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Property profile & analytics
OFF-MARKET
Estimated value
$26,420,000
Community centers
1650 Airport Blvd, Pensacola, FL 32504-8647
Entity Owned
8-yr Hold
Free & Clear
Property ID
US18-4407300
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
126,741 SF
Lot
11.89 ac (517,928 SF)
Zoning code
C-2
APN
33-1S-30-4101-000-001
UPID
US18-4407300
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
-
Marshalls Department Store
-
Leigh A. Dominey, PharmD Pharmacy
-
Karen S. Miles, RPh Pharmacy
-
Scott Georges, Pharm Pharmacy
-
DSW Designer Shoe Warehouse Clothing & Fashion Store (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$26.42M
Blend (final)
Blend
$26.42M
Owner & transaction history
Suso 4 Cordova LP · 8 yrs held
Suso 4 Cordova LP
since 2017
5 recorded transactions
Zoning & alternative use
C-2 · Pensacola, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$39.6M
+102.7%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$19,545,000
Current use
RESTAURANT
$39,625,000
Change: +103% · Conversion: Difficult
AUTO REPAIR, GARAGE
$17,825,000
Change: -9% · Conversion: Difficult
COMMERCIAL (GENERAL)
$17,330,000
Change: -11% · Conversion: Easy
OFFICE BUILDING
$16,865,000
Change: -14% · Conversion: Moderate
Blend value · Realmo final
$26.42M
Range $23.78M – $29.06M · ±10%
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
$208 / 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
$289,237
Tax year 2023
Assessed value
$16,418,085
Assessed 2023
Previous assessed
$15,320,670
+7.2% YoY
Effective rate
1.76%
On assessed value
Land market value
$4,756,000
Improvement market value
$11,662,085
Total market value
$16,418,085
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Buildings
5
Stories
2
Bathrooms
34
Total area
126,741 SF
Lot
11.89 ac (517,928 SF)
Zoning code
C-2
APN
33-1S-30-4101-000-001
UPID
US18-4407300
Jurisdiction
ESCAMBIA
Zoning & alternative use
C-2 · Pensacola, FL
Zoning C-2 · permitted uses
C-2 · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$19.5M
RESTAURANT
Est. value
$39.6M
AUTO REPAIR, GARAGE
Est. value
$17.8M
COMMERCIAL (GENERAL)
Est. value
$17.3M
OFFICE BUILDING
Est. value
$16.9M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
5
Bathrooms
34
Lot
11.89 ac
Current owner
From public records · entity-resolved
Suso 4 Cordova LP
Entity
Free & Clear · 8 yrs held
Mailing address
121 KING ST W STE 200TH ON
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 17, 2017
$35,200,000
Suso 4 Cordova LP
Bre Ddr Br Cordova Fl LLC
Grant Deed
—
Nov 12, 2014
$34,600,000
Ddr Br Cordova Fl LLC|br Bre
Cole Mt Pensacola Cordova Fl
Grant Deed
related
$800,000,000 · Wells Fargo Bk
Jan 6, 2014
$33,685,000
Cole Mt Pensacola Cordova Fl
Vif II Cordova Associates LLC
Grant Deed
—
Dec 1, 2006
$18,100,000
Vif II Cordova Associates LLC
Watch Holdings LLC
Special Warranty Deed
$12,000,000 · Morgan Stanley Mortgage Capital INC
—
—
Vif II Cordova Associates LLC
—
Deed Of Trust
related
$29,000,000 · Us Bank NA
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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