Freestanding Retail Corner
For Sale
$299,000
2000 North Pace Boulevard, Pensacola, FL 32505
Freestanding retail building on a corner parcel with approximately 150 feet of frontage along N Pace Boulevard.
Property Size824 SF
Lot Size0.46 Acres
Price / SF$362.86
Days on Market160
Property Features for 2000 North Pace Boulevard
General Information
Standard status
Active
Size
824 SF
Lot size
0.46 Acres
Property subtype
Retail
Zoning
Heavy Commercial / Light Industrial
Building Details
Building Size
824 SF
Year Built
1976
Listing Agency:
Bellcore Commercial
Listed By:
Robert Bell · License #FL #SL698346
(850) 232-2587
Source:
Bellcorecommercial
Added: Apr 1
Changed: Aug 26
Last Checked: Aug 14 at 8:01AM
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 Bellcore Commercial
Investment Insights
Based on property information with market context.
2000 North Pace Boulevard presents an opportunity to acquire a freestanding retail building on a corner parcel of approximately 0.456 acres. The property includes an approximately 824-square-foot building constructed in 1976. The site is zoned Heavy Commercial / Light Industrial, which allows for a variety of retail, service, commercial, and vehicle-related uses.
The corner configuration provides approximately 150 feet of frontage along N Pace Boulevard, offering visibility and convenient access from the main thoroughfare. The property’s location within a centrally located Pensacola corridor supports both owner-user use and investment interest.
For buyers evaluating redevelopment or repositioning, the combination of a freestanding structure and corner street exposure can support a range of small-footprint retail and service concepts consistent with the site’s zoning allowance.
The corner configuration provides approximately 150 feet of frontage along N Pace Boulevard, offering visibility and convenient access from the main thoroughfare. The property’s location within a centrally located Pensacola corridor supports both owner-user use and investment interest.
For buyers evaluating redevelopment or repositioning, the combination of a freestanding structure and corner street exposure can support a range of small-footprint retail and service concepts consistent with the site’s zoning allowance.
Key Highlights
- Freestanding retail building on a 0.456‑acre corner parcel at N Pace Boulevard and W Hernandez Street in Pensacola, FL
- Approximately 824 SF building built in 1976
- Corner lot with approximately 150 feet of frontage along N Pace Boulevard, with convenient access
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
$9,313
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
3.11%
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%
$186,260
$186.3K
Cap Rate 7%
$133,043
$133.0K
Cap Rate 9%
$103,478
$103.5K
Market Conditions
NOI Build-Up for 824 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
$14.8K $18.00/SF
− Vacancy
−$1.5K −$1.85/SF
EGI
$13.3K $16.15/SF
− OpEx
−$4.0K −$4.84/SF
NOI
$9.3K $11.30/SF
Area
Escambia County, FL
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$186,260
Cap Rate 7%
$133,043
Cap Rate 9%
$103,478
Alternative Uses
Best Use
Retail
$133.0K
$116.4K – $155.2K
NOI $9,313 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$241.8K
$211.6K – $282.1K
NOI $16,928 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,212
Businesses Nearby
9k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Family Dollar
Shops & Services
4,623 visits/mo
0.2 miles
O'Reilly Auto Parts
Shops & Services
4,005 visits/mo
0.4 miles
Liberty Tax
Shops & Services
264 visits/mo
0.3 miles
Demographics for 32505, FL
28,671
Population
12,278
Households
2.3
Avg Household Size
36
Median Age
14%
College-Educated
82%
High-School Grad
13.0 sq mi
ZIP Area
2,205
Density / Sq Mi
$41,039
Median Household Income
$27,950
Median Earnings
$1,053
Median Rent
$120,300
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
- A Touch of Class Flowers and Gifts — 2727 N E St, Pensacola, FL 32501
Frequently Asked Questions
What type of property is this?
Storefront property - Freestanding retail building on a corner parcel with approximately 150 feet of frontage along N Pace Boulevard.
Where is this storefront property located?
The property is located at 2000 North Pace Boulevard Pensacola, FL.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Freestanding retail building on a 0.456‑acre corner parcel at N Pace Boulevard and W Hernandez Street in Pensacola, FL; Approximately 824 SF building built in 1976; Corner lot with approximately 150 feet of frontage along N Pace Boulevard, with convenient access
