Commercial Real Estate Market in Pensacola, FL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
343 active listings and 9,908 off-market properties in Pensacola, FL. Commercial property asks $212/SF to buy and $15.63/SF/Yr to lease.
Market Trends
Pensacola, FL spans 197.9 square miles in Escambia County, Florida. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Pensacola, FL has a median asking sale price of $248/SF. Vacancy runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Typical asking range for active listings in Pensacola, FL (the middle half): Lease $20.00–$30.00/SF/Yr (median $22.00/SF/Yr, 17 listings); Sale $131–$290/SF (median $248/SF, 11 listings).
Retail
Retail space in Pensacola, FL has a median asking sale price of $236/SF. Vacancy runs 5.4% across the South region in 2025, down from 7% in 2020.
Typical asking range for active listings in Pensacola, FL (the middle half): Lease $13.00–$23.00/SF/Yr (median $15.00/SF/Yr, 13 listings); Sale $103–$329/SF (median $236/SF, 26 listings).
Industrial
Industrial space in Pensacola, FL has a median asking sale price of $83/SF (based on 9 listings). Vacancy runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Typical asking range for active listings in Pensacola, FL (the middle half): Lease $8.50–$10.38/SF/Yr (median $9.00/SF/Yr, 10 listings); Sale $64.66–$164/SF (median $83.24/SF, 9 listings).
Multifamily
Multifamily space in Pensacola, FL has a median asking sale price of $184/SF. Vacancy runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Typical asking range for active listings in Pensacola, FL (the middle half): Sale $143–$282/SF (median $184/SF, 52 listings).
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 55.8%
- Industrial 18.3%
- Mixed use 15.4%
- Commercial 6.4%
- Open space 2.1%
- Planned_development 0.3%
- Special 0.1%
Largest Zones share of zoned land by district
Pensacola, FL zones 14,627 acres across 44 districts. Commercial zoning covers 6.4% of zoned land, residential 55.8%, open space 2.1% and industrial 18.3%. The largest single district is Single Family at 23.9%. For commercial buyers the practical constraint is that only 24.7% of land carries a commercial or industrial designation.
The low-density residential land use district is established for the purpose of providing and preserving areas of single-family, low intensity development at a maximum density of 4.8 dwelling units per acre in areas deemed suitable because of compatibility with existing development or the environmental character of the areas. The nature of the use of propert…
Market overview
Demographics & Economy
Pensacola, FL has 273,995 residents in 126,726 households. Density runs 1,385 people per square mile. Median household income here is $63,336 and median gross rent $1,258 a month.
Tools
Lease vs Buy Breakeven
At $15.63/SF/Yr lease vs $212/SF buy → buying wins if held > 2.8 years.
At a 7.4% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Frequently Asked Questions
What is the median price per square foot for commercial property in Pensacola?
How much does it cost to lease commercial space in Pensacola?
Is it cheaper to lease or buy commercial space in Pensacola?
What zoning applies to commercial property in Pensacola?
Where does Realmo's Pensacola market data come from?
Methodology & data sources
- Asking prices and medians
- There are 196 active for-sale and 147 active for-lease listings in Pensacola, FL. The medians are based on 99 of the for-sale and 42 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 14,627 zoned acres across 44 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 October 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 October 2026 · How Realmo checks market page data · Report a data issue
