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    21 N New Warrington Rd Pensacola, FL 32506

    View on Map
    Picture of Other office properties at 21 N New Warrington Rd, Pensacola, FL
    For Lease
    $15 SF/Yr

    10,825 - 21,928 SF Office For Sale/Lease - Pensacola Class A Office (Floor 1 and 2, Suite 100)

    Added:
    Mar 14, 2025
    Days on Market:
    407
    Last Refresh:
    Mar 16 at 9:05 am

    Property Features for 21 N New Warrington Rd

    General Information

    Standard status
    Active
    Property type
    Other office properties, Office buildings, Office Units, Office properties & Spaces
    Class
    C
    Total Parking Spaces
    104
    Elevators
    N/A
    Lease Type
    NNN
    Lease Term
    3-4 Years
    Rate Type
    Yearly

    Building Details

    Buildings
    1
    Stories
    2

    We can help!

    Listing Contact
    Paul Salter

    Listing agent Paul License #FL BK3105171

    Listing office Salter Commercial, LLC

    Listing date Mar 14, 2025

    Overview

    Pensacola Class A Office Space

    This Class A office space in Pensacola, located on the first and second floors, offers between 10,825 and 21,928 square feet for sale or lease. The building underwent a complete renovation in 2020/2021. Both floors feature 13'6" ceiling heights, exposed rafters, polished concrete floors, an exposed duct system, and glass doors and walls to maximize natural light. The first floor includes 5 individual offices, 3 conference rooms, 3 workspaces/collaboration rooms, 6 restrooms, and a large covered outdoor break area. The second floor houses 11 individual offices, 1 conference room, 3 workspaces/collaboration rooms, 3 restrooms with showers, an elevator, and a large break room and lounge/game area. The building benefits from solar panels, reducing power usage and expenses. The parking lot provides approximately 104 parking spaces. It is located just north of Pensacola Naval Air Station and 4 miles, or a 10-minute drive, from downtown Pensacola.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    NW Florida Energy ... Electrical Service MERAKI ENERGY CONSULTANT Production Facility Meraki Solutions - Jason ... Electrical Service Meraki Solar Solar Energy System Service

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    County
    Escambia
    State
    Florida
    Longitude
    -87.218892
    Latitude
    30.412861

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    FAQs

    What type of property is this?
    Office property - 10,825 - 21,928 SF Office For Sale/Lease - Pensacola Class A Office (Floor 1 and 2, Suite 100)
    Where is this office property located?
    The property is located at 21 N New Warrington Rd Pensacola, FL.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    (850) 501-6868
    We can help!
    Listing Contact
    Paul Salter
    Real Estate License ID: FL BK3105171
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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