Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1108 Airport Blvd Ste A Pensacola, FL 32504-8623

    • Office buildings
    • 3,276 SF
    • 0.36 lot acres
    OFF-MARKET
    Last Sale
    Dec 05, 2023
    $670,000
    Value Estimations
    $635,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3850575
    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

    • Sarah Smith / Physician
    • Maria P Pia Bailetti / Physician
    • Ashley Orth / Dental Office
    • Julie Anderson / Dental Office
    • Donnie Marsh-Filipczak / Dental Office

    Property Details for 1108 Airport Blvd Ste A

    Year built
    1981
    Construction
    WOOD
    Lot size
    0.36 lot acres
    Property size
    3,276 SF
    Zone code
    R-2
    Property type
    Office buildings
    APN
    33-1S-30-4000-000-002
    APU
    331S304000000002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $550,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $502,000
      Market price range: $283k - $620k
      AI Estimate
      $502,000
      Market price range: $283k - $620k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $435,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $505,000
      Change: +16% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $460,000
      Change: +6% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $450,000
      Change: +3% Conversion: Easy
      RETAIL STORES
      $395,000
      Change: -9% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    County
    Escambia
    State
    Florida
    Longitude
    -87.2178
    Latitude
    30.4804
    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
    $7,243
    $0.00
    $0.00
    $415,165
    -
    $139,662
    $275,503
    $415,165

    Comparable in this City

    • Value Estimation by Request
      3,179 SF

      4305 Spanish Trl

      OFFICE BUILDING • 3,179 SF
      4305 Spanish Trl, Pensacola, FL 32504-4942
      View Details
    • Value Estimation by Request
      2,021 SF

      4303 Spanish Trl

      OFFICE BUILDING • 2,021 SF
      4303 Spanish Trl, Pensacola, FL 32504-4931
      View Details
    • Value Estimation
      $605,000
      3,639 SF

      6107 Tippin Ave

      PROFESSIONAL BUILDING • 3,639 SF
      6107 Tippin Ave, Pensacola, FL 32504-8219
      View Details
    • Value Estimation
      $23,895,000
      171,830 SF

      5151 9th Ave

      PROFESSIONAL BUILDING • 171,830 SF
      5151 9th Ave, Pensacola, FL 32504-8721
      View Details
    • Value Estimation by Request
      2,500 SF

      2401 Executive Plz Rd Ste, Unit 3

      OFFICE BUILDING • 2,500 SF
      2401 Executive Plz Rd Ste, Pensacola, FL 32504-8275
      View Details
    • Value Estimation
      $890,000
      4,692 SF

      1130 Creighton Rd

      PROFESSIONAL BUILDING • 4,692 SF
      1130 Creighton Rd, Pensacola, FL 32504-7034
      View Details

    Similar Nearby for Sale

    • $4,100,000
      30,093 SF

      Bayou Blvd Office Building Investment

      Pensacola Office Complex - High Growth Potential
      4700 BAYOU BLVD, Pensacola, FL 32504
      View Details
    • $515,000
      2,875 SF

      Creighton Road Commercial Opportunity

      Commercial property with office, industrial buildings, and laydown yard.
      1010 Creighton Rd, Pensacola, FL 32504
      View Details
    • $950,000
      3,800 SF

      Pensacola Medical Office Building

      Prime Medical Office, High-End Finishes
      900 Garden Gate Cir, Pensacola, FL 32504
      View Details
    • $895,000
      4,026 SF

      Pensacola Office Building For Sale

      Elegant 4,026 sq ft office, prime location.
      3008 Langley Ave, Pensacola, FL 32504
      View Details
    • $950,000
      3,800 SF

      Spacious Office Building Near Airport

      Well-maintained office building with high-end finishes near hospitals and airport.
      900 Garden Gate Cir, Pensacola, FL 32504
      View Details
    • $895,000
      3,850 SF

      Class A Office Building

      High-end office property with quality construction and interior finishes.
      3008 Langley Ave, Pensacola, FL 32504
      View Details

    Similar Nearby for Lease

    • $1,995 /Mo
      1,500 SF

      Pensacola Office Space: 1500 SF

      Prime Pensacola office, 6 offices, great location.
      2929 Langley Ave, Pensacola, FL 32504
      View Details
    • $425 /Mo
      121 SF

      Prime Pensacola Executive Suite

      Modern 121 sq ft office, ideal for small businesses. Excellent location & amenities.
      3000 Langley Ave, Pensacola, FL 32504
      View Details
    • $16 SF/Yr
      8,970 SF

      Pensacola Office Space: 8,970 SF

      Prime Pensacola office space, ideal for large businesses.
      5401 Corporate Woods Dr, Pensacola, FL 32504
      View Details
    • $26 SF/Yr
      460 SF

      Pensacola Office Space: 460 SF

      Modern, upgraded office suite near I-10.
      7282 Plantation Rd, Pensacola, FL 32504
      View Details
    • $1,650 /Mo
      1,250 SF

      Pensacola Office Space: 1250 SF

      Modern Pensacola office, renovated, great location.
      1149 Creighton Rd, Pensacola, FL 32504
      View Details
    • $20 SF/Yr
      3,630 SF

      Pensacola Medical Office Suite 1500

      High-end medical office space available. Excellent Cordova location.
      2114 Airport Blvd, Pensacola, FL 32504
      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.
    1108 Airport Blvd Ste A
    Pensacola, FL 32504-8623
    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.