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    Property profile & analytics

    10457 Sorrento Rd Pensacola, FL 32507-7618

    • Turn key restaurants
    • 1,664 SF
    • 0.52 lot acres
    OFF-MARKET
    Value Estimations
    $595,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-6254728
    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.

    Current Use by Public Records

    • Waffle House / Restaurant

    Property Details for 10457 Sorrento Rd

    Year built
    2007
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.52 lot acres
    Property size
    1,664 SF
    Zone code
    COM
    Property type
    Turn key restaurants
    APN
    13-3S-31-1202-000-003
    APU
    133S311202000003

    Description

    Sorrento Plaza, a 14,460 square foot shopping center in Pensacola, Florida, offers a prime retail opportunity. This three-building, single-story complex sits on a 15-acre lot and boasts a convenient location across from Target, Walmart, Tractor Supply, and Aldi. Built in 2006 and renovated in 2012, the property is zoned COM and features 2,800 square feet of immediately available space, divisible into units ranging from 1,400 to 2,800 square feet. The current configuration is suitable for an insurance office, but the space is adaptable for various uses, including real estate, medical, or other retail businesses. The property benefits from significant area growth, including a new high school and numerous residential developments underway. Its proximity to the NAS backgate further enhances its appeal. Available for lease beginning March 2023. The property's parcel number is 133S311202000001 in Escambia County. This exceptional location and versatile space present a compelling investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $593,000
      Market price range: $204k - $802k
      AI Estimate
      $593,000
      Market price range: $204k - $802k

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

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    County
    Escambia
    State
    Florida
    Longitude
    -87.3625
    Latitude
    30.3586
    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
    $3,937
    $0.00
    $0.00
    $287,323
    -
    $96,140
    $191,183
    $287,323

    Comparable in this City

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    • Value Estimation by Request
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    Similar Nearby for Sale

    • Contact for pricing
      2,200 SF

      Turnkey Restaurant in Pensacola

      Fully operational restaurant in high-traffic area, redevelopment potential.
      3708 W Navy Blvd, Pensacola, FL 32507
      View Details
    • $600,000
      1,548 SF

      Perdido Key Tiki Bar & Grill

      Beach-bar with FF&E, lease, business assets, and liquor license.
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      View Details
    • $7,500,000
      7.00 Acres

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      Premier waterfront development opportunity with flexible mixed-use zoning.
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    • $950,000
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      Prime Pensacola Lounge & Package Store

      Established Business, Turnkey Operation, High Revenue Potential
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    Similar Nearby for Lease

    • $6 SF/Yr
      9,856 SF

      Restaurant with Event Space Potential

      Second-generation restaurant with event space and ample parking.
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    • $1,918 /Mo
      1,560 SF

      Pensacola Strip Mall Suite 3640

      1560 SF Retail/Office Space, Downtown Pensacola
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      View Details
    • $13 SF/Yr

      Professionally Managed Retail Shopping Center

      Neighborhood shopping center with long-term tenants and convenient access.
      3960 W Navy Blvd, Pensacola, FL 32507
      View Details
    • $1,300 /Mo
      800 SF

      Historic Pensacola Retail Space

      800 sq ft suite in renovated building
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      View Details
    • Contact for pricing

      Navy Park Plaza Suites Available

      Mixed-use center with office and retail suites for lease.
      3960 W Navy Blvd, Pensacola, FL 32507
      View Details
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    Pensacola, FL 32507-7618
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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
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