Two-Unit Office Suite
For Sale
$850,000
4400 Bayou Boulevard Suites 27 & 28, Pensacola, FL 32504
Two leased office suites totaling 3,600 SF in C-1 neighborhood commercial zoning near major healthcare and retail.
Property Size3,646 SF
Price / SF$236.11
Days on Market54
Property Features for 4400 Bayou Boulevard Suites 27 & 28
General Information
Standard status
Active
Size
3,646 SF
Class
B
Property subtype
Office
Zoning
C-1
Additional Details
Cap Rate
8.5%
Building Details
Building Size
3,646 SF
Listing Agency:
Beau Box Florida LLC
(850) 380-7633
Listed By:
Rick Appleyard
(850) 380-7633
Source:
Beaubox
Added: Jun 25
Changed: Aug 16
Last Checked: Aug 17 at 4:11AM
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 Beau Box Florida LLC
Investment Insights
Based on property information with market context.
Beau Box Commercial presents 27 & 28 Bayou Boulevard, a two-suite office property with a total size of 3,600 SF, comprising 2,400 SF and 1,200 SF. The property is offered as an owner-user or investment opportunity, with zoning designated as C-1. Current income is supported by Suite 27, which is leased at $4,000 per month, producing a current NOI of $48,000.
The building is located on Bayou Boulevard in Pensacola’s office corridor near Cordova Mall, Ascension Sacred Heart Hospital, and surrounding retail amenities, supporting day-to-day convenience for office tenants and customers.
For investors, the asset provides immediate rental income through Suite 27 and is modeled for additional income through Suite 28 under a pro forma scenario, resulting in a pro forma NOI of approximately $72,000. For owner-users, the property’s two-suite configuration can support an occupied workflow while retaining the option to lease the other suite. The current and pro forma cap rates provided are 5.6% and approximately 8.5%, respectively, based on the stated asking price.
The building is located on Bayou Boulevard in Pensacola’s office corridor near Cordova Mall, Ascension Sacred Heart Hospital, and surrounding retail amenities, supporting day-to-day convenience for office tenants and customers.
For investors, the asset provides immediate rental income through Suite 27 and is modeled for additional income through Suite 28 under a pro forma scenario, resulting in a pro forma NOI of approximately $72,000. For owner-users, the property’s two-suite configuration can support an occupied workflow while retaining the option to lease the other suite. The current and pro forma cap rates provided are 5.6% and approximately 8.5%, respectively, based on the stated asking price.
Key Highlights
- Two leased office suites at 27 & 28 Bayou Blvd totaling 3,600 SF (2,400 SF + 1,200 SF) in C‑1 neighborhood commercial zoning
- Current income: $48,000 NOI, with Suite 27 leased at $4,000/month
- Pro forma income: ~$72,000 NOI assuming Suite 28 is leased at market rate
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
$60,714
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
7.14%
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%
$1,214,280
$1.2M
Cap Rate 7%
$867,343
$867.3K
Cap Rate 9%
$674,600
$674.6K
Market Conditions
NOI Build-Up for 3,600 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
$90.3K $25.08/SF
− Vacancy
−$9.3K −$2.59/SF
EGI
$81.0K $22.49/SF
− OpEx
−$20.2K −$5.62/SF
NOI
$60.7K $16.87/SF
Area
Escambia County, FL
Vacancy
10.34%
Lease Rate
$25.08 /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%
$1,214,280
Cap Rate 7%
$867,343
Cap Rate 9%
$674,600
Alternative Uses
Best Use
Office B
$867.3K
$758.9K – $1.01M
NOI $60,714 @ 7.0% cap · market cap 7.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$924.5K – $1.23M
NOI $73,959 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,549
Businesses Nearby
Explore this area
Business Placement
Demographics for 32504, FL
21,791
Population
10,436
Households
2.1
Avg Household Size
43
Median Age
41%
College-Educated
92%
High-School Grad
10.5 sq mi
ZIP Area
2,075
Density / Sq Mi
$74,067
Median Household Income
$41,990
Median Earnings
$1,257
Median Rent
$242,400
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?
Office units - Two leased office suites totaling 3,600 SF in C-1 neighborhood commercial zoning near major healthcare and retail.
Where is this office units located?
The property is located at 4400 Bayou Boulevard Suites 27 & 28 Pensacola, 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: Two leased office suites at 27 & 28 Bayou Blvd totaling 3,600 SF (2,400 SF + 1,200 SF) in C‑1 neighborhood commercial zoning; Current income: $48,000 NOI, with Suite 27 leased at $4,000/month; Pro forma income: ~$72,000 NOI assuming Suite 28 is leased at market rate
