Automotive Assemblage with Multiple
For Sale
Contact for pricing
5506 North W Street, Pensacola, FL 32505
Three connected parcels support vehicle display, storage, parking, and related commercial operations along two prominent avenues.
Property Size2,072 SF
Price / SF$313.71
Days on Market194
Property Features for 5506 North W Street
General Information
Standard status
Active
Size
2,072 SF
Property subtype
Retail
Zoning
HCLI / HDMU
Occupancy
100%
Investment Type
Owner/User
Site & Location
Road Access
Yes
Outdoor Storage
Yes
Amenities
commercial lighting
palm tree landscaping
large oak trees
multiple access drives
attractive site improvements
Building Details
Year Built
1956
Buildings
2
Listing Agency:
NAI Pensacola
Listed By:
DeeDee Davis · License #FL 3037624
(850) 430-1503
Source:
Crexi
Added: Apr 6
Changed: Oct 1
Last Checked: Oct 16 at 7:21AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This automotive commercial assemblage combines three connected parcels at the intersection of North W Street and W. Michigan Avenue in Pensacola. The property includes a 1,460-square-foot building, a 674-square-foot building, vacant land, commercial lighting, palm landscaping, mature oak trees, and outdoor areas for vehicle display, fleet parking, customer parking, storage, or day-to-day operations. Access is available from both roadways, with approximately 75 feet, 150 feet, and 104 feet of W Street or Michigan Avenue frontage across the parcels, plus approximately 190.6 feet along W. Michigan Avenue on the largest parcel.
The site is zoned HC/LI and HDMU across the three parcels. W Street carries approximately 27,000 cars per day, while Michigan Avenue carries approximately 37,000 cars per day. The property is connected to Pensacola Boulevard’s automotive-oriented corridor and sits near automotive dealerships, service providers, commercial users, and destination retailers.
The site is zoned HC/LI and HDMU across the three parcels. W Street carries approximately 27,000 cars per day, while Michigan Avenue carries approximately 37,000 cars per day. The property is connected to Pensacola Boulevard’s automotive-oriented corridor and sits near automotive dealerships, service providers, commercial users, and destination retailers.
Key Highlights
- Three connected parcels totaling approximately 1.3418 acres
- Approximately 27,000 cars per day on W Street and 37,000 on Michigan Avenue
- 1,460 SF and 674 SF buildings with outdoor display, parking, and storage areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,418
Cap Rate
3.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$468,360
$468.4K
Cap Rate 7%
$334,543
$334.5K
Cap Rate 9%
$260,200
$260.2K
Market Conditions
NOI Build-Up for 2,072 SF
Gross rent
$37.3K $18.00/SF
− Vacancy
−$3.8K −$1.85/SF
EGI
$33.5K $16.15/SF
− OpEx
−$10.0K −$4.84/SF
NOI
$23.4K $11.30/SF
Area
Escambia County, FL
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$468,360
Cap Rate 7%
$334,543
Cap Rate 9%
$260,200
Alternative Uses
Best Use
Retail
$334.5K
$292.7K – $390.3K
NOI $23,418 @ 7.0% cap · market cap 3.60%
Second Best
Industrial
$166.9K
$146.0K – $194.7K
NOI $11,683 @ 7.0% cap · market cap 1.80%
Theoretical Best
Office A
$608.1K
$532.1K – $709.5K
NOI $42,567 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
375
Businesses Nearby
8k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
4,570 visits/mo
0.5 miles
Family Dollar
Shops & Services
3,205 visits/mo
0.5 miles
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 Retail in South region
Similar Off Market Nearby
- U-Haul Neighborhood Dealer — 6704 US-98, Pensacola, FL 32506
Frequently Asked Questions
What type of property is this?
Automotive property - Three connected parcels support vehicle display, storage, parking, and related commercial operations along two prominent avenues.
Where is this automotive property located?
The property is located at 5506 North W Street Pensacola, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Three connected parcels totaling approximately 1.3418 acres; Approximately 27,000 cars per day on W Street and 37,000 on Michigan Avenue; 1,460 SF and 674 SF buildings with outdoor display, parking, and storage areas
