Leased Dental and Orthodontic
For Sale
$1,753,846
3201 Olive Rd, Pensacola, FL 32514
Absolute NNN leased dental and orthodontic facility occupied by Smart Smiles and Wild Smiles.
Property Size4,964 SF
Days on Market100
Property Features for 3201 Olive Rd
General Information
Standard status
Active
Size
4,964 SF
Property subtype
Commercial
Net Operating Income
$114,000
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
4,964 SF
Year Renovated
2023
Listed By:
Jake Allen · License #License No. 3558421 (FL)
(813) 600-3789
Source:
Matthews
Added: May 27
Changed: Sep 3
Last Checked: Sep 2 at 1:16PM
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 Jake Allen
Investment Insights
Based on property information with market context.
Exclusively offered for sale is an absolute NNN leased dental and orthodontic facility currently occupied by Smart Smiles Orthodontics and Wild Smiles Pediatric Dentistry. The tenant is responsible for maintenance, taxes, insurance, and capital expenditures, and the lease is backed by a personal guarantee from ownership. The lease includes 3% annual rent increases.
The property received a significant interior renovation in 2023, including a full gut remodel with updated finishes, fixtures, and modernized improvements. The specialized dental buildout and existing infrastructure support a medically oriented environment with high replacement costs.
Located at 3201 East Olive Road in Pensacola, Florida, the facility is positioned within a dense residential corridor and provides convenient access to Interstate 10, North Davis Highway, and Nine Mile Road.
The property received a significant interior renovation in 2023, including a full gut remodel with updated finishes, fixtures, and modernized improvements. The specialized dental buildout and existing infrastructure support a medically oriented environment with high replacement costs.
Located at 3201 East Olive Road in Pensacola, Florida, the facility is positioned within a dense residential corridor and provides convenient access to Interstate 10, North Davis Highway, and Nine Mile Road.
Key Highlights
- Absolute NNN leased dental and orthodontic facility in Pensacola, FL occupied by Smart Smiles Orthodontics and Wild Smiles Pediatric Dentistry.
- Personal guarantee from ownership backs the lease.
- Tenant is responsible for maintenance, taxes, insurance, and capital expenditures.
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
$83,718
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
4.77%
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%
$1,674,360
$1.7M
Cap Rate 7%
$1,195,971
$1.2M
Cap Rate 9%
$930,200
$930.2K
Market Conditions
NOI Build-Up for 4,964 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
$124.5K $25.08/SF
− Vacancy
−$12.9K −$2.59/SF
EGI
$111.6K $22.49/SF
− OpEx
−$27.9K −$5.62/SF
NOI
$83.7K $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%
$1,674,360
Cap Rate 7%
$1,195,971
Cap Rate 9%
$930,200
Alternative Uses
Best Use
Office B
$1.20M
$1.05M – $1.40M
NOI $83,718 @ 7.0% cap · market cap 4.77%
Second Best
Healthcare Medical
$956.8K
$837.2K – $1.12M
NOI $66,974 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$1.46M
$1.27M – $1.70M
NOI $101,981 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
199
Businesses Nearby
Under-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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Absolute NNN leased dental and orthodontic facility occupied by Smart Smiles and Wild Smiles.
Where is this medical office space located?
The property is located at 3201 Olive Rd Pensacola, FL.
What is the asking price?
The asking price for this property is $1,753,846.
What are key features of this property?
This property features: Absolute NNN leased dental and orthodontic facility in Pensacola, FL occupied by Smart Smiles Orthodontics and Wild Smiles Pediatric Dentistry.; Personal guarantee from ownership backs the lease.; Tenant is responsible for maintenance, taxes, insurance, and capital expenditures.
