Functional Warehouse in Industrial
For Sale
$585,000
3603 N Q St, Pensacola, FL 32505
4,776 SF warehouse ideal for owner-users or investors.
Property Size4,776 SF
Lot Size0.32 Acres
Price / SF$122.49
Days on Market170
Property Features for 3603 N Q St
General Information
Standard status
Active
Size
4,776 SF
Lot size
0.32 Acres
Property subtype
Industrial
Building Details
Year Built
2009
Listing Agency:
SVN | Southland Commercial Real Estate
(727) 831-1236
Listed By:
Corey O'Kelley · License #FL #SL3621912
(727) 831-1236
Source:
Southlandcommercial
Added: Mar 6
Changed: Jul 6
Last Checked: Aug 22 at 4:13AM
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 SVN | Southland Commercial Real Estate
Investment Insights
Based on property information with market context.
Located in Pensacola’s established industrial district, this 4,776 SF warehouse on N Q Street is suitable for owner-users or investors seeking functional industrial space. The property features three 16-foot roll-up doors, an 18-foot eave height, and an open interior layout. It is conducive to distribution, fabrication, storage, or service-based operations. Situated on 0.32 acres, the light industrial warehouse provides a balance of building efficiency and usable yard space. The property offers accessibility and utility for a variety of commercial and industrial uses. The durable metal construction minimizes deferred maintenance, making it a turnkey light industrial facility with immediate functionality. There is strong demand for warehouse and contractor space in the Pensacola market.
Key Highlights
- Functional 4,776 SF warehouse in Pensacola's established industrial district.
- Three 16‑foot roll‑up doors and 18‑foot eave height for excellent utility.
- Open interior layout suitable for distribution, fabrication, storage, or service‑based operations.
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
$36,471
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
6.23%
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%
$729,420
$729.4K
Cap Rate 7%
$521,014
$521.0K
Cap Rate 9%
$405,233
$405.2K
Market Conditions
NOI Build-Up for 4,776 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
$47.6K $9.96/SF
− Vacancy
−$4.7K −$0.98/SF
EGI
$42.9K $8.98/SF
− OpEx
−$6.4K −$1.35/SF
NOI
$36.5K $7.64/SF
Area
Escambia County, FL
Vacancy
9.80%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
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%
$729,420
Cap Rate 7%
$521,014
Cap Rate 9%
$405,233
Alternative Uses
Best Use
Warehouse
$521.0K
$455.9K – $607.9K
NOI $36,471 @ 7.0% cap · market cap 6.23%
Second Best
Industrial
$384.7K
$336.6K – $448.8K
NOI $26,929 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,118 @ 7.0% cap · market cap 16.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
795
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - 4,776 SF warehouse ideal for owner-users or investors.
Where is this warehouse located?
The property is located at 3603 N Q St Pensacola, FL.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Functional 4,776 SF warehouse in Pensacola's established industrial district.; Three 16‑foot roll‑up doors and 18‑foot eave height for excellent utility.; Open interior layout suitable for distribution, fabrication, storage, or service‑based operations.
