Freestanding Storefront
New
For Sale
$850,000
3601 Highway 90, Pace, FL 32571
Freestanding commercial building with a new roof and access from US Highway 90.
Property Size3,445 SF
Days on Market2
Property Features for 3601 Highway 90
General Information
Standard status
Active
Size
3,445 SF
Property subtype
Retail
Building Details
Building Size
3,445 SF
Listing Agency:
Bellcore Commercial LLC
(850) 503-3005
Listed By:
Melissa Simpson, CCIM · License #FL #BK3338591
(850) 503-3005
Source:
Bellcorecommercial
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 5:41AM
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 Bellcore Commercial LLC
Investment Insights
Based on property information with market context.
This freestanding storefront property features a newly installed roof and sits along US Highway 90 in Pace, Florida. The building occupies the first structure on the eastbound side as motorists enter Pace, providing a prominent position along the corridor.
Access is supported by a full median cut on US Highway 90, with 150 feet of highway frontage. The property is positioned just beyond the US Highway 90 and Woodbine Road intersection and benefits from reported average annual daily traffic of 37,500. Demographic data identifies a total population of 49,073 within 5 miles.
Access is supported by a full median cut on US Highway 90, with 150 feet of highway frontage. The property is positioned just beyond the US Highway 90 and Woodbine Road intersection and benefits from reported average annual daily traffic of 37,500. Demographic data identifies a total population of 49,073 within 5 miles.
Key Highlights
- Freestanding storefront building in Pace, FL
- New roof
- 150 Ft of Hwy Rd Frontage
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
$45,510
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
5.35%
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%
$910,200
$910.2K
Cap Rate 7%
$650,143
$650.1K
Cap Rate 9%
$505,667
$505.7K
Market Conditions
NOI Build-Up for 3,445 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
$65.3K $18.96/SF
− Vacancy
−$4.6K −$1.35/SF
EGI
$60.7K $17.61/SF
− OpEx
−$15.2K −$4.40/SF
NOI
$45.5K $13.21/SF
Area
Santa Rosa County, FL
Vacancy
7.10%
Lease Rate
$18.96 /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%
$910,200
Cap Rate 7%
$650,143
Cap Rate 9%
$505,667
Alternative Uses
Best Use
Specialty Retail
$650.1K
$568.9K – $758.5K
NOI $45,510 @ 7.0% cap · market cap 5.35%
Second Best
Retail
$529.6K
$463.4K – $617.8K
NOI $37,070 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$848.3K
$742.3K – $989.7K
NOI $59,381 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
358
Businesses Nearby
46k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 25%
Apparel 18%
McDonald's
Dining
19,214 visits/mo
0.1 miles
Raceway
Shops & Services
9,123 visits/mo
0.0 miles
Goodwill
Apparel
8,427 visits/mo
0.4 miles
Waffle House
Dining
6,603 visits/mo
0.1 miles
Zips Car Wash
Shops & Services
2,589 visits/mo
0.1 miles
Demographics for 32571, FL
38,885
Population
15,041
Households
2.6
Avg Household Size
39
Median Age
33%
College-Educated
93%
High-School Grad
112.6 sq mi
ZIP Area
345
Density / Sq Mi
$89,137
Median Household Income
$46,400
Median Earnings
$1,186
Median Rent
$281,600
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?
Storefront property - Freestanding commercial building with a new roof and access from US Highway 90.
Where is this storefront property located?
The property is located at 3601 Highway 90 Pace, FL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Freestanding storefront building in Pace, FL; New roof; 150 Ft of Hwy Rd Frontage
