Vacant Restaurant on Pensacola
For Sale
$2,000,000
6707 Pensacola Blvd, Pensacola, FL 32505
4,950 SF Vacant Restaurant, Updated Interior
Property Size4,950 SF
Price / SF$404.04
Days on Market185
Property Features for 6707 Pensacola Blvd
General Information
Standard status
Active
Property type
Mixed-use properties
Size
4,950 SF
Class
C
Building Details
Year Built
1984
Year Renovated
2020
Listing Agency:
FMIG
(850) 889-2571
Listed By:
Faith · License #BK3551079
(850) 889-2571
Added: Feb 25
Changed: Apr 8
Investment Insights
Based on property information with market context.
This 4,950 square foot vacant restaurant building is located on Pensacola Boulevard, a high-traffic area with approximately 39,000 vehicles per day. The property offers visibility and accessibility. Constructed in 1984 and renovated in 2020, the two-story building features a full kitchen with functional equipment and two dining areas. The building includes approximately 4,300 square feet of base area, 650 square feet of average office space, 156 square feet of finished open porch, and 650 square feet of finished utility space. The interior has recently updated appliances. Limited existing furniture, fixtures, and equipment are included in the sale. The building's construction includes brick-face veneer exterior walls, tile flooring, a slab-on-grade foundation, central HVAC, and a metal/modular roof. The property also includes easements to neighboring Splash City Adventures and AMC Classic Theatres. The property features asphalt pavement, concrete walks, and a vinyl fence. The property's zoning allows for restaurant use. The location benefits from a dense retail corridor with numerous national brand neighbors, including Waffle House, McDonald's, Smokey's BBQ, Captain D's, AMC Classic Theatres, Pizza Hut, and Whataburger. The high volume of traffic from nearby dealerships, including Hill-Kelley Dodge Chrysler Jeep Ram, enhances the property's potential.
Key Highlights
- 4,950 SF vacant restaurant building on high‑traffic Pensacola Boulevard (approx. 39,000 VPD), offering excellent visibility and accessibility.
- Includes limited FF&E; recently updated interior with new appliances. Building features a full kitchen, two dining areas, brick‑face veneer exterior, tile flooring, and central HVAC.
- Two‑story building (4,300 SF base area, 650 SF office, 156 SF porch, 650 SF utility space) with asphalt pavement, concrete walks, and vinyl fence. Built in 1984, renovated in 2020.
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
$58,806
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
2.94%
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%
$1,176,120
$1.2M
Cap Rate 7%
$840,086
$840.1K
Cap Rate 9%
$653,400
$653.4K
Market Conditions
NOI Build-Up for 4,950 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
$106.9K $21.60/SF
− Vacancy
−$12.8K −$2.59/SF
EGI
$94.1K $19.01/SF
− OpEx
−$35.3K −$7.13/SF
NOI
$58.8K $11.88/SF
Area
Escambia County, FL
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,176,120
Cap Rate 7%
$840,086
Cap Rate 9%
$653,400
Alternative Uses
Best Use
Mixed Use
$840.1K
$735.1K – $980.1K
NOI $58,806 @ 7.0% cap · market cap 2.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,693 @ 7.0% cap · market cap 5.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
375
Businesses Nearby
Explore this area
Business Placement
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 4,950 SF Vacant Restaurant, Updated Interior
Where is this mixed-use property located?
The property is located at 6707 Pensacola Blvd Pensacola, FL.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 4,950 SF vacant restaurant building on high‑traffic Pensacola Boulevard (approx. 39,000 VPD), offering excellent visibility and accessibility.; Includes limited FF&E; recently updated interior with new appliances. Building features a full kitchen, two dining areas, brick‑face veneer exterior, tile flooring, and central HVAC.; Two‑story building (4,300 SF base area, 650 SF office, 156 SF porch, 650 SF utility space) with asphalt pavement, concrete walks, and vinyl fence. Built in 1984, renovated in 2020.
