Commercial Land with Existing
1991 W Detroit Blvd, Pensacola, FL 32534
For Sale
$425,000
HDMU zoning and on-site structures provide a defined starting point for commercial land use.
Property Size2,216 SF
Days on Market48
Property Features for 1991 W Detroit Blvd
General Information
Standard status
Size
Property subtype
Building Details
Building Size
Year Built
Listing Agency:
Bellcore Commercial LLC
Listed By:
Melissa Simpson, CCIM · License FL BK3338591
(850) 503-3005
Source:
Bellcorecommercial
Added: Sep 26
Changed: Nov 4
Last Checked: Nov 12 at 6:08AM
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 LLC
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Investment Insights
Based on property information with market context.
This commercial land offering encompasses 8.68 acres and includes existing structures. The property is zoned HDMU, a stated land-use designation relevant to evaluating the site.
The parcel is near I-10 at 1991 W Detroit Blvd in Pensacola, Florida. The existing improvements and highway proximity are key physical and location details.
The parcel is near I-10 at 1991 W Detroit Blvd in Pensacola, Florida. The existing improvements and highway proximity are key physical and location details.
Key Highlights
- 8.68 acres of commercial land
- HDMU zoning
- Existing structures on site
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,941
Cap Rate
4.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$418,820
$418.8K
Cap Rate 7%
$299,157
$299.2K
Cap Rate 9%
$232,678
$232.7K
Market Conditions
NOI Build-Up for 2,216 SF
Gross rent
$33.2K $15.00/SF
− Vacancy
−$3.3K −$1.50/SF
EGI
$29.9K $13.50/SF
− OpEx
−$9.0K −$4.05/SF
NOI
$20.9K $9.45/SF
Area
Escambia County, FL
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$418,820
Cap Rate 7%
$299,157
Cap Rate 9%
$232,678
Alternative Uses
Best Use
Self Storage
$299.2K
$261.8K – $349.0K
NOI $20,941 @ 7.0% cap · market cap 4.93%
Second Best
Warehouse
$241.7K
$211.5K – $282.0K
NOI $16,922 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$650.4K
$569.1K – $758.8K
NOI $45,526 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
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Business Placement
Demographics for 32534, FL
16,006
Population
7,573
Households
2.1
Avg Household Size
39
Median Age
22%
College-Educated
92%
High-School Grad
9.9 sq mi
ZIP Area
1,617
Density / Sq Mi
$59,013
Median Household Income
$34,841
Median Earnings
$1,350
Median Rent
$192,500
Median Home Value
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Market
Properties on Market for Commercial land in Pensacola
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Commercial land - HDMU zoning and on-site structures provide a defined starting point for commercial land use.
Where is this commercial land located?
The property is located at 1991 W Detroit Blvd Pensacola, FL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 8.68 acres of commercial land; HDMU zoning; Existing structures on site
