Multi-Use Automotive and Office
For Sale
Contact for pricing
2171-2177 E Olive Rd, Pensacola, FL 32514
Three commercial parcels with frontage on E Olive Road, including an office building, mechanic shop, and a residential unit.
Property Size3,594 SF
Lot Size1.20 Acres
Price / SF$222.31
Days on Market75
Property Features for 2171-2177 E Olive Rd
General Information
Standard status
Active
Size
3,594 SF
Lot size
1.20 Acres
Property subtype
RETAIL
Zoning
Commercial
Site & Location
Traffic Count
19,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Clear Height
14 ft
Listing Agency:
Bay City Realty LLC
(850) 764-6800
Listed By:
Mehdi Moeini, CCIM, CPM, MiCP · License #FLORIDABK3464565
(850) 380-0877
Source:
Moodyscre
Added: Jul 1
Changed: Sep 10
Last Checked: Sep 12 at 6:41AM
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 Bay City Realty LLC
Investment Insights
Based on property information with market context.
2171-2177 E Olive Rd consists of approximately 1.2 acres across three commercial parcels with approximately 216 feet of frontage along an east-west corridor. The site includes three existing improvements: a 1,234± SF office building, a 936± SF mechanic shop with approximately 14-foot ceilings, and a 3-bedroom, 1-bath residence that may be used as rental income, employee housing, or additional office space subject to applicable regulations.
The property is located in unincorporated Escambia County and is zoned Commercial. It sits along E Olive Road just east of N Davis Highway, where Olive Road carries approximately 19,000 vehicles per day at the property. The roadway also benefits from recent improvements including bike lanes, sidewalks, and upgraded drainage infrastructure.
With multiple structures in place and a land area suitable for additional development, the property is positioned for a range of owner-user and service-oriented business uses.
The property is located in unincorporated Escambia County and is zoned Commercial. It sits along E Olive Road just east of N Davis Highway, where Olive Road carries approximately 19,000 vehicles per day at the property. The roadway also benefits from recent improvements including bike lanes, sidewalks, and upgraded drainage infrastructure.
With multiple structures in place and a land area suitable for additional development, the property is positioned for a range of owner-user and service-oriented business uses.
Key Highlights
- Approximately 1.2 acres across three commercial parcels with about 216 ft of frontage on E Olive Road
- Zoned Commercial in unincorporated Escambia County, offering flexibility for business and investment uses
- Includes a 1,234± SF office building plus a 936± SF mechanic shop with approximately 14‑foot ceilings
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
$60,613
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
7.59%
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%
$1,212,260
$1.2M
Cap Rate 7%
$865,900
$865.9K
Cap Rate 9%
$673,478
$673.5K
Market Conditions
NOI Build-Up for 3,594 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
$90.1K $25.08/SF
− Vacancy
−$9.3K −$2.59/SF
EGI
$80.8K $22.49/SF
− OpEx
−$20.2K −$5.62/SF
NOI
$60.6K $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%
$1,212,260
Cap Rate 7%
$865,900
Cap Rate 9%
$673,478
Alternative Uses
Best Use
Office B
$865.9K
$757.7K – $1.01M
NOI $60,613 @ 7.0% cap · market cap 7.59%
Second Best
Retail
$580.3K
$507.8K – $677.0K
NOI $40,620 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$1.05M
$922.9K – $1.23M
NOI $73,835 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
14 ft
Clear height
19,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,096
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32514, FL
40,844
Population
19,117
Households
2.1
Avg Household Size
39
Median Age
33%
College-Educated
91%
High-School Grad
19.8 sq mi
ZIP Area
2,063
Density / Sq Mi
$66,484
Median Household Income
$36,178
Median Earnings
$1,358
Median Rent
$241,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Firestone Complete Auto Care — 7179 N Davis Hwy, Pensacola, FL 32504
- America's Home For Car Service — Ferry Pass, FL 32504
- Lloyd's Tints — 1857 Atwood Dr Apt. 28C, Pensacola, FL 32514
- American Lube Fast — 1901 E Olive Rd, Pensacola, FL 32514
- Travel Quick Motorsports — 2400 E Olive Rd, Pensacola, FL 32514
Frequently Asked Questions
What type of property is this?
Auto shop - Three commercial parcels with frontage on E Olive Road, including an office building, mechanic shop, and a residential unit.
Where is this auto shop located?
The property is located at 2171-2177 E Olive Rd Pensacola, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Approximately 1.2 acres across three commercial parcels with about 216 ft of frontage on E Olive Road; Zoned Commercial in unincorporated Escambia County, offering flexibility for business and investment uses; Includes a 1,234± SF office building plus a 936± SF mechanic shop with approximately 14‑foot ceilings
