Showroom with Two Grade-Level Roll-Up
For Sale
Contact for pricing
2820 W Cervantes St, Pensacola, FL 32505
Fully renovated showroom at the intersection with two grade-level roll-up doors and an asphalt parking lot.
Property Size3,381 SF
Price / SF$205.56
Days on Market148
Property Features for 2820 W Cervantes St
General Information
Standard status
Active
Size
3,381 SF
Class
A
Property subtype
Retail
Zoning
HC/LI
Additional Details
Corner Location
Yes
Building Details
Year Built
1961
Year Renovated
2026
Buildings
1
Stories
1
Listing Agency:
Devries Realty Group LLC
Listed By:
Logan DeVries · License #FL 3081272
(850) 433-0577
Source:
Crexi
Added: Apr 20
Changed: Sep 10
Last Checked: Sep 14 at 5:52AM
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 Devries Realty Group LLC
Investment Insights
Based on property information with market context.
This fully renovated showroom building at 2820 W Cervantes St, Pensacola, FL 32505 offers a clean, ground-up interior and exterior refresh designed for showroom, office, or retail-office uses. The renovation includes new siding, a new roof, insulation, a new restroom, new electrical service, and an asphalt parking lot.
The building provides vehicle access through two grade-level roll-up doors, each measuring 12' wide x 10' tall. The property sits at the intersection of W. Cervantes St. and North W St., delivering visibility along highly traveled roadways on two sides. The site is located just west of downtown Pensacola and due north of Bayou Chico.
With 3,381 SF, the space is available for purchase, and it is also listed as available for lease.
The building provides vehicle access through two grade-level roll-up doors, each measuring 12' wide x 10' tall. The property sits at the intersection of W. Cervantes St. and North W St., delivering visibility along highly traveled roadways on two sides. The site is located just west of downtown Pensacola and due north of Bayou Chico.
With 3,381 SF, the space is available for purchase, and it is also listed as available for lease.
Key Highlights
- 3,381 SF showroom building at 2820 W Cervantes St, Pensacola, FL 32505
- 100% renovation with new siding, roof, insulation, restroom, and new electrical service
- Two grade‑level roll‑up doors for vehicle access, each 12' wide x 10' tall
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
$38,213
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
5.50%
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%
$764,260
$764.3K
Cap Rate 7%
$545,900
$545.9K
Cap Rate 9%
$424,589
$424.6K
Market Conditions
NOI Build-Up for 3,381 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
$60.9K $18.00/SF
− Vacancy
−$6.3K −$1.85/SF
EGI
$54.6K $16.15/SF
− OpEx
−$16.4K −$4.84/SF
NOI
$38.2K $11.30/SF
Area
Escambia County, FL
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$764,260
Cap Rate 7%
$545,900
Cap Rate 9%
$424,589
Alternative Uses
Best Use
Retail
$545.9K
$477.7K – $636.9K
NOI $38,213 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$992.3K
$868.2K – $1.16M
NOI $69,459 @ 7.0% cap · market cap 9.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
642
Businesses Nearby
8k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 72%
Dining 28%
Dollar General
Shops & Services
5,689 visits/mo
0.2 miles
Quickly Boba Cafe
Dining
2,224 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Showroom - Fully renovated showroom at the intersection with two grade-level roll-up doors and an asphalt parking lot.
Where is this showroom located?
The property is located at 2820 W Cervantes St Pensacola, FL.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 3,381 SF showroom building at 2820 W Cervantes St, Pensacola, FL 32505; 100% renovation with new siding, roof, insulation, restroom, and new electrical service; Two grade‑level roll‑up doors for vehicle access, each 12' wide x 10' tall
