Versatile Property Near I-10
For Sale
Contact for pricing
1860 Atwood Dr, Pensacola, FL
One-acre property with office/flex building and storage, ideal for development.
Property Size832 SF
Lot Size1.01 Acres
Price / SF$323.32
Days on Market333
Property Features for 1860 Atwood Dr
General Information
Standard status
Active
Size
832 SF
Lot size
1.01 Acres
Property subtype
LAND
Listing Agency:
Alliance Real Estate
(850) 259-5523
Listed By:
David Wu · License #FLORIDACQ1055862
(850) 232-8888
Source:
Moodyscre
Added: Oct 1, 2025
Changed: Aug 12
Last Checked: Aug 28 at 1:04PM
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 Alliance Real Estate
Investment Insights
Based on property information with market context.
Located on a quiet cul-de-sac seconds from the I-10 Davis Highway interchange, 1860 Atwood Drive presents a one-acre opportunity suitable for residential development, rental investment, or business expansion. The site features an 832-square-foot office/flex building with three rooms, a kitchen, and a bath, making it suitable as an office, rental unit, or project headquarters. Additionally, a two-bay storage building provides space for equipment, vehicles, or future conversion. Recent upgrades include a new roof. The land includes well-developed oak trees and a large laydown yard ready for parking, storage, or redevelopment. With Escambia County Commercial Zoning (Sec. 3-2.10) in place, the property offers flexibility of use and long-term value-add potential, positioning it for growth and success whether for a residential buildout, income-producing rental, or a business home base.
Key Highlights
- 1‑acre property on a quiet cul‑de‑sac with commercial zoning offering flexibility for residential, rental, or business use.
- Prime location with easy access to I‑10 Davis Highway interchange, balancing privacy and accessibility.
- Includes an 832 SF office/flex building with three rooms, kitchen, and bath, suitable for various purposes.
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
$9,426
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
3.50%
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%
$188,520
$188.5K
Cap Rate 7%
$134,657
$134.7K
Cap Rate 9%
$104,733
$104.7K
Market Conditions
NOI Build-Up for 832 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
$16.2K $19.44/SF
− Vacancy
−$1.7K −$2.01/SF
EGI
$14.5K $17.43/SF
− OpEx
−$5.1K −$6.10/SF
NOI
$9.4K $11.33/SF
Area
Escambia County, FL
Vacancy
10.34%
Lease Rate
$19.44 /SF/Yr
Expense Ratio
35.00%
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%
$188,520
Cap Rate 7%
$134,657
Cap Rate 9%
$104,733
Alternative Uses
Best Use
Flex RnD
$134.7K
$117.8K – $157.1K
NOI $9,426 @ 7.0% cap · market cap 3.50%
Second Best
Industrial
$67.0K
$58.6K – $78.2K
NOI $4,691 @ 7.0% cap · market cap 1.74%
Theoretical Best
Office A
$244.2K
$213.7K – $284.9K
NOI $17,093 @ 7.0% cap · market cap 6.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
659
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Olive Catering — 1836 E Olive Rd, Pensacola, FL 32514
Frequently Asked Questions
What type of property is this?
Flex space - One-acre property with office/flex building and storage, ideal for development.
Where is this flex space located?
The property is located at 1860 Atwood Dr Pensacola, FL.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: 1‑acre property on a quiet cul‑de‑sac with commercial zoning offering flexibility for residential, rental, or business use.; Prime location with easy access to I‑10 Davis Highway interchange, balancing privacy and accessibility.; Includes an 832 SF office/flex building with three rooms, kitchen, and bath, suitable for various purposes.
