Pensacola Office Building For
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511 Phyllis St, Pensacola, FL
Well-maintained 3,524 SF office building in thriving Pensacola, Florida.
Property Size3,524 SF
Lot Size0.47 Acres
Price / SF$255.11
Days on Market272
Property Features for 511 Phyllis St
General Information
Standard status
Active
Size
3,524 SF
Lot size
0.47 Acres
Property subtype
OFFICE
Properties For Sale
at 511 Phyllis St Contact us- Size
- 3,524 SF
- Type
- OFFICE
- Lease Type
- NNN
- Availability
- AVAILABLE, 90 Days
- Sublease
- No
3,524 SF single-story Class B office building
Position your business in this highly functional 3,524 SF single-story Class B office...
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Listing Agency:
Bellcore Commercial LLC
(850) 232-2587
Listed By:
Robert Bell · License #SL3538931
(850) 232-2587
Source:
Moodyscre
Added: Nov 13, 2025
Changed: Aug 8
Last Checked: Aug 8 at 4:58AM
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.
This well-maintained 3,524 SF Class B office building is situated in Pensacola, Florida, and offers an opportunity for an owner-user or investor. The single-story facility is located on a 0.466-acre parcel. The layout is functional and suited for professional, administrative, or medical office use. The property is located minutes from Baptist Hospital, Ascension Sacred Heart Hospital, and Interstate I-10, offering accessibility and visibility in Pensacola’s commercial corridor.
Key Highlights
- Prime location minutes from Baptist Hospital, Ascension Sacred Heart Hospital, and Interstate I‑10.
- Well‑maintained 3,524 SF Class B office building.
- Ideal for owner‑user or investor.
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
$59,432
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
6.61%
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%
$1,188,640
$1.2M
Cap Rate 7%
$849,029
$849.0K
Cap Rate 9%
$660,356
$660.4K
Market Conditions
NOI Build-Up for 3,524 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
$88.4K $25.08/SF
− Vacancy
−$9.1K −$2.59/SF
EGI
$79.2K $22.49/SF
− OpEx
−$19.8K −$5.62/SF
NOI
$59.4K $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%
$1,188,640
Cap Rate 7%
$849,029
Cap Rate 9%
$660,356
Alternative Uses
Best Use
Office B
$849.0K
$742.9K – $990.5K
NOI $59,432 @ 7.0% cap · market cap 6.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$905.0K – $1.21M
NOI $72,397 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,620
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Well-maintained 3,524 SF office building in thriving Pensacola, Florida.
Where is this office building located?
The property is located at 511 Phyllis St Pensacola, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Prime location minutes from Baptist Hospital, Ascension Sacred Heart Hospital, and Interstate I‑10.; Well‑maintained **3,524 SF Class B office building**.; Ideal for owner‑user or investor.
