Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    1000 Michigan Ave Pensacola, FL 32505-2320
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1000 Michigan Ave Pensacola, FL 32505-2320

    View on Map
    • Office buildings
    • 3,506 SF
    • 0.61 lot acres
    Off-Market
    Last Sale Jun 22, 2023
    $365,000
    Property ID
    US18-0375069
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Strikeforce School Of Shorite kung’Fu / Gym & Fitness Center
    • U-Haul Neighborhood Dealer / Car Rental Facility
    • Salinas Technologies Inc / (Bike/Boat/Book/etc) Store / Corporate Office
    • One Way Up Services LLC / Advertising Agency / Marketing & Advertising
    • Liberty National / Insurance Agency

    Property Details for 1000 Michigan Ave

    Year built
    1979
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.61 lot acres
    Property size
    3,506 SF
    Zone code
    HDMU
    Property type
    Office buildings
    APN
    52-1S-30-2002-000-000
    APU
    521S302002000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    County
    Escambia
    State
    Florida
    Longitude
    -87.269
    Latitude
    30.4621
    CBSA code
    37860
    CBSA name
    PENSACOLA-FERRY PASS-BRENT, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,971
    $0.00
    $0.00
    $283,383
    -
    $72,401
    $210,982
    $283,383

    Comparable in this City

    • Value Estimation
      $1,085,000
      5,541 SF

      5115 Palafox St

      PROFESSIONAL BUILDING • 5,541 SF
      5115 Palafox St, Pensacola, FL 32505-2932
      View Details
    • Value Estimation by Request
      1,125 SF

      3327 St

      OFFICE BUILDING • 1,125 SF
      3327 St, Pensacola, FL 32505-3952
      View Details
    • Value Estimation by Request
      1,986 SF

      3475 Ns St

      OFFICE BUILDING • 1,986 SF
      3475 Ns St, Pensacola, FL 32505-4126
      View Details
    • Value Estimation by Request
      1,950 SF

      940 Massachusetts Ave, Unit 1

      OFFICE BUILDING • 1,950 SF
      940 Massachusetts Ave, Pensacola, FL 32505-3803
      View Details
    • Value Estimation by Request
      2,100 SF

      525 Michigan Ave

      OFFICE BUILDING • 2,100 SF
      525 Michigan Ave, Pensacola, FL 32505-2412
      View Details
    • Value Estimation by Request
      1,806 SF

      105 Beverly Pkwy

      OFFICE BUILDING • 1,806 SF
      105 Beverly Pkwy, Pensacola, FL 32505-2815
      View Details

    Similar Nearby for Sale

    • $550,000
      2,883 SF

      Immaculate Pensacola Office Building

      Modern 2,145 SF office, ½ acre lot, $550,000
      3407 N L St, Pensacola, FL 32505
      View Details
    • $2,200,000
      14,476 SF

      Pensacola Office Building For Sale

      Prime Pensacola Office Space - Ready to Occupy
      6451 N W St, Pensacola, FL 32505
      View Details
    • Contact for pricing
      2,145 SF

      Renovated Office Building with Storage

      Completely renovated office building with outdoor storage and parking.
      3407 N L St, Pensacola, FL 32505
      View Details
    • $400,000
      2,520 SF

      Pensacola Office Building For Sale

      2,520 sq ft office building suitable for medical or professional use.
      1500 N Pace Blvd, Pensacola, FL 32505
      View Details
    • Contact for pricing
      36,665 SF

      Pensacola Distribution Building For Sale

      Class A distribution building with office and warehouse space.
      6020 Enterprise Dr, Pensacola, FL 32505
      View Details
    • $599,000
      3,840 SF

      Prime Pensacola Retail/Office Space

      Renovated freestanding building; excellent visibility & parking.
      3391 N Pace Blvd, Pensacola, FL 32505
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      1,100 SF

      Pensacola Executive Office Suite

      Prime Location, 1100 SF Office Space
      3105 North T Street, Pensacola, FL 32505
      View Details
    • $13 SF/Yr
      1,880 SF

      Renovated Freestanding Office Building

      Renovated office building with excellent parking and high traffic frontage.
      2965 W Navy Blvd, Pensacola, FL 32505
      View Details
    • Contact for pricing
      10,160 SF

      Large Office Building For Rent

      Large office building with ample parking near I-10.
      6425 Pensacola Blvd, Pensacola, FL 32505
      View Details
    • $13 SF/Yr
      1,334 SF

      Pensacola Office/Retail Space Available

      Modern 1334 SF space, Pace Blvd proximity.
      2101 Town St, Pensacola, FL 32505
      View Details
    • $20 SF/Yr
      3,600 SF

      Prime Commercial Space For Lease

      Office/retail space with high visibility on a busy commercial corridor.
      275 W Airport Blvd, Pensacola, FL 32505
      View Details
    • Contact for pricing
      9,000 SF

      Move-in Ready Office/Warehouse Space

      Office/warehouse space with insulated warehouse, mezzanine, and additional conditioned space.
      410 W Herman St, Pensacola, FL 32505
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1000 Michigan Ave
    Pensacola, FL 32505-2320
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!