New Retail Development on 9
For Sale
Contact for pricing
3811 W 9 Mile Rd, Pensacola, FL 32526
Under construction mixed-use development on high-traffic 9 Mile Road.
Property Size17,183 SF
Price / SF$218.24
Days on Market715
Property Features for 3811 W 9 Mile Rd
General Information
Standard status
Active
Size
17,183 SF
Class
A
Property subtype
Land, Mixed Use, Retail, Special Purpose
Zoning
COM
Investment Type
Institutional
Listing Agency:
FMIG
(850) 889-2571
Listed By:
Faith Morgan · License #Alabama 000162267
Source:
Crexi
Added: Sep 8, 2024
Changed: Aug 22
Last Checked: Aug 22 at 8:33AM
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 FMIG
Investment Insights
Based on property information with market context.
This mixed-use commercial development is currently under construction on 9 Mile Road in Pensacola, Florida. The site is strategically located less than 1 mile from Navy Federal Credit Union’s headquarters and the I-10 corridor, in a fast-growing residential and commercial hub. The development includes a 10,613 square foot daycare building, a 6,570 square foot UPOP convenience store, and a SHELL gas station with 12 pumps. The location benefits from high traffic, with 9 Mile Road boasting over 31,000 AADT (2022). Escambia County has surged to 329,996 residents (2024) with thousands of new residents arriving monthly. The property is adjacent to Fusion Fine Wine & Liquors, and close to The 52 Apartments and Evolve Apartments. It is also minutes from Sacred Heart Hospital, Baptist Health, Pensacola International Airport, and other major employers. The proposed construction start is Fall 2025. This property is suitable for 1031 exchange investors or long-term portfolio growth. Images are conceptual renderings and not representative of the final completed construction.
Key Highlights
- Prime location on 9 Mile Road with high traffic (31,000 AADT).
- New mixed‑use commercial development under construction: Daycare, Convenience Store, and Gas Station.
- Located less than 1 mile from Navy Federal Credit Union headquarters and I‑10.
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
$205,469
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
5.48%
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%
$4,109,380
$4.1M
Cap Rate 7%
$2,935,271
$2.9M
Cap Rate 9%
$2,282,989
$2.3M
Market Conditions
NOI Build-Up for 17,183 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
$299.0K $17.40/SF
− Vacancy
−$25.0K −$1.46/SF
EGI
$274.0K $15.94/SF
− OpEx
−$68.5K −$3.99/SF
NOI
$205.5K $11.96/SF
Area
Escambia County, FL
Vacancy
8.37%
Lease Rate
$17.40 /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%
$4,109,380
Cap Rate 7%
$2,935,271
Cap Rate 9%
$2,282,989
Alternative Uses
Best Use
Specialty Retail
$2.94M
$2.57M – $3.42M
NOI $205,469 @ 7.0% cap · market cap 5.48%
Second Best
Retail
$2.77M
$2.43M – $3.24M
NOI $194,206 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$5.04M
$4.41M – $5.88M
NOI $353,009 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Explore this area
Business Placement
Demographics for 32526, FL
43,029
Population
18,478
Households
2.3
Avg Household Size
41
Median Age
24%
College-Educated
93%
High-School Grad
58.4 sq mi
ZIP Area
737
Density / Sq Mi
$71,651
Median Household Income
$40,565
Median Earnings
$1,287
Median Rent
$230,400
Median Home Value
Market
Vacancy Rate% for Retail 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?
Gas station - Under construction mixed-use development on high-traffic 9 Mile Road.
Where is this gas station located?
The property is located at 3811 W 9 Mile Rd Pensacola, FL.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Prime location on 9 Mile Road with high traffic (31,000 AADT).; New mixed‑use commercial development under construction: Daycare, Convenience Store, and Gas Station.; Located less than 1 mile from Navy Federal Credit Union headquarters and I‑10.
