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    Restaurant Space on Pensacola Boulevard Title is generated by Realmo AI

    6707 Pensacola Blvd, Pensacola, FL 32505

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    Vacant restaurant space with kitchen and dining areas available for lease.

    Type:Retail, Restaurant
    Added:
    Feb 26, 2024
    Days on Market:
    824
    Last Refresh:
    May 12 at 9:04 pm

    Property Features for 6707 Pensacola Blvd

    General Information

    Standard status
    Active
    Property subtype
    Retail, Restaurant

    Building Details

    Year Built
    1984

    Spaces For Lease

    at 6707 Pensacola Blvd Contact us

    $25/Mo

    Size
    4,950 SF
    Type
    Retail, Restaurant
    Contact us

    We can help!

    Listing Contact
    Elijah Alexander

    Listing agent Elijah Alexander License ##SL3451232

    Listing office FMIG

    Listing date Feb 26, 2024

    Source Crexi

    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

    HighLights

    • Excellent opportunity for a restaurant tenant‑user with existing full kitchen and two dining room areas.
    • Located on Pensacola Boulevard with high traffic volume (±39,000 VPD).
    • Located in a dense retail corridor with many national brand tenants.
    • Recently updated interior with new appliances added in June 2020.
    • Includes easements onto neighboring lots for Splash City Adventures and AMC Classic Theatres.
    • Past tenant left limited FF&E (furniture, fixtures, and equipment) included in the purchase.

    Overview

    This vacant property presents an opportunity for a tenant, particularly for restaurant purposes, as indicated by its RESTAURANT,CAFETERIA use code. The property features a full kitchen with functional equipment and two dining room areas. Limited FF&E from the previous tenant is included. The interior was recently updated with new appliances added in June 2020. The property is situated along Pensacola Boulevard, which experiences a traffic volume of approximately 39,000 vehicles per day. Easements onto neighboring lots for Splash City Adventures and AMC Classic theatres are included. The location is within a dense retail corridor with neighboring tenants such as Waffle House, McDonald’s, Smokey’s BBQ, Captain D’s, AMC Classic Theatre’s, Pizza Hut, and Whataburger. Lease terms are negotiable. The listed amount of $10,312 is based on $25 per square foot. The deposit is based on three months of rent, depending on the negotiated lease.
    Property Profile Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Nail Salon Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    County
    Escambia
    State
    Florida
    Longitude
    -87.2604047
    Latitude
    30.4885751

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    FAQs

    What type of property is this?
    Restaurant - Vacant restaurant space with kitchen and dining areas available for lease.
    Where is this restaurant located?
    The property is located at 6707 Pensacola Blvd Pensacola, FL.
    What is the lease rate?
    The lease rate is $300 /Mo.
    What are key features of this property?
    This property features: Excellent opportunity for a restaurant tenant‑user with existing full kitchen and two dining room areas.; Located on Pensacola Boulevard with high traffic volume (±39,000 VPD).; Located in a dense retail corridor with many national brand tenants.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Elijah Alexander
    Real Estate License ID: #SL3451232
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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