Pensacola Commercial Property For
For Sale
$899,000
601 Bayou Boulevard, Pensacola, FL 32503
4,992 SF building in Pensacola, Florida, with C-2 zoning.
Property Size4,992 SF
Price / SF$180.09
Days on Market281
Property Features for 601 Bayou Boulevard
General Information
Standard status
Active
Size
4,992 SF
Property subtype
Special Purpose
Building Details
Building Size
4,992 SF
Year Built
1980
Listing Agency:
Bellcore Commercial LLC
(850) 232-2587
Listed By:
Robert Bell · License #FL #SL698346
(850) 232-2587
Source:
Bellcorecommercial
Added: Nov 21, 2025
Changed: Aug 22
Last Checked: Aug 29 at 7:16AM
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 601 Bayou Boulevard in Pensacola, Florida, this 4,992-square-foot building was constructed in 1980. The property is zoned C-2, allowing for a range of commercial uses including marina businesses, retail, hospitality, and office space. The location offers development and growth opportunities, benefiting from Pensacola’s coastal appeal and economic progress. Pensacola's Gulf Coast location has experienced recent growth, driven by population increases and median incomes. The area has a significant government presence, with over 23,000 military and civilian personnel at NAS Pensacola, approximately 25 minutes from the site, and Whiting Field Naval Base, roughly 35 minutes away. The property is near the main retail trade area, airport, hospital, Pensacola State College, University of West Florida, and tourist destinations such as Perdido Key, Pensacola Beach, Gulf Breeze, and Navarre Beach. The building is suited for special purpose or marina use, with potential for expansion and enhancements.
Key Highlights
- Prime location in Pensacola, Florida, experiencing high population growth and substantial median incomes.
- C‑2 zoning allows for diverse commercial uses including marina businesses, retail, hospitality, and office space.
- 4,992 SF building ideal for Special Purpose/Marina use.**
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
$56,421
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
6.28%
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%
$1,128,420
$1.1M
Cap Rate 7%
$806,014
$806.0K
Cap Rate 9%
$626,900
$626.9K
Market Conditions
NOI Build-Up for 4,992 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
$89.9K $18.00/SF
− Vacancy
−$9.3K −$1.85/SF
EGI
$80.6K $16.15/SF
− OpEx
−$24.2K −$4.84/SF
NOI
$56.4K $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 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%
$1,128,420
Cap Rate 7%
$806,014
Cap Rate 9%
$626,900
Alternative Uses
Best Use
Office B
$1.20M
$1.05M – $1.40M
NOI $84,190 @ 7.0% cap · market cap 9.36%
Second Best
Retail
$806.0K
$705.3K – $940.4K
NOI $56,421 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,556 @ 7.0% cap · market cap 11.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
326
Businesses Nearby
Explore this area
Business Placement
Demographics for 32503, FL
33,693
Population
14,419
Households
2.3
Avg Household Size
36
Median Age
41%
College-Educated
94%
High-School Grad
12.6 sq mi
ZIP Area
2,674
Density / Sq Mi
$67,654
Median Household Income
$32,077
Median Earnings
$1,226
Median Rent
$270,500
Median Home Value
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?
Retail space - 4,992 SF building in Pensacola, Florida, with C-2 zoning.
Where is this retail space located?
The property is located at 601 Bayou Boulevard 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 in Pensacola, Florida, experiencing high population growth and substantial median incomes.; C‑2 zoning allows for diverse commercial uses including marina businesses, retail, hospitality, and office space.; 4,992 SF building ideal for Special Purpose/Marina use.**
