Pensacola Industrial Property with
For Sale
$950,000
4215 N P street, Pensacola, FL 32505
"P" St - HC/LI - 3 warehouses, new office, + residence - 1.5 acres For Sale
Property Size5,529 SF
Lot Size1.55 Acres
Price / SF$171.82
Days on Market559
Property Features for 4215 N P street
General Information
Standard status
Active
Property type
Distribution properties, Warehouses, Other office properties, Industrial properties, Office Spaces
Size
5,529 SF
Net Rentable
5,529 SF
Elevators
N/A
Lot size
1.55 Acres
Building Details
Buildings
5
Stories
1
Listing Agency:
(850) 564-0120
Listed By:
Paul
(850) 564-0120
Added: Feb 12, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
This Pensacola, Florida property offers an exceptional investment opportunity on 1.55 acres with 240 feet of road frontage. Located in Escambia County's industrial zone and zoned HC/LI, the site features three warehouses totaling 4100 square feet. These warehouses provide ample storage and are equipped with multiple roll-up doors. Additionally, there is a newly renovated office building with over 1400 square feet, including three private offices, an executive office with a full bath, a break area, and two additional bathrooms (one full, one half). The property also includes a residential house that is currently habitable, although some updates may be desired. The entire 5529 square foot site is secured by a six-foot fence, constructed with a combination of chain-link and privacy materials. Ample parking and a sizable lay-down yard are available. The property benefits from convenient access to major thoroughfares, including Pace Boulevard, Palafox Street, and W Street. This versatile property presents a unique blend of industrial and residential uses, making it ideal for owner-occupancy or investment.
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
$42,221
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
4.44%
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%
$844,420
$844.4K
Cap Rate 7%
$603,157
$603.2K
Cap Rate 9%
$469,122
$469.1K
Market Conditions
NOI Build-Up for 5,529 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
$55.1K $9.96/SF
− Vacancy
−$5.4K −$0.98/SF
EGI
$49.7K $8.98/SF
− OpEx
−$7.5K −$1.35/SF
NOI
$42.2K $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%
$844,420
Cap Rate 7%
$603,157
Cap Rate 9%
$469,122
Alternative Uses
Best Use
Office B
$1.33M
$1.17M – $1.55M
NOI $93,247 @ 7.0% cap · market cap 9.82%
Second Best
Warehouse
$603.2K
$527.8K – $703.7K
NOI $42,221 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,588 @ 7.0% cap · market cap 11.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
383
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Distribution property - "P" St - HC/LI - 3 warehouses, new office, + residence - 1.5 acres For Sale
Where is this distribution property located?
The property is located at 4215 N P street Pensacola, FL.
What is the asking price?
The asking price for this property is $950,000.
