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    The Largest CRE Database in the US with Over 1 Million Listings

    1614 Garden St Pensacola, FL 32502

    Sponsored
    For Sale
    $695,000

    Pensacola Commercial Land - $695,000

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    409
    This exceptional 0.792-acre commercial land parcel, located at 1614 W Garden St in Pensacola, Florida (APN: 000S009080080046), presents a unique investment opportunity. Zoned C-3, this property boasts unparalleled visibility and accessibility, benefiting from access from three streets: Garden Street, I Street, and J Street. Its strategic location just west of downtown Pensacola ensures high traffic volume and exposure for any business. The property's versatility makes it suitable for a variety of retail or industrial uses. Features include four roll-up doors facing two different streets, maximizing loading and unloading efficiency. A convenient car canopy is situated on the east side of the building, providing additional covered space. This prime location offers significant potential for growth and return on investment, making it an attractive proposition for discerning buyers seeking a well-positioned commercial property in a thriving Florida market. The asking price is $695,000. This Escambia County property is ready for immediate development or lease. The property's size and zoning provide ample opportunity for a variety of commercial ventures. Don't miss this chance to acquire a highly visible and accessible commercial property in a desirable Pensacola location.

    Property Features for 1614 Garden St

    General Information

    Property type
    Land
    Lot Size
    34,500 SF

    We can help!

    Listing Contact
    Michael Carro
    Michael Carro

    Learn more

    Property Insight Report

    HighLights

    • High‑traffic location with excellent street visibility.
    • Multiple access points from three streets.
    • C‑3 zoning.
    • Two roll‑up doors providing convenient street access.
    • Covered parking canopy on the east side.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bee-Line Alignment Services ... Auto Repair Shop

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    County
    Escambia
    State
    Florida
    Longitude
    -87.2355407
    Latitude
    30.4121259

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    FAQs

    What type of property is this?
    Land - Pensacola Commercial Land - $695,000
    Where is this land located?
    The property is located at 1614 Garden St Pensacola, FL.
    What is the asking price?
    The asking price for this property is $695,000.
    What are key features of this property?
    This property features: High-traffic location with excellent street visibility.; Multiple access points from three streets.; C-3 zoning.
    (850) 434-7500
    Request Owner's contact information
    1614 Garden St Pensacola, FL 32502
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    Pensacola, FL 32502
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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.

    More about this property
    1614 Garden St Pensacola, FL 32502
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    We can help!
    Listing Contact
    Michael Carro
    Michael Carro
    Real Estate License ID: AL 000093777
    (850) 434-7500
    Learn more
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