpEx
−$26.5K −$7.13/SF
NOI
$44.2K $11.88/SF
Area
Escambia County, FL
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$883,640
Cap Rate 7%
$631,171
Cap Rate 9%
$490,911
Alternative Uses
Best Use
Mixed Use
$631.2K
$552.3K – $736.4K
NOI $44,182 @ 7.0% cap · market cap 7.36%
Second Best
Retail
$600.5K
$525.4K – $700.6K
NOI $42,033 @ 7.0% cap · market cap 7.01%
Theoretical Best
Office A
$1.09M
$955.0K – $1.27M
NOI $76,403 @ 7.0% cap · market cap 12.73%
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
197k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 46%
Dining 39%
Shops & Services 12%
Apparel 3%
Lowe's
Home Improvements & Furnishings
35,859 visits/mo
0.2 miles
The Home Depot
Home Improvements & Furnishings
32,328 visits/mo
0.1 miles
Tractor Supply Co.
Home Improvements & Furnishings
22,732 visits/mo
0.5 miles
Dutch Bros. Coffee
Dining
22,366 visits/mo
0.2 miles
Raceway
Shops & Services
19,058 visits/mo
0.1 miles
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Other retail property - 2,148 SF W 9 Mile Rd Commercial Property For Sale
Where is this other retail property located?
The property is located at 1022 W 9 Mile Road Pensacola, FL.
What is the asking price?
The asking price for this property is $600,000.
