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    1851 St. Mary Avenue Pensacola, FL 32501

    View on Map
    Sponsored
    Source: https://www.saltercompany.com
    For Lease
    $4,165 /Mo ($17 SF/Yr)

    Mid-city office space, 2,940 sq ft, flexible lease terms.

    Lot size:
    2,940 SF

    Property Features for 1851 St. Mary Avenue

    General Information

    Property type
    Coworking space
    Lease Type
    NNN
    RSF (Rentable sq. ft)
    2,940 SF
    USF (Usable sq. ft)
    2,940 SF
    Class
    C
    Total Parking Spaces
    46
    Elevators
    N/A
    Total Rate
    4165
    Lease Term
    3-4 Years

    Amenities

    Building Details

    Year Built/Renovated
    2003/2014
    Buildings
    1
    Stories
    1

    Overview

    Executive Suites/Coworking Space in Pensacola

    Located in Pensacola, Florida, this 2,940-square-foot executive suite and coworking space is available for lease. Situated on the first floor of a well-maintained professional building in the mid-city area, the suite, designated as Suite 1, includes eight private offices, two large rooms suitable for conferences or training, a reception area, and two restrooms. The space features LVP flooring, ample storage closets, and abundant natural light from numerous windows. The building is a 7,140-square-foot structure with a stucco façade and a red-tiled roof. A covered walkway provides shelter for visitors and employees. The property is enhanced by mature landscaping, including oak trees. Parking is plentiful, with over 50 spaces in a well-maintained lot featuring marked bumpers and easy access via two entryways from St. Mary Avenue's deceleration lane. A fenced rear yard offers secure storage. The building's open layout allows for adaptable configurations to accommodate various business needs, from cubicle workstations to large conference rooms. The lease is a NNN lease with a term of 3-4 years and a monthly rate of $4,165. This location offers convenient access to the entire city.

    We can help!

    Listing Contact
    Paul Salter

    Learn more

    HighLights

    • 2,940 sq ft of executive suites/coworking space available for lease in Pensacola, FL.
    • Located in a mid‑city professional building with ample parking (50+ spaces) and easy access.
    • Features eight offices, two large conference rooms, reception area, and two restrooms.
    Location Intelligence

    Current Use by Public Records

    Coworking space

    Map

    City
    Pensacola
    State
    Florida
    Longitude
    -87.221847
    Latitude
    30.454223

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    FAQs

    What type of property is this?
    Coworking space - Mid-city office space, 2,940 sq ft, flexible lease terms.
    Where is this coworking space located?
    The property is located at 1851 St. Mary Avenue Pensacola, FL.
    What is the lease rate?
    The lease rate is $17 SF/Yr.
    What are key features of this property?
    This property features:
    (850) 433-0577
    Request Owner's contact information
    1851 St. Mary Avenue Pensacola, FL 32501
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    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
    1851 St. Mary Avenue Pensacola, FL 32501
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    Listing Contact
    Paul Salter
    (850) 433-0577
    Learn more
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