Warehouse and Distribution
For Sale
Contact for pricing
2110 W Cervantes St, Pensacola, FL 32505
Well-maintained 16,176 SF warehouse with C-3 zoning and exposure at the Pace Blvd and Cervantes Street intersection.
Property Size16,176 SF
Price / SF$92.73
Days on Market145
Property Features for 2110 W Cervantes St
General Information
Standard status
Active
Size
16,176 SF
Property subtype
Industrial, Office
Building Details
Year Built
1985
Listing Agency:
Stirling Properties, LLC
Listed By:
Justin Beck, CCIM, CPM · License #FL 3118299
Source:
Crexi
Added: Apr 14
Changed: Jul 21
Last Checked: Sep 4 at 11:44AM
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 Stirling Properties, LLC
Investment Insights
Based on property information with market context.
This well-maintained warehouse and distribution building totals 16,176 SF and consists of one building. The property was renovated in 1990 and is positioned to serve industrial and warehouse users seeking a durable facility.
Situated in Pensacola, the property benefits from visibility at the busy intersection of Pace Blvd and Cervantes Street. It is also described as having C-3 zoning, supporting a range of industrial-focused business endeavors.
As a single-building warehouse offering with C-3 zoning and strong intersection visibility, the site presents a practical option for buyers evaluating industrial and distribution space.
Situated in Pensacola, the property benefits from visibility at the busy intersection of Pace Blvd and Cervantes Street. It is also described as having C-3 zoning, supporting a range of industrial-focused business endeavors.
As a single-building warehouse offering with C-3 zoning and strong intersection visibility, the site presents a practical option for buyers evaluating industrial and distribution space.
Key Highlights
- 16,176 SF warehouse building
- Year built 1985; renovated in 1990
- One building; C‑3 zoning
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
$123,525
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
8.24%
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%
$2,470,500
$2.5M
Cap Rate 7%
$1,764,643
$1.8M
Cap Rate 9%
$1,372,500
$1.4M
Market Conditions
NOI Build-Up for 16,176 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
$161.1K $9.96/SF
− Vacancy
−$15.8K −$0.98/SF
EGI
$145.3K $8.98/SF
− OpEx
−$21.8K −$1.35/SF
NOI
$123.5K $7.64/SF
Area
Escambia County, FL
Vacancy
9.80%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
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%
$2,470,500
Cap Rate 7%
$1,764,643
Cap Rate 9%
$1,372,500
Alternative Uses
Best Use
Warehouse
$1.76M
$1.54M – $2.06M
NOI $123,525 @ 7.0% cap · market cap 8.24%
Second Best
Industrial
$1.30M
$1.14M – $1.52M
NOI $91,208 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$4.75M
$4.15M – $5.54M
NOI $332,321 @ 7.0% cap · market cap 22.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
707
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- A+ Mini-Storage of Downtown Pensacola — 2285 W Navy Blvd #8012, Pensacola, FL 32505
- Gray Line Storage — 1300 N T St, Pensacola, FL 32505
- Pensacola Self Storage — 1716 N Pace Blvd, Pensacola, FL 32505
Frequently Asked Questions
What type of property is this?
Warehouse - Well-maintained 16,176 SF warehouse with C-3 zoning and exposure at the Pace Blvd and Cervantes Street intersection.
Where is this warehouse located?
The property is located at 2110 W Cervantes St Pensacola, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 16,176 SF warehouse building; Year built 1985; renovated in 1990; One building; C‑3 zoning
