Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3243 N Palafox St Molino, FL 32501

    View on Map
    Picture of Other land at 3243 N Palafox St, Molino, FL
    For Sale
    $320,000

    0.66 Acres Vacant Land For Sale

    Property size:
    29,102 SF
    Lot size:
    0.67 Acres
    Price / SF:
    $10/SF
    Added:
    Feb 17, 2025
    Days on Market:
    431
    Last Refresh:
    Mar 16 at 9:06 am

    Property Features for 3243 N Palafox St

    General Information

    Standard status
    Active
    Property type
    Other land, Commercial land, Industrial land, Land
    Size
    29,102 SF
    Elevators
    N/A
    Lot size
    0.67 Acres

    We can help!

    Listing Contact
    Paul Salter

    Listing agent Paul License #FL BK3105171

    Listing office Salter Commercial, LLC

    Listing date Feb 17, 2025

    Overview

    Molino Commercial Land Investment

    This 0.66-acre parcel of land in Molino, Florida, presents an investment opportunity. Located at 3243 N Palafox St, zip code 32501, Escambia County, the property is zoned for Heavy Commercial/Light Industrial use (HC/LI), offering flexibility for development projects. The lot is ready for immediate development, making it suitable for owner-users, developers, or investors seeking a strategic location with accessibility. The HC/LI zoning allows for diverse commercial or light industrial uses, catering to business needs. The location within a developing area ensures future prospects. The property encompasses 29102 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Molino
    County
    Escambia
    State
    Florida
    Longitude
    -87.2234
    Latitude
    30.4205

    Nearby Similar for Sale

    • $150,000

      Molino, FL Acreage for Development

      4.89-acre lot zoned RMU, suitable for residential development.
      2000 Molino Rd, Molino, FL 32577
      View Details
    • $150,000

      Molino, FL Acreage Lot

      4.9 acre lot zoned for residential use.
      2000 Molino Road, Molino, FL 32577
      View Details
    • $150,000

      Molino Buildable Lots Development Opportunity

      2.28-acre property with plans for four homes in Molino.
      275 Molino Rd, Molino, FL 32577
      View Details
    • $165,000

      Molino, Florida Land Opportunity

      4+ acres of land in a growing community.
      1400 Hwy 97, Molino, FL 32577
      View Details
    • $200,000

      5-Acre Ready-to-Build Land Parcel

      Cleared 5-acre Molino land, ready for custom home.
      400 Meharg Rd lot: C, Molino, FL 32577
      View Details
    • $115,000

      Molino, FL 4.8-Acre Land Parcel

      4.8-acre homesite in Pine Barren Creek Estates, Molino, FL.
      Cotton Lake Rd lot: 6C, Molino, FL 32577
      View Details
    • $34,000

      Spacious Land Parcel in Molino

      0.79 acre lot perfect for custom home in Molino, FL.
      1100 Mckinnonville Rd, Molino, FL 32577
      View Details
    • $160,000

      Molino Acreage Homesite Opportunity

      4.33-acre homesite in gated community near Pensacola.
      Morgans Branch lot: 31, Molino, FL 32577
      View Details
    • $240,000

      Molino Acreage Homesite Opportunity

      Gated 6.2-acre homesite near Pensacola with modern infrastructure.
      Morgans Branch lot: 33, Molino, FL 32577
      View Details
    • $240,000

      Molino Acreage Homesite Opportunity

      6.07-acre homesite in gated community near Pensacola.
      Morgans Branch lot: 1, Molino, FL 32577
      View Details
    • $210,000

      Acreage Homesite in Gated Community

      5.11-acre lot in Molino's premier gated acreage community.
      Sounder Dr lot: 9, Molino, FL 32577
      View Details
    • $170,000

      Acreage Homesite in Gated Community

      Private 4.13-acre homesite in Molino's premier gated community.
      Sounder Dr lot: 8, Molino, FL 32577
      View Details

    FAQs

    What type of property is this?
    Land - 0.66 Acres Vacant Land For Sale
    Where is this land located?
    The property is located at 3243 N Palafox St Molino, FL.
    What is the asking price?
    The asking price for this property is $320,000.
    (225) 931-3200
    We can help!
    Listing Contact
    Paul Salter
    Real Estate License ID: FL BK3105171
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!