Two-Story Professional Office
For Sale
Contact for pricing
1940 Saint Mary Ave, Pensacola, FL 32501
Well-maintained two-story office with brick exterior, monument signage, and 16 on-site parking spaces.
Property Size3,312 SF
Lot Size0.52 Acres
Price / SF$211.05
Days on Market34
Property Features for 1940 Saint Mary Ave
General Information
Standard status
Active
Size
3,312 SF
Total Parking Spaces
16
Lot size
0.52 Acres
Property subtype
OFFICE
Building Details
Stories
2
Listing Agency:
NAI Pensacola
(850) 384-5818
Listed By:
Tina Tortomase MiCP · License ##SL3533745
(850) 384-5818
Source:
Moodyscre
Added: Jul 1
Changed: Jul 21
Last Checked: Jul 21 at 3:45AM
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 NAI Pensacola
Investment Insights
Based on property information with market context.
1940 St. Mary Avenue is a well-maintained, two-story professional office building with a functional layout currently configured as a law office. The first floor includes a reception area, dedicated copy/work room, four private offices, and three restrooms. The second floor offers a conference room, two private offices, a large open cubicle/workspace area, and one restroom, providing a mix of private, collaborative, and support spaces.
The brick exterior features dormer windows, a metal roof, and a columned front porch, set on landscaped grounds with mature oak trees. The property includes attractive monument signage and 16 on-site parking spaces.
Building and systems updates include a metal roof installed in 2018, two HVAC units (2016 and 2025), and a new mini-split system. A Generac generator is available and may be negotiable. The owner may also consider a lease to a well-qualified tenant, and the site appears to offer potential for future expansion, subject to applicable zoning, setback, parking, stormwater, engineering, permitting, and code requirements.
The brick exterior features dormer windows, a metal roof, and a columned front porch, set on landscaped grounds with mature oak trees. The property includes attractive monument signage and 16 on-site parking spaces.
Building and systems updates include a metal roof installed in 2018, two HVAC units (2016 and 2025), and a new mini-split system. A Generac generator is available and may be negotiable. The owner may also consider a lease to a well-qualified tenant, and the site appears to offer potential for future expansion, subject to applicable zoning, setback, parking, stormwater, engineering, permitting, and code requirements.
Key Highlights
- 2‑story professional office building with 3,312 SF in Pensacola, FL
- Brick exterior with dormers, metal roof, and columned front porch with landscaped, shaded grounds
- Current configuration includes first‑floor reception, copy/work room, four private offices, and three restrooms; second floor has conference room, two private offices, open cubicle/work area, and one restroom
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 | $83.1k | $25.08 |
| − Vacancy | −$8.6k | −$2.59 |
| EGI | $74.5k | $22.49 |
| − OpEx | −$18.6k | −$5.62 |
| NOI | $55.9k | $16.87 |
3,312 SF · lease $25.08/SF/yr · vacancy 10.34% · expense 25.00%
Alternative Uses
Best Use
Office B
$798.0K
$698.2K – $931.0K
NOI $55,857 @ 7.0% cap · market cap 7.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$972.0K
$850.5K – $1.13M
NOI $68,042 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
863
Businesses Nearby
Explore this area
Business Placement
Demographics for 32501, FL
10,960
Population
5,505
Households
2
Avg Household Size
41
Median Age
30%
College-Educated
86%
High-School Grad
3.7 sq mi
ZIP Area
2,962
Density / Sq Mi
$39,127
Median Household Income
$31,312
Median Earnings
$964
Median Rent
$277,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Well-maintained two-story office with brick exterior, monument signage, and 16 on-site parking spaces.
Where is this office building located?
The property is located at 1940 Saint Mary Ave Pensacola, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 2‑story professional office building with 3,312 SF in Pensacola, FL; Brick exterior with dormers, metal roof, and columned front porch with landscaped, shaded grounds; Current configuration includes first‑floor reception, copy/work room, four private offices, and three restrooms; second floor has conference room, two private offices, open cubicle/work area, and one restroom
