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Property profile & analytics
OFF-MARKET
Estimated value
$2,545,000
Assisted living facilities
1012 72nd Ave, Pensacola, FL 32506-3810
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-3721603
Property summary
AI-generated overview
This exceptional 55-bed assisted living facility (ALF) presents a compelling investment opportunity in Pensacola, Florida. Located at 1012 N 72nd Ave, this single-story, 17,569 square foot building sits on a 4.87-acre lot (APN: 112S312117000000) and boasts a 12% cap rate with a current NOI of $446,510. Built in 1988 and renovated in 2006, the property is zoned HDR and features 65 licensed units, currently housing 46 residents. The facility includes a fully equipped commercial kitchen, and is licensed for both ALF and limited mental care. Significant upside potential exists due to below-market rents and current vacancies. Approximately half the land remains undeveloped, offering substantial room for expansion. Outdoor amenities include a gazebo, putting green, and ample space for resident walks. The property benefits from a relatively new metal roof, newer air conditioning units, and two gas-powered generators. A comprehensive fire sprinkler system is installed throughout the building. This quiet location offers a peaceful environment with no nearby commercial uses. The property is shown by appointment only
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1988
Construction
WOOD
Total area
18,189 SF
Lot
2.19 ac (95,396 SF)
Zoning code
HDR
APN
11-2S-31-2117-000-000
UPID
US18-3721603
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Emerald Gardens Nursing Home Retirement Community
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.65M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.43M
Blend (final)
Blend
$2.55M
Owner & transaction history
Emerald Gardens Property LLC · 3 yrs held
Emerald Gardens Property LLC
since 2023
Last sale
$3.1M
7 recorded transactions
Zoning & alternative use
HDR · Pensacola, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Pensacola submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pensacola submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,555,000
ML approach
$2,645,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$3,555,000
Current use
Blend value · Realmo final
$2.55M
Range $2.29M – $2.80M · ±10% · vs last sale $3.10M (May 16 2023)
Last sale anchor
$3.10M
May 16 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$140 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$19,293
Tax year 2023
Assessed value
$1,384,795
Assessed 2023
Previous assessed
$1,337,176
+3.6% YoY
Effective rate
1.39%
On assessed value
Assessed land
$45,000
Assessed improvement
$1,339,795
Land market value
$45,000
Improvement market value
$1,339,795
Total market value
$1,384,795
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1988
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
69
Bathrooms
7
Total area
18,189 SF
Lot
2.19 ac (95,396 SF)
Zoning code
HDR
APN
11-2S-31-2117-000-000
UPID
US18-3721603
Jurisdiction
ESCAMBIA
Zoning & alternative use
HDR · Pensacola, FL
Zoning HDR · permitted uses
HDR · Pensacola, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Pensacola. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$3.6M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1988
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
69
Bathrooms
7
Lot
2.19 ac
Current owner
From public records · entity-resolved
Emerald Gardens Property LLC
Entity
Mailing address
300 TICE BLVD #179, WOODCLIFF LAKE, NJ 07677-8406
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 16, 2023
$3,100,000
Emerald Gardens Property LLC
Emerald Gardens Properties LLC
Special Warranty Deed
$2,170,000 · Inb National Association
Aug 13, 2021
—
Lyman Woodruff
Ten D Thompson
Affidavit Of Death Of Joint Tenant
—
Dec 31, 2008
$790,700
Emerald Gardens Properties LLC
Sec Investment Properties LLC
Grant Deed
$1,690,700 · First National Bank
Jul 8, 2004
$1,006,433
Sec Investments Properties LLC
Three Oaks Corp
Trustees Deed
—
Jul 8, 2004
—
Sec Investments Properties LLC
—
Deed Of Trust
related
$1,014,574 · First National Bank Atmore
—
—
Three Oaks Corp
—
Deed Of Trust
related
$75,000 · Peoples First Community Bank
—
—
Three Oaks Corp
—
Deed Of Trust
related
$30,185 · First National Bank Atmore
—
—
Emerald Gardens Properties LLC
—
Deed Of Trust
related
$1,707,552 · First National Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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