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    Pensacola Commercial Development Site Title is generated by Realmo AI

    2215 Fairburn St/ Olive Rd, Pensacola, FL

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    17-acre commercial development site in Ferry Pass, Pensacola, FL.

    Type:LAND
    Lot size:
    17.00 Acres
    Added:
    Oct 19, 2025
    Days on Market:
    228
    Last Refresh:
    May 20 at 8:02 pm

    Property Features for 2215 Fairburn St/ Olive Rd

    General Information

    Standard status
    Active
    Lot size
    17.00 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Melissa Glyptis Simpson

    Listing agent Melissa Glyptis Simpson

    Listing office Coldwell Banker Commercial Realty

    Listing date Oct 19, 2025

    Source Moodyscre

    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 Coldwell Banker Commercial Realty

    HighLights

    • High‑traffic location with excellent accessibility: Multiple access points from Olive Rd and Davis Hwy ensure convenient access.
    • Significant development potential: Split zoning allows for a combination of commercial and medium‑density residential development.
    • Prime location in Ferry Pass: Situated between N. Davis Hwy and E. Olive Rd, surrounded by key locations.
    • Strong demographics: A large population with a solid average household income within a 5‑mile radius indicates a strong customer base.
    • High traffic counts: Olive Rd AADT of 19,400 and Davis Hwy AADT of 58,500 provide high visibility.
    • Proximity to major transportation routes: Less than one mile from I‑10 and I‑110, offering excellent connectivity.

    Overview

    This commercial development site is located in the heart of Ferry Pass between N. Davis Hwy and E. Olive Rd in Pensacola, FL. The site measures approximately 17 acres and features split zoning. Approximately 12.11 acres are zoned COM, allowing 25 units per acre, and approximately 4.89 acres are zoned MDR, allowing 10 units per acre. The site is within the service area of the Pensacola Bay Mitigation Bank. Accessibility includes 100 feet of frontage and a curb cut on Olive Rd, with a second entrance at Olive Rd and Binkley St with a full median cut. Additional access is available from the stop light at Davis Hwy/Klinger St and via a turn lane at Davis Hwy/Berg St. The surrounding area includes West Florida Hospital, Ferry Pass Plaza, University Town Plaza, University Town Center, I-10/I-110, Ellyson Industrial Park, and The University of West Florida. The site is located next to the Davis Hwy Escambia County Area Transit Bus Route. Traffic counts include 19,400 AADT on Olive Rd and 58,500 AADT on Davis Hwy. I-10 and I-110 are less than one mile away. The demographics within a 5-mile radius include a total population of 112,344 and an average household income of $78,347.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Pensacola
    County
    Escambia
    State
    Florida
    Longitude
    -87.2519
    Latitude
    30.4415

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    FAQs

    What type of property is this?
    Land - 17-acre commercial development site in Ferry Pass, Pensacola, FL.
    Where is this land located?
    The property is located at 2215 Fairburn St/ Olive Rd Pensacola, FL.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: High‑traffic location with excellent accessibility: Multiple access points from Olive Rd and Davis Hwy ensure convenient access.; Significant development potential: Split zoning allows for a combination of commercial and medium‑density residential development.; Prime location in Ferry Pass: Situated between N. Davis Hwy and E. Olive Rd, surrounded by key locations.
    (850) 733-6532 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Melissa Glyptis Simpson
    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.

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