Flex Space with Service
For Sale
Contact for pricing
2339 Truman Ave, Pensacola, FL 32505
Air-conditioned commercial facility with office areas, service bays, and substantial roll-up door access.
Property Size6,520 SF
Lot Size1.34 Acres
Price / SF$111.96
Days on Market221
Property Features for 2339 Truman Ave
General Information
Standard status
Active
Size
6,520 SF
Lot size
1.34 Acres
Property subtype
INDUSTRIAL
Additional Details
Outdoor Storage
Yes
Conditioned Warehouse
Yes
Building Details
Buildings
2
Properties For Sale
at 2339 Truman Ave Contact us- Floor
- 1
- Size
- 6,520 SF
- Type
- INDUSTRIAL
- Lease Type
- OTHER
- Availability
- AVAILABLE, Now
Fully Air-Conditioned Automotive Service Facility | 2 Parcels
Offered for rent is a versatile commercial property currently configured for automotive...
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Listing Agency:
Dalton Wade, Inc
(850) 380-8180
Listed By:
Maria Sokolova
(850) 380-8180
Source:
Moodyscre
Added: Jan 21
Changed: Aug 29
Last Checked: Aug 29 at 3:48PM
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 Dalton Wade, Inc
Investment Insights
Based on property information with market context.
This flex-space property comprises two industrial-style buildings totaling approximately 6,520 square feet across two adjacent parcels combined as one real estate asset. The interior includes automotive service bays and office areas, with air conditioning throughout the buildings and service areas. Ten large roll-up doors support vehicle and material movement through the facility.
The site also includes yard space and a configuration suited to automotive service, repair, distribution, warehouse, or similar commercial operations. The offering consists of the real estate only; business operations, inventory, equipment, and personal property are excluded.
The site also includes yard space and a configuration suited to automotive service, repair, distribution, warehouse, or similar commercial operations. The offering consists of the real estate only; business operations, inventory, equipment, and personal property are excluded.
Key Highlights
- Two industrial‑style buildings totaling approximately 6,520 square feet
- Two adjacent parcels combined into one real estate asset
- Ten large roll‑up doors serving the facility
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
$49,789
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
6.82%
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%
$995,780
$995.8K
Cap Rate 7%
$711,271
$711.3K
Cap Rate 9%
$553,211
$553.2K
Market Conditions
NOI Build-Up for 6,520 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
$64.9K $9.96/SF
− Vacancy
−$6.4K −$0.98/SF
EGI
$58.6K $8.98/SF
− OpEx
−$8.8K −$1.35/SF
NOI
$49.8K $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%
$995,780
Cap Rate 7%
$711,271
Cap Rate 9%
$553,211
Alternative Uses
Best Use
Flex RnD
$1.06M
$923.4K – $1.23M
NOI $73,868 @ 7.0% cap · market cap 10.12%
Second Best
Retail
$1.05M
$921.1K – $1.23M
NOI $73,690 @ 7.0% cap · market cap 10.09%
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,947 @ 7.0% cap · market cap 18.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
747
Businesses Nearby
Balanced
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Flex space - Air-conditioned commercial facility with office areas, service bays, and substantial roll-up door access.
Where is this flex space located?
The property is located at 2339 Truman Ave Pensacola, FL.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: Two industrial‑style buildings totaling approximately 6,520 square feet; Two adjacent parcels combined into one real estate asset; Ten large roll‑up doors serving the facility
