Purple Parrot Tiki Bar &
For Sale
$600,000
13555 Perdido Key Dr, Pensacola, FL 32507
Beach-bar experience near Gulf of Mexico with 4COP Liquor License.
Property Size1,548 SF
Days on Market144
Property Features for 13555 Perdido Key Dr
General Information
Standard status
Active
Size
1,548 SF
Class
C
Property subtype
Office
Building Details
Building Size
1,548 SF
Year Built
2000
Listing Agency:
SVN | Southland Commercial Real Estate
(850) 380-3344
Listed By:
Michael Carro, CCIM · License #FL #BK3179263
(850) 380-3344
Source:
Southlandcommercial
Added: Apr 1
Changed: Aug 21
Last Checked: Aug 22 at 5:14AM
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 SVN | Southland Commercial Real Estate
Investment Insights
Based on property information with market context.
Located on Perdido Key, the Purple Parrot Tiki Bar & Grill provides a beach-bar experience. This establishment offers a laid-back, island-inspired atmosphere. Included in the sale are all furniture, fixtures, and equipment, as well as the lease assignment, business name, marketing materials, and social media handles. The property includes a 4COP Liquor License.
Key Highlights
- Established Tiki Bar & Grill business on Perdido Key.
- Includes all furniture, fixtures, and equipment.
- 4COP Liquor License included.
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
$18,511
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
3.09%
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%
$370,220
$370.2K
Cap Rate 7%
$264,443
$264.4K
Cap Rate 9%
$205,678
$205.7K
Market Conditions
NOI Build-Up for 1,548 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
$26.9K $17.40/SF
− Vacancy
−$2.3K −$1.46/SF
EGI
$24.7K $15.94/SF
− OpEx
−$6.2K −$3.99/SF
NOI
$18.5K $11.96/SF
Area
Escambia County, FL
Vacancy
8.37%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
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%
$370,220
Cap Rate 7%
$264,443
Cap Rate 9%
$205,678
Alternative Uses
Best Use
Specialty Retail
$264.4K
$231.4K – $308.5K
NOI $18,511 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$454.3K
$397.5K – $530.0K
NOI $31,802 @ 7.0% cap · market cap 5.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
215
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32507, FL
31,215
Population
19,131
Households
1.6
Avg Household Size
44
Median Age
32%
College-Educated
91%
High-School Grad
27.9 sq mi
ZIP Area
1,119
Density / Sq Mi
$69,802
Median Household Income
$38,000
Median Earnings
$1,238
Median Rent
$267,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Purple Parrot Tiki Bar & 3 Palms Bistro — 13555 Perdido Key Dr #1, Pensacola, FL 32507
- DOG-ON-IT — 14175-, 14181 Perdido Key Dr, Pensacola, FL 32507
- Florham yatch club — 13351 Johnson Beach Rd, Pensacola, FL 32507
- Concerts on Canal — 14075 Canal Dr, Pensacola, FL 32507
- Perdido Key Sports Bar & Restaurant — 13583 Perdido Key Dr, Pensacola, FL 32507
Frequently Asked Questions
What type of property is this?
Bar & Pub - Beach-bar experience near Gulf of Mexico with 4COP Liquor License.
Where is this bar & pub located?
The property is located at 13555 Perdido Key Dr Pensacola, FL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Established Tiki Bar & Grill business on Perdido Key.; Includes all furniture, fixtures, and equipment.; 4COP Liquor License included.
