Medical Office Near Pensacola
710 Underwood Ave Pensacola, FL
710 Underwood Ave, Pensacola, FL, 00000
Contact for pricing
For Sale
Contact for pricing
Operating primary care office with attractive finishes and spacious layout.
Property Size4,186 SF
Lot Size0.34 Acres
Price / SF$166.03
Days on Market445
Property Features for 710 Underwood Ave
General Information
- Standard status
- Active
- Size
- 4,186 SF
- Lot size
- 0.34 Acres
- Property subtype
- OFFICE
Listing Agency
Neal & Company, LLC
(850) 287-0871
Listed by
Donald Neal, CCIM, SIOR
(850) 287-0871
Source
Moodyscre
Added: Apr 29, 2025 Checked: Jul 17 at 2:41 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 Neal & Company, LLC
Investment Insights
Based on property information with market context.
This 4,186 square foot building is currently operating as a primary care physician’s office. The property is located across from Pensacola State College, just off Ninth Avenue. The interior features attractive finishes, and the building has a new roof. The layout includes 3,198 square feet of medical office space, plus 988 square feet of unfinished space upstairs. The configuration includes five to six exam rooms, a reception area, four offices, and three restrooms. There are 18 or more parking spaces available. The property is accessible via the traffic light at 9th Avenue and Underwood Avenue, with signage visible from 9th Avenue. The spacious layout could also work for a medical spa, wellness clinic, or other office uses. The property is zoned R-2A by the City of Pensacola.
Key Highlights
- Currently operating medical office with attractive interior finishes and a new roof.
- Located across from Pensacola State College with easy access via traffic light and visible signage from 9th Avenue.
- Spacious 4,186 SF building including 3,198 SF medical office space plus 988 SF unfinished upstairs space.
Local Financial Insights For Healthcare Medical
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 | $105.0k | $25.08 |
| − Vacancy | −$10.9k | −$2.59 |
| EGI | $94.1k | $22.49 |
| − OpEx | −$37.7k | −$8.99 |
| NOI | $56.5k | $13.49 |
4,186 SF · lease $25.08/SF/yr · vacancy 10.34% · expense 40.00%
Alternative Uses
Best Use
Office B
$1.01M
$882.5K – $1.18M
NOI $70,597 @ 7.0% cap · market cap 10.16%
Second Best
Healthcare Medical
$806.8K
$706.0K – $941.3K
NOI $56,478 @ 7.0% cap · market cap 8.13%
Theoretical Best
Office A
$1.23M
$1.07M – $1.43M
NOI $85,997 @ 7.0% cap · market cap 12.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
RW Lucey MD
Physician
Hormone Wizard
Medical Clinic
Similar For Sale Nearby
Similar Off Market Nearby
- Coastal Sunrise Animal Hospital — 6209 N 9th Ave, Pensacola, FL 32504
- Luciane Vetori M. Brown, PAC — 5149 n 9th ave, pensacola, fl 32504
FAQs
What type of property is this?
Medical Office Space - Operating primary care office with attractive finishes and spacious layout.
Where is this medical office space located?
The property is located at 710 Underwood Ave Pensacola, FL.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Currently operating medical office with attractive interior finishes and a new roof.; Located across from Pensacola State College with easy access via traffic light and visible signage from 9th Avenue.; Spacious 4,186 SF building including **3,198 SF medical office space plus 988 SF unfinished upstairs space.**
