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    Property profile & analytics

    2 E Nine Mile Rd, Unit 510 Pensacola, FL 32534

    • Drive through restaurants
    • 3,031 SF
    • 0.64 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Last Sale
    Aug 31, 2021
    $2,138,000
    Value Estimations
    $1,720,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1069240
    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

    • Firehouse Subs Pensacola #1 / Caterer / Sandwich Shop
    • Goodwill / Clothing Store
    • Goodwill Gulf Coast - Ensley Store/Donations / Clothing Store / Thrift Store
    • Koi Sushi / Takeout Restaurant / Sushi Restaurant
    • Culture Kutz Barbershop / Barber Shop

    Property Details for 2 E Nine Mile Rd

    Year built
    1978
    Construction
    WOOD
    Lot size
    0.64 lot acres
    Property size
    3,031 SF
    Zone code
    HC/LI
    Property type
    Drive through restaurants
    APN
    08-1S-30-3405-000-001
    APU
    081S303405000001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,735,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,406,000
      Market price range: $371k - $1.46M
      AI Estimate
      $1,406,000
      Market price range: $371k - $1.46M

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

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    County
    Escambia
    State
    Florida
    Longitude
    -87.2736
    Latitude
    30.5337
    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
    $9,184
    $0.00
    $0.00
    $681,069
    -
    $335,700
    $345,369
    $681,069

    Comparable in this City

    • Value Estimation by Request
      2,180 SF

      6 9th Mile Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,180 SF
      6 9th Mile Rd, Pensacola, FL 32534-3133
      View Details
    • Value Estimation
      $2,545,000
      2,827 SF

      707 9th Mile Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,827 SF
      707 9th Mile Rd, Pensacola, FL 32534-1857
      View Details
    • Value Estimation by Request
      1,783 SF

      233 9th Mile Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,783 SF
      233 9th Mile Rd, Pensacola, FL 32534-3146
      View Details
    • Value Estimation by Request
      3,868 SF

      121 9th Mile Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,868 SF
      121 9th Mile Rd, Pensacola, FL 32534-3140
      View Details
    • Value Estimation by Request
      4,830 SF

      5 9th Mile Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,830 SF
      5 9th Mile Rd, Pensacola, FL 32534-1264
      View Details
    • Value Estimation by Request
      3,430 SF

      8001 Pensacola Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,430 SF
      8001 Pensacola Blvd, Pensacola, FL 32534-4351
      View Details

    Similar Nearby for Sale

    • $650,000
      2,627 SF

      Restaurant with Drive-Thru Window

      Fully equipped restaurant with drive-thru and additional tenant.
      8710 Pensacola Blvd, Pensacola, FL 32534
      View Details
    • $340,000
      1,608 SF

      Versatile Commercial Property on Palafox

      Commercial property with high visibility, ample parking, and multiple entrances.
      9225 N Palafox St, Pensacola, FL 32534
      View Details
    • $285,000
      2,208 SF

      Commercial Warehouse Near Nine Mile

      Versatile commercial warehouse with high ceilings and roll-up doors.
      86 E Nine Mile Rd, Pensacola, FL 32534
      View Details
    • $1,850,000
      5,193 SF

      Prime Pensacola Blvd Body Shop

      High-traffic location, 4,856 SF building on 0.63 acres.
      8129 Pensacola Blvd, Pensacola, FL 32534
      View Details
    • $1,700,000
      4,856 SF

      Pensacola Blvd Retail Opportunity

      Operating auto repair business and real estate for sale.
      8129 Pensacola Blvd, Pensacola, FL 32534
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    • $847,400

      Firestone Property For Sale

      Investment property with frontage on E Nine Mile Rd.
      37 E Nine Mile Rd, Pensacola, FL 32534
      View Details

    Similar Nearby for Lease

    • $7,200 /Mo
      5,760 SF

      Prime Pensacola Retail Space

      High-traffic location, 5760 sq ft.
      31 W 9 Mile Rd, Pensacola, FL 32534
      View Details
    • $26 SF/Yr
      1,200 SF

      Retail Space in Walmart-Anchored Center

      Retail space available in high-traffic Pensacola shopping center.
      1551 E Nine Mile Rd, Pensacola, FL 32534
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space in University Town

      Retail space available in Pensacola's University Town Center.
      1741 E Nine Mile Rd, Pensacola, FL 32534
      View Details
    • Contact for pricing
      1,231 SF

      Retail Space Near University

      Retail space available near the University of West Florida.
      8958 Pensacola Blvd, Pensacola, FL 32534
      View Details
    • $4,386 /Mo
      4,386 SF

      Pensacola Retail Space For Lease

      High-traffic location, 4,386 sq ft.
      31 W 9 Mile Rd, Pensacola, FL 32534
      View Details
    • $3,600 /Mo
      2,880 SF

      Pensacola Retail Space: High Traffic Location

      Prime Retail Space, 2880 sq ft, NNN Lease
      31 W 9 Mile Rd, Pensacola, FL 32534
      View Details

    Property Visit Statistics

    • Visits by month
      21.3k
    • Visitors by month
      17.9k
    • Avg Time on site
      21 min
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    2 E Nine Mile Rd, Unit 510
    Pensacola, FL 32534
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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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