Freestanding Medical Office
For Sale
Contact for pricing
907 Gardengate Circle, Pensacola, FL 32504
Configured with clinical rooms, laboratory space, a surgery room, and an employee kitchen.
Property Size2,800 SF
Price / SF$249.64
Days on Market10
Property Features for 907 Gardengate Circle
General Information
Standard status
Active
Size
2,800 SF
Property subtype
OFFICE
Building Details
Buildings
1
Listing Agency:
Neal & Company, LLC
(850) 444-9994
Listed By:
Robert "Beau" Vignes
(850) 776-5354
Source:
Moodyscre
Added: Sep 8
Changed: Sep 14
Last Checked: Sep 16 at 9:05PM
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 2,800-square-foot medical office property provides a purpose-built clinical layout within a freestanding building. The interior includes a patient waiting area, two doctors’ offices, four exam rooms, a laboratory, a surgery room, and an employee kitchen.
The property is located at 907 Gardengate Circle in Pensacola, Florida, with approximately 70 feet of frontage along Airport Blvd. The corridor records 36,000 daily traffic, providing measurable exposure for the practice-oriented facility.
The property is located at 907 Gardengate Circle in Pensacola, Florida, with approximately 70 feet of frontage along Airport Blvd. The corridor records 36,000 daily traffic, providing measurable exposure for the practice-oriented facility.
Key Highlights
- 2,800‑square‑foot freestanding medical office building
- Two doctors’ offices and four exam rooms
- Dedicated laboratory and surgery room
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
$47,222
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
6.76%
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%
$944,440
$944.4K
Cap Rate 7%
$674,600
$674.6K
Cap Rate 9%
$524,689
$524.7K
Market Conditions
NOI Build-Up for 2,800 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
$70.2K $25.08/SF
− Vacancy
−$7.3K −$2.59/SF
EGI
$63.0K $22.49/SF
− OpEx
−$15.7K −$5.62/SF
NOI
$47.2K $16.87/SF
Area
Escambia County, FL
Vacancy
10.34%
Lease Rate
$25.08 /SF/Yr
Expense Ratio
25.00%
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%
$944,440
Cap Rate 7%
$674,600
Cap Rate 9%
$524,689
Alternative Uses
Best Use
Office B
$674.6K
$590.3K – $787.0K
NOI $47,222 @ 7.0% cap · market cap 6.76%
Second Best
Healthcare Medical
$539.7K
$472.2K – $629.6K
NOI $37,778 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$821.8K
$719.0K – $958.7K
NOI $57,523 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,971
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32504, FL
21,791
Population
10,436
Households
2.1
Avg Household Size
43
Median Age
41%
College-Educated
92%
High-School Grad
10.5 sq mi
ZIP Area
2,075
Density / Sq Mi
$74,067
Median Household Income
$41,990
Median Earnings
$1,257
Median Rent
$242,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Configured with clinical rooms, laboratory space, a surgery room, and an employee kitchen.
Where is this medical office space located?
The property is located at 907 Gardengate Circle Pensacola, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 2,800‑square‑foot freestanding medical office building; Two doctors’ offices and four exam rooms; Dedicated laboratory and surgery room
