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    238 W Michigan Ave Pensacola, FL 32505

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    For Sale
    $775,000

    Fully leased, 4-unit commercial property with 7% cap rate.

    Property size:
    7,380 SF
    Lot size:
    0.41 Acres

    Property Features for 238 W Michigan Ave

    General Information

    Size
    7,380 SF
    Lot size
    0.41 Acres

    Source: Straight Forward Realty Agent Robert T Kimball

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Renovated Warehouse & Office Property

    This fully leased, income-producing commercial property features 4 units totaling 7,380 square feet. The property offers a 7% cap rate, supported by stable, long-term tenants. Each unit has been fully renovated, with modern upgrades that include a climate control system throughout. One of the units includes a commercial-grade kitchen, suitable for food production, catering, or commissary use. The flexible layout accommodates a mix of industrial, office, and specialty users, making it a versatile asset. The property is fully climate-controlled for year-round operational efficiency. It features a strong tenant mix with stable occupancy.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Marry Me Wedding ... Event Planner Dolphin Pumps Manufacturer

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Similar Places Nearby

    Extra Space Storage

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    County
    Escambia
    State
    Florida
    Longitude
    -87.2481487
    Latitude
    30.4674826

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    FAQs

    What type of property is this?
    Warehouse - Fully leased, 4-unit commercial property with 7% cap rate.
    Where is this warehouse located?
    The property is located at 238 W Michigan Ave Pensacola, FL.
    What is the asking price?
    The asking price for this property is $775,000.
    What are key features of this property?
    This property features: - Fully Leased 4-Unit Property: Provides immediate rental income.; - 7% Capitalization Rate: Represents a strong return on investment.; - Fully Renovated Units: Minimizes near-term capital expenditure.
    (850) 602-2027
    Request Owner's contact information
    238 W Michigan Ave Pensacola, FL 32505
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    Pensacola, FL 32505
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    Realmo Value Estimation

    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.

    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.

    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
    238 W Michigan Ave Pensacola, FL 32505
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