Freestanding QSR with
For Sale
$685,000
3507 Pace Blvd, Pensacola, FL 32505
QSR FOR SALE PENSACOLA FL
Property Size2,984 SF
Lot Size0.88 Acres
Price / SF$229.56
Days on Market196
Property Features for 3507 Pace Blvd
General Information
Standard status
Active
Property type
Other retail properties, Other commercial real estate
Size
2,984 SF
Net Rentable
2,984 SF
Class
B
Total Parking Spaces
20
Lot size
0.88 Acres
Investment Type
1
Building Details
Year Built
1980
Buildings
1
Listing Agency:
FMIG
Listed By:
Faith Morgan · License #BK3551079
(850) 889-2571
Added: Feb 23
Changed: Apr 8
Investment Insights
Based on property information with market context.
This freestanding 2,984-square-foot property, formerly occupied by Burger King and Mr. Wings, is available for sale in Pensacola, Florida. Situated on 0.88 acres, the property features a drive-thru, a full commercial kitchen, and ample on-site parking. The property is suitable for restaurant or retail use.
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
$33,726
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
4.92%
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%
$674,520
$674.5K
Cap Rate 7%
$481,800
$481.8K
Cap Rate 9%
$374,733
$374.7K
Market Conditions
NOI Build-Up for 2,984 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
$53.7K $18.00/SF
− Vacancy
−$5.5K −$1.85/SF
EGI
$48.2K $16.15/SF
− OpEx
−$14.5K −$4.84/SF
NOI
$33.7K $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%
$674,520
Cap Rate 7%
$481,800
Cap Rate 9%
$374,733
Alternative Uses
Best Use
Retail
$481.8K
$421.6K – $562.1K
NOI $33,726 @ 7.0% cap · market cap 4.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$875.8K
$766.3K – $1.02M
NOI $61,303 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
926
Businesses Nearby
143k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 36%
Apparel 6%
Electronics 2%
CEFCO
Shops & Services
23,077 visits/mo
0.1 miles
McDonald's
Dining
22,580 visits/mo
0.2 miles
Whataburger
Dining
19,400 visits/mo
0.2 miles
Wendy's
Dining
16,454 visits/mo
0.3 miles
Circle K
Shops & Services
11,937 visits/mo
0.2 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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Other retail property - QSR FOR SALE PENSACOLA FL
Where is this other retail property located?
The property is located at 3507 Pace Blvd Pensacola, FL.
What is the asking price?
The asking price for this property is $685,000.
