Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    715 S Palafox St Pensacola, FL 32502

    View on Map
    Sponsored
    Source: https://www.saltercompany.com
    For Lease
    $25 SF/Yr ($11,945 /Mo)

    Prime waterfront office, parking included.

    Lot size:
    5,734 SF

    Property Features for 715 S Palafox St

    General Information

    Property type
    Coworking space
    Lease Type
    NNN
    RSF (Rentable sq. ft)
    5,734 SF
    USF (Usable sq. ft)
    5,734 SF
    Class
    B
    Total Parking Spaces
    32
    Elevators
    N/A
    Total Rate
    11945.83
    Lease Term
    5+ Years

    Amenities

    Building Details

    Year Built/Renovated
    1945/1980
    Buildings
    1
    Stories
    2

    Overview

    Waterfront Office Space with Parking

    This 5,734 square foot office space is located at 715 S Palafox St in downtown Pensacola, Florida. The two-story building is in excellent condition and ready for immediate occupancy. Previously used as law offices, the space includes a dedicated conference area. A key feature is the deck overlooking Palafox Marina. Up to 32 parking spaces are available, including a combination of reserved spaces (up to 12) and open spaces (up to 20) in a landlord-owned lot directly across the street, at no cost to the tenant. Additional parking is available on the street. The exact number of parking spaces and their allocation will be detailed and negotiated within the lease agreement. Furthermore, the use of one-half of a dock may be considered, contingent upon acceptable releases and lease terms. Subleasing is permitted with owner approval. The lease is a NNN lease with a minimum term of 5 years, and the annual rate is $25 per square foot.

    We can help!

    Listing Contact
    Paul Salter

    Learn more

    Property Insight Report

    HighLights

    • 5,734 sq ft of executive suites and coworking space in downtown Pensacola.
    • Waterfront location on Palafox Street with a deck overlooking Palafox Marina.
    • Includes up to 32 parking spaces, with reserved options available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Coworking space

    Suggested Use

    Restaurant Dental Office Spa & Massage Center Hair Salon Real Estate Agency Nail Salon Building Supply Auto Repair Shop Pharmacy Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    State
    Florida
    Longitude
    -87.276945
    Latitude
    30.540265

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      FL, Pensacola – 545 Brent Lane

      Discover many ways to work your way in OH, Euclid - Euclid Ave
      545 Brent Ln Pensadola, Pensacola, FL 32503
      View Details
    • $26 SF/Yr

      7700 West Fairfield Dr, Unit pensacola

      Fully Built-Out Turnkey Restaurant Space Available for Lease
      7700 West Fairfield Dr, Pensacola, FL 32506
      View Details
    • New
      $240 SF/Yr

      2525 N Palafox St, Pensacola, FL

      Commercial real estate
      2525 N Palafox St, Pensacola, FL 32501
      View Details
    • $1.75 SF/Yr

      8625 Gulf Beach Hwy

      Industrial properties
      8625 Gulf Beach Hwy, Pensacola, FL 32507
      View Details
    • $15 SF/Yr

      3507 N Pace Blvd, Pensacola, FL

      Commercial real estate
      3507 N Pace Blvd, Pensacola, FL 32505
      View Details
    • $1.75 SF/Yr

      8625 Gulf Beach Hwy

      Industrial properties
      8625 Gulf Beach Hwy, Pensacola, FL 32507
      View Details
    • $20 SF/Yr

      314 S Navy Blvd, Pensacola, FL

      Commercial real estate
      314 S Navy Blvd, Pensacola, FL 32507
      View Details
    • $13 SF/Yr

      Professionally Managed Retail Shopping Center

      Neighborhood shopping center with long-term tenants and convenient access.
      3960 W Navy Blvd, Pensacola, FL 32507
      View Details
    • $18 SF/Yr

      Upscale Shopping Center in Pensacola

      Premier retail location with high visibility and strong co-tenants.
      1690 Airport Blvd, Pensacola, FL 32504
      View Details
    • $3,500 /Mo

      Functional Warehouse Space For Lease

      4,500 SF warehouse with office space near Highway 29.
      8670 Fowler Ave, Pensacola, FL 32534
      View Details
    • $3,500 /Mo

      Functional Warehouse Space For Lease

      4,500 SF warehouse with office space near Highway 29.
      8670 Fowler Ave, Pensacola, FL 32534
      View Details
    • $19 SF/Yr

      Pensacola Office Space For Lease

      Professionally maintained office space in a growing commercial corridor.
      1421 East Nine Mile Rd, Pensacola, FL 32514
      View Details

    FAQs

    What type of property is this?
    Coworking space - Prime waterfront office, parking included.
    Where is this coworking space located?
    The property is located at 715 S Palafox St Pensacola, FL.
    What is the lease rate?
    The lease rate is $25 SF/Yr.
    What are key features of this property?
    This property features:
    (850) 712-4742
    Request Owner's contact information
    715 S Palafox St Pensacola, FL 32502
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    715 S Palafox St
    Pensacola, FL 32502
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    715 S Palafox St Pensacola, FL 32502
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Paul Salter
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!