Spacious Office Building Near
For Sale
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900 Garden Gate Cir, Pensacola, FL 32504
Well-planned office building with high-end finishes near hospitals.
Property Size3,800 SF
Price / SF$250
Days on Market890
Property Features for 900 Garden Gate Cir
General Information
Standard status
Active
Size
3,800 SF
Class
A
Total Parking Spaces
17
Property subtype
Office
Zoning
R - 2
Occupancy
100%
Building Details
Year Built
1998
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Connell & Company
Listed By:
Theo Baars · License #FL 3236746
(850) 478-4141
Source:
Crexi
Added: May 29, 2024
Changed: Nov 3
Last Checked: Nov 4 at 1:51PM
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 Connell & Company
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Investment Insights
Based on property information with market context.
This well-maintained, spacious office building features high-end finishes and is conveniently located near hospitals and the international airport, with accessibility to major thoroughfares and proximity to an I-110 interchange (approximately one half-mile). The 3,800 square foot building includes six 15' x 15' offices, each featuring 9' ceilings, custom built-in bookshelves, and a window to the outside. The layout comprises a large waiting area with vaulted ceilings rising to 14', a spacious conference room/meeting space, four ADA-compliant bathrooms, a large administrative space including an office manager's office, a kitchen, and a walk-in storage closet. Interior flooring consists of commercial-grade, noise-dampening carpeting in the offices and hallways, with tile in the waiting room, kitchen, and wet areas. The interior doors are solid core with high-end hardware. The exterior is nicely appointed with a wide roof overhang covering a 5' sidewalk around the building. The water heater was replaced in 2017, the roof in 2019, and both AC units have been replaced since 2019. The commercial-grade carpet was replaced in 2021. A security system and an irrigation system are in place.
Key Highlights
- Convenient location near hospitals, international airport, and I‑110 interchange.
- Six private offices (15' x 15') feature 9' ceilings, built‑in bookshelves, and windows.
- Spacious conference room/meeting space and large admin area with office manager's office.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,087
Cap Rate
6.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,281,740
$1.3M
Cap Rate 7%
$915,529
$915.5K
Cap Rate 9%
$712,078
$712.1K
Market Conditions
NOI Build-Up for 3,800 SF
Gross rent
$95.3K $25.08/SF
− Vacancy
−$9.9K −$2.59/SF
EGI
$85.4K $22.49/SF
− OpEx
−$21.4K −$5.62/SF
NOI
$64.1K $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 Rate 5%
$1,281,740
Cap Rate 7%
$915,529
Cap Rate 9%
$712,078
Alternative Uses
Best Use
Office B
$915.5K
$801.1K – $1.07M
NOI $64,087 @ 7.0% cap · market cap 6.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$975.8K – $1.30M
NOI $78,067 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,971
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Well-planned office building with high-end finishes near hospitals.
Where is this office building located?
The property is located at 900 Garden Gate Cir Pensacola, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Convenient location near hospitals, international airport, and I‑110 interchange.; Six private offices (15' x 15') feature 9' ceilings, built‑in bookshelves, and windows.; Spacious conference room/meeting space and large admin area with office manager's office.
