Office Building with Lobby and Conference
For Sale
Contact for pricing
201 N PACE BLVD, Pensacola, FL 32505
Secure office building with a lobby, conference room, and multiple office and workstation spaces with ample on-site parking.
Property Size1,652 SF
Price / SF$302.06
Days on Market134
Property Features for 201 N PACE BLVD
General Information
Standard status
Active
Size
1,652 SF
Class
B
Property subtype
Retail, Office, Mixed Use
Zoning
C-1
Building Details
Year Built
1959
Year Renovated
1990
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Neal & Company
Listed By:
Megan Davis · License #SL3645665
(443) 910-1208
Source:
Crexi
Added: May 7
Changed: Sep 10
Last Checked: Sep 16 at 4:34PM
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 Neal & Company
Investment Insights
Based on property information with market context.
This secure office building offers a lobby/reception area plus a conference room. Interior space includes two offices, three workstations or storage areas, and men’s and women’s bathrooms. The property is set up with ample parking and features mature live oak trees on site.
201 N Pace Blvd in Pensacola places the building just outside the downtown area. The lot is surrounded by Escambia County School District property, and Pace Blvd provides approximately 18,100 daily traffic.
The layout supports a range of office and administrative uses, with dedicated office space alongside shared workstation and storage areas.
201 N Pace Blvd in Pensacola places the building just outside the downtown area. The lot is surrounded by Escambia County School District property, and Pace Blvd provides approximately 18,100 daily traffic.
The layout supports a range of office and administrative uses, with dedicated office space alongside shared workstation and storage areas.
Key Highlights
- Secure office building with lobby/reception and conference room
- Two offices plus three workstations or storage areas
- Men’s and women’s bathrooms
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
$27,861
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
5.58%
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%
$557,220
$557.2K
Cap Rate 7%
$398,014
$398.0K
Cap Rate 9%
$309,567
$309.6K
Market Conditions
NOI Build-Up for 1,652 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
$41.4K $25.08/SF
− Vacancy
−$4.3K −$2.59/SF
EGI
$37.1K $22.49/SF
− OpEx
−$9.3K −$5.62/SF
NOI
$27.9K $16.87/SF
Area
Escambia County, FL
Vacancy
10.34%
Lease Rate
$25.08 /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%
$557,220
Cap Rate 7%
$398,014
Cap Rate 9%
$309,567
Alternative Uses
Best Use
Office B
$398.0K
$348.3K – $464.4K
NOI $27,861 @ 7.0% cap · market cap 5.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$484.8K
$424.2K – $565.7K
NOI $33,939 @ 7.0% cap · market cap 6.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
753
Businesses Nearby
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Business Placement
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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Secure office building with a lobby, conference room, and multiple office and workstation spaces with ample on-site parking.
Where is this office building located?
The property is located at 201 N PACE BLVD Pensacola, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Secure office building with lobby/reception and conference room; Two offices plus three workstations or storage areas; Men’s and women’s bathrooms
