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    Pensacola Office and Retail Buildings Title is generated by Realmo AI

    655 W Garden St, Pensacola, FL

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    Office and retail buildings with flexible layouts in Pensacola, FL.

    Type:OFFICE
    Property size:
    8,246 SF
    Lot size:
    0.40 Acres
    Price / SF:
    $303/SF
    Added:
    Mar 27, 2024
    Days on Market:
    804
    Last Refresh:
    May 19 at 8:36 pm

    Property Features for 655 W Garden St

    General Information

    Standard status
    Active
    Size
    8,246 SF
    Lot size
    0.40 Acres
    Property subtype
    OFFICE

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    Listing Contact
    G. Jeff White

    Listing agent G. Jeff White

    Listing office Connell & Company Realty

    Listing date Mar 27, 2024

    Source Moodyscre

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

    All listing content including descriptions, pricing, images are the copyrighted material of Connell & Company Realty

    HighLights

    • Multiple Buildings: Includes three separate buildings offering diverse usage possibilities.
    • Substantial Square Footage: Over 8,246 SF of rentable area across all buildings.
    • Modern Addition: Building 635 features a 2015 addition with four classrooms and two restrooms.
    • Multiple Offices and Conference Rooms: Buildings 655 and 635 offer numerous private offices, open work areas, and a large conference room.
    • High Ceilings: Buildings 655 and 635 feature 9' ceilings.
    • Ample Restrooms: A total of 8 restrooms are available across all buildings.

    Overview

    The property features three buildings. The first building, located at 655 W Garden St, is a 1½ story office building with approximately 2,728 square feet. It features a good interior finish with 9-foot ceilings, four or five offices, a large conference room, a reception area, a separate staff office adjoining the reception area, and an upper loft area finished with built-in desks and bookshelves currently used for supplies and file storage. There are three restrooms, and one office has a private restroom. The second building, located at 635 W Garden St, is a 2-story office building with approximately 4,488 square feet of rentable area, including a one-story addition built in 2015 containing approximately 1,632 square feet. It has a good interior finish with 9-foot ceilings. The first floor is divided into three offices (one with a private restroom), a large open work/reception area, a kitchen/break room, and three restrooms. The upstairs area is divided into three large offices and an open work area. The 2015 addition to 635 is designed with four 16’ x 20’ classrooms and two restrooms. The third building, located at 675 W Garden St, is a 1-story concrete block building containing approximately 1,030 square feet of rentable area. This building is basically open retail/store space, one large storage room (formerly a kitchen) with a glass storefront, and two restrooms. The total property size is 8,246 square feet.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $206.8k $25.08
    − Vacancy −$21.4k −$2.59
    EGI $185.4k $22.49
    − OpEx −$46.4k −$5.62
    NOI $139.1k $16.87
    8,246 SF · lease $25.08/SF/yr · vacancy 10.34% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $1.99M
    $1.74M – $2.32M (±1% cap)
    NOI $139,069 @ 7.0% cap · market cap 5.56%
    Second Best
    Retail
    $1.33M
    $1.16M – $1.55M (±1% cap)
    NOI $93,198 @ 7.0% cap · market cap 3.73%
    Theoretical Best
    Office A
    $2.42M
    $2.12M – $2.82M (±1% cap)
    NOI $169,406 @ 7.0% cap · market cap 6.78%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Dental Office Law Firm Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    County
    Escambia
    State
    Florida
    Longitude
    -87.2242
    Latitude
    30.411

    FAQs

    What type of property is this?
    Office building - Office and retail buildings with flexible layouts in Pensacola, FL.
    Where is this office building located?
    The property is located at 655 W Garden St Pensacola, FL.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: Multiple Buildings: Includes three separate buildings offering diverse usage possibilities.; Substantial Square Footage: Over 8,246 SF of rentable area across all buildings.; Modern Addition: Building 635 features a 2015 addition with four classrooms and two restrooms.
    (850) 712-6003 Call to check price and availability
    More about this property
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