Add Listing
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

    1717 W Government St Pensacola, FL 32502

    • Office properties & Spaces
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 1717 W Government St

    Year built
    1935
    Property type
    Office properties & Spaces
    Property subtype
    Residential offices

    Description

    This 848-square-foot historic home presents a unique investment opportunity in Pensacola's desirable Tanyard neighborhood. Zoned C-3, this property allows for a variety of intensive commercial uses, making it ideal for a savvy investor seeking a blend of residential charm and commercial potential. Situated on a nearly quarter-acre lot (0.17 acres), the property boasts a massive fenced yard, providing ample space for parking—enough to accommodate a boat, RV, or multiple vehicles. The home itself features a recently installed roof, new plumbing, and a newer HVAC system, ensuring peace of mind for the new owner. Additional features include a termite bond, a gas stove, and a classic cast iron tub. Enjoy the screened front and back porches, along with a front deck and convenient in-home laundry room. Three majestic oak trees grace the property, adding to its curb appeal. Its prime location places it within three blocks of the Emerald Republic Brewery and within walking distance of several popular restaurants including the Pearl & Horn, Taste of Jerusalem, Camellia, and Oar House. The property previously commanded a monthly rental income of $1,700. This exceptional property offers a rare combination of historic character, modern updates, and flexible zoning in a highly sought-after location.

    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
    State
    Florida

    Comparable in this City

    • $2,150,000
      4,405 SF

      Downtown Pensacola Office Complex

      Historic Palafox Street, lucrative investment.
      216 - 220 Palafox Pl, Pensacola, FL 32502
      View Details
    • $187,500
      636 SF

      Downtown Pensacola Office Suite

      Modern, 636 sq ft office space for sale.
      224 E Garden St, Pensacola, FL 32502
      View Details
    • $2,395,000
      16,054 SF

      Downtown Pensacola Office/Warehouse

      16,054 SF mixed-use building, sale/lease
      1301 W Government St, Pensacola, FL 32502
      View Details
    • $259,900
      916 SF

      Pensacola Office Suite: Prime Location

      Modern, updated 916 sq ft office suite for sale.
      224 E Garden St, Pensacola, FL 32502
      View Details
    • $1,249,000
      9,625 SF

      Downtown Pensacola Warehouse Opportunity

      Prime .9-acre warehouse, redevelopment potential.
      1401 Barrancas Ave, Pensacola, FL 32502
      View Details
    • $1,950,000
      8,246 SF

      Prime Pensacola Office Complex

      8,246 SF Office Building, Excellent Condition
      655 W Garden St, Pensacola, FL 32502
      View Details

    Similar Nearby for Sale

    • $2,150,000
      4,405 SF

      Downtown Pensacola Office Complex

      Historic Palafox Street, lucrative investment.
      216 - 220 Palafox Pl, Pensacola, FL 32502
      View Details
    • $187,500
      636 SF

      Downtown Pensacola Office Suite

      Modern, 636 sq ft office space for sale.
      224 E Garden St, Pensacola, FL 32502
      View Details
    • $2,395,000
      16,054 SF

      Downtown Pensacola Office/Warehouse

      16,054 SF mixed-use building, sale/lease
      1301 W Government St, Pensacola, FL 32502
      View Details
    • $259,900
      916 SF

      Pensacola Office Suite: Prime Location

      Modern, updated 916 sq ft office suite for sale.
      224 E Garden St, Pensacola, FL 32502
      View Details
    • $1,249,000
      9,625 SF

      Downtown Pensacola Warehouse Opportunity

      Prime .9-acre warehouse, redevelopment potential.
      1401 Barrancas Ave, Pensacola, FL 32502
      View Details
    • $1,950,000
      8,246 SF

      Prime Pensacola Office Complex

      8,246 SF Office Building, Excellent Condition
      655 W Garden St, Pensacola, FL 32502
      View Details

    Similar Nearby for Lease

    • $550 /Mo
      200 SF

      Pensacola Office Space: 200 SF Lease

      Prime Pensacola office, short-term lease available.
      21 South Tarragona Street, Suite 103, Pensacola, FL 32502
      View Details
    • $500 /Mo
      150 SF

      Pensacola Office Space: 150 SF

      Prime Pensacola office, short-term lease.
      21 South Tarragona Street, Suite 103, Pensacola, FL 32502
      View Details
    • $950 /Mo
      1,465 SF

      Downtown Pensacola Office Space For Lease

      Prime ground floor unit, 1465 sq ft, ideal for business.
      412 S E St, Pensacola, FL 32502
      View Details
    • $3,816 /Mo
      2,862 SF

      Prime Pensacola Executive Suite & Warehouse

      Class A Office & Warehouse Space Available
      375 North 9th Avenue, Pensacola, FL 32502
      View Details
    • Contact for pricing

      Downtown Pensacola Mixed-Use Redevelopment

      Mixed-use redevelopment project in downtown Pensacola's East Garden District.
      20 E Garden St, Pensacola, FL 32502
      View Details
    • $30 SF/Yr
      2,305 SF

      Pensacola Office Space: 2305 SF

      Prime Pensacola office suite available.
      220 West Garden St, Pensacola, FL 32502
      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.
    1717 W Government St
    Pensacola, FL 32502
    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!