Flex Industrial Building with
New
For Sale
$1,200,000
4201 N Palafox St, Pensacola, FL 32505
Industrial flex property combining office space, warehouse areas, service functions, and multiple loading bays.
Property Size11,881 SF
Days on Market7
Property Features for 4201 N Palafox St
General Information
Standard status
Active
Size
11,881 SF
Property subtype
Industrial
Building Details
Building Size
11,881 SF
Year Built
1960
Listing Agency:
NAI Pensacola
(850) 380-6150
Listed By:
DeeDee Davis · License #FL #BK3420583
(850) 380-6150
Source:
Naiglobal
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 31 at 3:11PM
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 NAI Pensacola
Investment Insights
Based on property information with market context.
This flex industrial property includes an 11,881-square-foot enclosed building with approximately 9,593 square feet of warehouse area and 2,288 square feet of office space. The facility also provides service areas, five warehouse bays, a canopy, and an open loading platform. Total area, including the canopy and loading platform, is 13,249 square feet.
The property consists of two adjoining parcels totaling approximately 1.8439 acres at 4201 N Palafox St in Pensacola. It occupies the corner of North Palafox and West Loretta streets, with frontage and access features suited to warehouse and service-oriented operations. Built in 1960, the site combines enclosed flex space with outdoor loading and laydown functionality.
The property consists of two adjoining parcels totaling approximately 1.8439 acres at 4201 N Palafox St in Pensacola. It occupies the corner of North Palafox and West Loretta streets, with frontage and access features suited to warehouse and service-oriented operations. Built in 1960, the site combines enclosed flex space with outdoor loading and laydown functionality.
Key Highlights
- 11,881 SF enclosed warehouse and office building
- Approximately 9,593 SF of warehouse space
- Approximately 2,288 SF of office space
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
$90,727
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
7.56%
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%
$1,814,540
$1.8M
Cap Rate 7%
$1,296,100
$1.3M
Cap Rate 9%
$1,008,078
$1.0M
Market Conditions
NOI Build-Up for 11,881 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
$118.3K $9.96/SF
− Vacancy
−$11.6K −$0.98/SF
EGI
$106.7K $8.98/SF
− OpEx
−$16.0K −$1.35/SF
NOI
$90.7K $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%
$1,814,540
Cap Rate 7%
$1,296,100
Cap Rate 9%
$1,008,078
Alternative Uses
Best Use
Office B
$2.86M
$2.50M – $3.34M
NOI $200,374 @ 7.0% cap · market cap 16.70%
Second Best
Flex RnD
$1.92M
$1.68M – $2.24M
NOI $134,605 @ 7.0% cap · market cap 11.22%
Theoretical Best
Office A
$3.49M
$3.05M – $4.07M
NOI $244,084 @ 7.0% cap · market cap 20.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
538
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Cordero's Southern Swang Catering — North W Street, Pensacola, FL 32505
- Costal Cajun Cuisine — 4024 N Davis Hwy, Pensacola, FL 32503
Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex property combining office space, warehouse areas, service functions, and multiple loading bays.
Where is this flex space located?
The property is located at 4201 N Palafox St Pensacola, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 11,881 SF enclosed warehouse and office building; Approximately 9,593 SF of warehouse space; Approximately 2,288 SF of office space
