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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1924 Creighton Rd Pensacola, FL 32504-7214

    • Investment properties
    • 2,568 SF
    • 0.58 lot acres
    OFF-MARKET
    Last Sale
    May 11, 2022
    $420,800
    Value Estimations
    $500,000
    Show details
    Cap Rate Potential
    8.2%
    Investment properties
    Location Intelligence
    Property ID
    US18-5060991
    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

    • Triops, Inc. / Toy Store / Education
    • Bayou Pools / Pool Cleaning Service

    Property Details for 1924 Creighton Rd

    Year built
    1956
    Construction
    WOOD FRAME
    Lot size
    0.58 lot acres
    Property size
    2,568 SF
    Zone code
    COM
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    31-1S-30-1901-220-002
    APU
    311S301901220002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $370,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $510,000
      6.5%
      $470,000
      7%
      $435,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $660,000
      Market price range: $141k - $661k
      AI Estimate
      $660,000
      Market price range: $141k - $661k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $350,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $395,000
      Change: +13% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $360,000
      Change: +3% Conversion: Difficult
      OFFICE BUILDING
      $340,000
      Change: -3% Conversion: Easy
      RETAIL STORES
      $310,000
      Change: -11% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    County
    Escambia
    State
    Florida
    Longitude
    -87.2027
    Latitude
    30.4959
    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
    $5,616
    $0.00
    $0.00
    $405,728
    -
    $111,320
    $294,408
    $405,728

    Comparable in this City

    • Value Estimation
      $1,960,000
      6,182 SF

      6403 9th Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 6,182 SF
      6403 9th Ave, Pensacola, FL 32504-7321
      View Details
    • Value Estimation by Request
      1,840 SF

      1511 Creighton Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,840 SF
      1511 Creighton Rd, Pensacola, FL 32504-7194
      View Details
    • Value Estimation by Request
      3,243 SF

      2815 Langley Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,243 SF
      2815 Langley Ave, Pensacola, FL 32504-7394
      View Details
    • Value Estimation by Request
      1,075 SF

      1010 Creighton Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,075 SF
      1010 Creighton Rd, Pensacola, FL 32504-7032
      View Details
    • Value Estimation by Request
      1,120 SF

      6430 Tippin Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,120 SF
      6430 Tippin Ave, Pensacola, FL 32504-8143
      View Details
    • Value Estimation by Request
      865 SF

      Franchise For Sale Attention All Owner Operators!

      Restaurants • 865 SF
      0 Franchise For Sale Attention All Owner Operators!, Pensacola, FL 32504
      View Details

    Similar Nearby for Sale

    • $240,000
      852,837 SF

      Pensacola Dessert Shop for Sale

      Thriving Frozen Yogurt & Boba Tea Business
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    • $399,000
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      Prime Pensacola Retail Building

      Profitable Investment Opportunity in Pensacola, FL
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      Cordova Mall Bakery - Prime Location

      High-end Mediterranean bakery, excellent foot traffic.
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    • $1,250,000
      11.65 Acres

      Pensacola Commercial Land - 11.65 Acres

      Prime Pensacola development land, R-2 zoning.
      6100 Village Oaks Dr, Pensacola, FL 32504
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    • $720,000
      6,704 SF

      Langley Ave Office Building

      Pensacola Office, 6.53% Cap Rate
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      Pensacola Commercial Land - 2.4 Acres

      Prime Pensacola commercial lots, ideal for diverse uses.
      6013 Hilburn Rd, Pensacola, FL 32504
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    Similar Nearby for Lease

    • $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
    • $18 SF/Yr
      2,800 SF

      Pensacola Executive Office Suite F

      Class A Office Space, 2800 SF, Pensacola
      2032 Creighton Rd, Pensacola, FL 32504
      View Details
    • $6 SF/Yr
      1,298 SF

      Pensacola Office Suite - 1298 SF

      Prime Pensacola office/storage space available.
      7280 Plantation Rd, Pensacola, FL 32504
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    • $22 SF/Yr
      1,600 SF

      Pensacola Retail Space - 1600 SF

      Prime Pensacola retail space available. High visibility, ample parking.
      6601 N Davis Hwy, 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
    • $18 SF/Yr
      169,486 SF

      Cordova Commons Retail Space

      Pensacola Shopping Center: 18,000 SF Available
      1690 Airport Blvd, Pensacola, FL 32504
      View Details
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    1924 Creighton Rd
    Pensacola, FL 32504-7214
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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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