Modern Office Building Investment
510 Corday St Pensacola, FL 32503
510 Corday St, Pensacola, FL, 32503
$1,090,000
For Sale
$1,090,000
Two-story Pensacola office building near hospitals and I-10.
Property Size4,616 SF
Price / SF$236.14
Days on Market175
Property Features for 510 Corday St
General Information
- Standard status
- Active
- Size
- 4,616 SF
- Property subtype
- Office
Building Details
- Year Built
- 2000
Listing Agency
Bellcore Commercial LLC
(850) 232-2587
Listed by
Robert Bell · License #FL #SL698346
(850) 232-2587
Source
Bellcorecommercial
Added: Jan 27 Updated: Jul 6 at 10:11 am Checked: Jul 20 at 3:37 am
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 Bellcore Commercial LLC
Investment Insights
Based on property information with market context.
Located at 510 Corday St in Pensacola, FL, this modern two-story office building, constructed in 2000, offers 4,616 SF of versatile space suitable for single or multi-department use. The property is zoned HDMU and provides immediate access to I-10 for regional connectivity. Its location is just minutes away from both Baptist Hospital and Ascension Sacred Heart Hospital, making it a compelling location for medical or professional office use. Pensacola is located on Florida’s Gulf Coast near the Florida/Alabama state line. The Pensacola market has experienced explosive growth in recent years due to the high population growth and strong median income. The strong economy and tourism have fueled the housing and retail demand in Pensacola over recent years. The government has a substantial presence in the metro, with more than 23,000 military and civilian personnel employed at NAS Pensacola, located just miles from the site. The property is in close proximity to the core retail trade area, the airport, hospital, University of West Florida, NAS Pensacola, Whiting Field Naval Base, and tourist beach destinations such as Perdido Key, Pensacola Beach, Gulf Breeze, and Navarre Beach.
Key Highlights
- Prime location with immediate access to I‑10, providing excellent regional connectivity.
- Close proximity to Baptist Hospital and Ascension Sacred Heart Hospital, ideal for medical or professional tenants.
- Versatile 4,616 SF two‑story building constructed in 2000, suitable for single or multi‑department use.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $115.8k | $25.08 |
| − Vacancy | −$12.0k | −$2.59 |
| EGI | $103.8k | $22.49 |
| − OpEx | −$25.9k | −$5.62 |
| NOI | $77.8k | $16.87 |
4,616 SF · lease $25.08/SF/yr · vacancy 10.34% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.11M
$973.1K – $1.30M
NOI $77,849 @ 7.0% cap · market cap 7.14%
Second Best
Healthcare Medical
$889.7K
$778.5K – $1.04M
NOI $62,279 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$1.35M
$1.19M – $1.58M
NOI $94,831 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Comprehensive Pain Medicine
Physician
Dr. Stewart Z. ...
Physician
Cartia Craig C ...
Physician
Chipman Jr Donald ...
Physician
Interventional Rehabilitation
Medical Clinic
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FAQs
What type of property is this?
Office building - Two-story Pensacola office building near hospitals and I-10.
Where is this office building located?
The property is located at 510 Corday St Pensacola, FL.
What is the asking price?
The asking price for this property is $1,090,000.
What are key features of this property?
This property features: Prime location with immediate access to I‑10, providing excellent regional connectivity.; Close proximity to Baptist Hospital and Ascension Sacred Heart Hospital, ideal for medical or professional tenants.; Versatile 4,616 SF two‑story building constructed in 2000, suitable for single or multi‑department use.
