Warehouse with Office
For Sale
Contact for pricing
Pending
82 E Nine Mile Rd, Pensacola, FL 32534
Older warehouse and office on a HC/LI zoned site, suitable for service-based businesses and small storage.
Property Size1,741 SF
Days on Market78
Property Features for 82 E Nine Mile Rd
General Information
Standard status
Pending
Size
1,741 SF
Property subtype
Retail, Industrial, Land
Zoning
HC/LI
Investment Type
Value Add
Additional Details
Road Access
Yes
Building Details
Year Built
1976
Stories
1
Listing Agency:
Levin Rinke Realty
Listed By:
Darina Ivanova · License #FL 3442366
(850) 602-1635
Source:
Crexi
Added: Jun 19
Changed: Aug 8
Last Checked: Jul 25 at 11:51AM
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 Levin Rinke Realty
Investment Insights
Based on property information with market context.
This for-sale property includes an older warehouse and an office area that are in need of renovation. The site is zoned HC/LI and is configured to support warehouse and service-oriented operations.
The property is located on Nine Mile Rd and is described as offering strong visibility and traffic counts, which can support customer-facing and light commercial uses.
As noted in the remarks, the property may be a fit for a tire shop, mechanic shop, small warehouse, or other service-based business seeking a value-add renovation opportunity in a high-demand commercial corridor.
The property is located on Nine Mile Rd and is described as offering strong visibility and traffic counts, which can support customer-facing and light commercial uses.
As noted in the remarks, the property may be a fit for a tire shop, mechanic shop, small warehouse, or other service-based business seeking a value-add renovation opportunity in a high-demand commercial corridor.
Key Highlights
- HC/LI zoned commercial property on Nine Mile Rd
- Older warehouse and office on site, built in 1976
- Warehouse and office are in need of renovation
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
$13,295
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
8.86%
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%
$265,900
$265.9K
Cap Rate 7%
$189,929
$189.9K
Cap Rate 9%
$147,722
$147.7K
Market Conditions
NOI Build-Up for 1,741 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
$17.3K $9.96/SF
− Vacancy
−$1.7K −$0.98/SF
EGI
$15.6K $8.98/SF
− OpEx
−$2.3K −$1.35/SF
NOI
$13.3K $7.64/SF
Area
Escambia County, FL
Vacancy
9.80%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
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%
$265,900
Cap Rate 7%
$189,929
Cap Rate 9%
$147,722
Alternative Uses
Best Use
Office B
$419.5K
$367.0K – $489.4K
NOI $29,362 @ 7.0% cap · market cap 19.57%
Second Best
Retail
$281.1K
$246.0K – $328.0K
NOI $19,677 @ 7.0% cap · market cap 13.12%
Theoretical Best
Office A
$511.0K
$447.1K – $596.1K
NOI $35,767 @ 7.0% cap · market cap 23.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
736
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32534, FL
16,006
Population
7,573
Households
2.1
Avg Household Size
39
Median Age
22%
College-Educated
92%
High-School Grad
9.9 sq mi
ZIP Area
1,617
Density / Sq Mi
$59,013
Median Household Income
$34,841
Median Earnings
$1,350
Median Rent
$192,500
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.
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- Coleman American Moving Services, Inc. — 10020 N Palafox St, Pensacola, FL 32505
Frequently Asked Questions
What type of property is this?
Warehouse - Older warehouse and office on a HC/LI zoned site, suitable for service-based businesses and small storage.
Where is this warehouse located?
The property is located at 82 E Nine Mile Rd Pensacola, FL.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: HC/LI zoned commercial property on Nine Mile Rd; Older warehouse and office on site, built in 1976; Warehouse and office are in need of renovation
