New Retail Development on 9
3811 W 9 Mile Rd, Pensacola, FL 32526
For Sale
Contact for pricing
Under construction mixed-use development on high-traffic 9 Mile Road.
Property Size17,183 SF
Price / SF$218.24
Days on Market790
Property Features for 3811 W 9 Mile Rd
General Information
Standard status
Size
Class
Property subtype
Zoning
Investment Type
Listing Agency:
FMIG
Listed By:
Faith Morgan · License ##BK3551079
(850) 889-2571
Source:
Crexi
Added: Sep 8, 2024
Changed: Nov 6
Last Checked: Nov 6 at 8:26AM
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 FMIG
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Investment Insights
Based on property information with market context.
This mixed-use commercial development is currently under construction on 9 Mile Road in Pensacola, Florida. The site is strategically located less than 1 mile from Navy Federal Credit Union’s headquarters and the I-10 corridor, in a fast-growing residential and commercial hub. The development includes a 10,613 square foot daycare building, a 6,570 square foot UPOP convenience store, and a SHELL gas station with 12 pumps. The location benefits from high traffic, with 9 Mile Road boasting over 31,000 AADT (2022). Escambia County has surged to 329,996 residents (2024) with thousands of new residents arriving monthly. The property is adjacent to Fusion Fine Wine & Liquors, and close to The 52 Apartments and Evolve Apartments. It is also minutes from Sacred Heart Hospital, Baptist Health, Pensacola International Airport, and other major employers. The proposed construction start is Fall 2025. This property is suitable for 1031 exchange investors or long-term portfolio growth. Images are conceptual renderings and not representative of the final completed construction.
Key Highlights
- Prime location on 9 Mile Road with high traffic (31,000 AADT).
- New mixed‑use commercial development under construction: Daycare, Convenience Store, and Gas Station.
- Located less than 1 mile from Navy Federal Credit Union headquarters and I‑10.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$205,469
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,109,380
$4.1M
Cap Rate 7%
$2,935,271
$2.9M
Cap Rate 9%
$2,282,989
$2.3M
Market Conditions
NOI Build-Up for 17,183 SF
Gross rent
$299.0K $17.40/SF
− Vacancy
−$25.0K −$1.46/SF
EGI
$274.0K $15.94/SF
− OpEx
−$68.5K −$3.99/SF
NOI
$205.5K $11.96/SF
Area
Escambia County, FL
Vacancy
8.37%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,109,380
Cap Rate 7%
$2,935,271
Cap Rate 9%
$2,282,989
Alternative Uses
Best Use
Specialty Retail
$2.94M
$2.57M – $3.42M
NOI $205,469 @ 7.0% cap · market cap 5.48%
Second Best
Retail
$2.77M
$2.43M – $3.24M
NOI $194,206 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$5.04M
$4.41M – $5.88M
NOI $353,009 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Explore this area
Business Placement
Demographics for 32526, FL
43,029
Population
18,478
Households
2.3
Avg Household Size
41
Median Age
24%
College-Educated
93%
High-School Grad
58.4 sq mi
ZIP Area
737
Density / Sq Mi
$71,651
Median Household Income
$40,565
Median Earnings
$1,287
Median Rent
$230,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Gas station - Under construction mixed-use development on high-traffic 9 Mile Road.
Where is this gas station located?
The property is located at 3811 W 9 Mile Rd Pensacola, FL.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Prime location on 9 Mile Road with high traffic (31,000 AADT).; New mixed‑use commercial development under construction: Daycare, Convenience Store, and Gas Station.; Located less than 1 mile from Navy Federal Credit Union headquarters and I‑10.
