Two-Story Mixed-Use
45 South 9th Avenue, Pensacola, FL 32514
For Sale
Contact for pricing
Commercial space with a leased first floor and an upper-level residence connected by elevator access.
Property Size4,510 SF
Price / SF$410.20
Days on Market106
Property Features for 45 South 9th Avenue
General Information
Standard status
Size
Class
Elevators
Property subtype
Zoning
Occupancy
Lease Type
Amenities
elevator
balconies
patio
green space
Building Details
Year Built
Buildings
Stories
Units
Tenancy
Construction
Owner Occupied
Listing Agency:
NAI Pensacola
Listed By:
DeeDee Davis · License #FL 3037624
(850) 380-6150
Source:
Crexi
Added: Jul 27
Changed: Oct 26
Last Checked: Nov 8 at 6:03AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4,510-square-foot mixed-use building, completed in 2005, combines commercial space on the first floor with a residential unit above. The first-floor area is leased to R&R Restoration under a triple-net lease through February 2028 and includes renewal options. Its layout features approximately 12-foot ceilings, reception and work areas, three semi-private offices, a conference room, kitchen and dining areas, a bar, two restrooms, and rear access. Capped plumbing remains accessible from the property's prior salon use.
The approximately 2,000-square-foot upper residence includes elevator service, an open great room with 12-foot ceilings, a kitchen with granite countertops and stainless steel appliances, two bedrooms, two full baths, and a flex room. Both bedrooms open to private balconies, and the primary suite includes two walk-in closets and double vanities. Enclosed outdoor space includes brick walls, green space, and an open patio. The property is zoned GRD-1 and located at 45 South 9th Avenue in Pensacola, Florida.
The approximately 2,000-square-foot upper residence includes elevator service, an open great room with 12-foot ceilings, a kitchen with granite countertops and stainless steel appliances, two bedrooms, two full baths, and a flex room. Both bedrooms open to private balconies, and the primary suite includes two walk-in closets and double vanities. Enclosed outdoor space includes brick walls, green space, and an open patio. The property is zoned GRD-1 and located at 45 South 9th Avenue in Pensacola, Florida.
Key Highlights
- 4,510‑square‑foot mixed‑use building completed in 2005
- First‑floor R&R Restoration lease runs through February 2028 with renewal options
- Approximately 2,000‑square‑foot upper residence with elevator access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,061
Cap Rate
4.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,521,220
$1.5M
Cap Rate 7%
$1,086,586
$1.1M
Cap Rate 9%
$845,122
$845.1K
Market Conditions
NOI Build-Up for 4,510 SF
Gross rent
$113.1K $25.08/SF
− Vacancy
−$11.7K −$2.59/SF
EGI
$101.4K $22.49/SF
− OpEx
−$25.4K −$5.62/SF
NOI
$76.1K $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 Rate 5%
$1,521,220
Cap Rate 7%
$1,086,586
Cap Rate 9%
$845,122
Alternative Uses
Best Use
Office B
$1.09M
$950.8K – $1.27M
NOI $76,061 @ 7.0% cap · market cap 4.11%
Second Best
Mixed Use
$765.4K
$669.7K – $893.0K
NOI $53,579 @ 7.0% cap · market cap 2.90%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,654 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
187
Businesses Nearby
Explore this area
Business Placement
Demographics for 32514, FL
40,844
Population
19,117
Households
2.1
Avg Household Size
39
Median Age
33%
College-Educated
91%
High-School Grad
19.8 sq mi
ZIP Area
2,063
Density / Sq Mi
$66,484
Median Household Income
$36,178
Median Earnings
$1,358
Median Rent
$241,300
Median Home Value
Market
Average Price Trend$/SF for Mixed-use properties in Pensacola, FL
Properties on Market for Mixed-use properties in Pensacola
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial space with a leased first floor and an upper-level residence connected by elevator access.
Where is this mixed-use property located?
The property is located at 45 South 9th Avenue Pensacola, FL.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 4,510‑square‑foot mixed‑use building completed in 2005; First‑floor R&R Restoration lease runs through February 2028 with renewal options; Approximately 2,000‑square‑foot upper residence with elevator access
