Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    2003 Pace Blvd Pensacola, FL 32505-5833

    • Auto shops
    • 3,576 SF
    • 0.34 lot acres
    OFF-MARKET
    Last Sale
    Oct 12, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3612438
    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

    • Larry's Auto Repair / Auto Repair Shop
    • Krossman Kustoms LLC / Auto Repair Shop / Mechanic
    • Tire Doctor / Tire Shop

    Property Details for 2003 Pace Blvd

    Year built
    1973
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.34 lot acres
    Property size
    3,576 SF
    Zone code
    HC/LI
    Property type
    Auto shops
    APN
    17-2S-30-1200-006-028
    APU
    172S301200006028

    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
    Escambia
    State
    Florida
    Longitude
    -87.2408
    Latitude
    30.4338
    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
    $1,621
    $0.00
    $0.00
    $109,388
    -
    $33,638
    $75,750
    $109,388

    Comparable in this City

    • Value Estimation by Request
      3,198 SF

      403 Beverly Pkwy

      AUTO REPAIR, GARAGE • 3,198 SF
      403 Beverly Pkwy, Pensacola, FL 32505-2403
      View Details
    • Value Estimation by Request
      3,840 SF

      230 Beverly Pkwy

      AUTO REPAIR, GARAGE • 3,840 SF
      230 Beverly Pkwy, Pensacola, FL 32505-2818
      View Details
    • Value Estimation by Request
      37,221 SF

      5705 Pensacola Blvd

      AUTO REPAIR, GARAGE • 37,221 SF
      5705 Pensacola Blvd, Pensacola, FL 32505-2565
      View Details
    • Value Estimation by Request
      2,474 SF

      3229 Q St

      AUTO REPAIR, GARAGE • 2,474 SF
      3229 Q St, Pensacola, FL 32505-5144
      View Details
    • Value Estimation by Request
      1,739 SF

      127 Van Pelt Ln

      AUTO REPAIR, GARAGE • 1,739 SF
      127 Van Pelt Ln, Pensacola, FL 32505-2525
      View Details
    • Value Estimation by Request
      676 SF

      1407 St

      AUTO REPAIR, GARAGE • 676 SF
      1407 St, Pensacola, FL 32505-6305
      View Details

    Similar Nearby for Sale

    • $500,000
      2,912 SF

      Corner Lot Auto Shop Opportunity

      Auto body shop and car wash on a high-traffic corner lot.
      2107 W Cervantes St, Pensacola, FL 32505
      View Details
    • $199,000
      4,626 SF

      Redevelopment Opportunity on Corner Lot

      Former machine shop on 0.61 acres with development potential.
      3305 Mobile Hwy, Pensacola, FL 32505
      View Details
    • $1,600,000
      16,858 SF

      Pensacola Storage Facility with Expansion Potential

      Storage facility with diversified unit mix and expansion opportunity.
      1720 N Pace Blvd, Pensacola, FL 32505
      View Details
    • $2,550,000
      10,149 SF

      Pensacola Portfolio: Adaptable Commercial Properties

      Four-property portfolio with income-producing assets and redevelopment potential.
      312-375 N Pace Blvd, Pensacola, FL 32505
      View Details
    • $750,000
      2,856 SF

      1900 North St

      Automotive properties • 2,856 SF
      1900 North St, Pensacola, FL 32505
      View Details
    • $500,000
      4,681 SF

      Pensacola Retail Space For Sale

      Prime Commercial Development Opportunity, 4,845 SF
      301 Massachusetts Ave, Pensacola, FL 32505
      View Details

    Similar Nearby for Lease

    • $7,500 /Mo
      5,000 SF

      Showroom, Warehouse, Office Multi-Use Facility

      Excellent condition showroom, warehouse, and office property for rent.
      6210 N W St, Pensacola, FL 32505
      View Details
    • $27 SF/Yr
      2,568 SF

      Pensacola Gas Station - Lease Opportunity

      High-traffic location, fully renovated, ready to operate.
      1900 North St, Pensacola, FL 32505
      View Details
    • $10 SF/Yr
      2,500 SF

      Prime Pensacola Retail Space Available

      Renovated 2,500 SF Suite, N Pace Blvd
      1612 N Pace Boulevard, Pensacola, FL 32505
      View Details
    • $15 SF/Yr
      5,778 SF

      Freestanding Building at Signalized Corner

      Freestanding retail building with high visibility and flexible access.
      3620-3620 W Fairfield Dr, Pensacola, FL 32505
      View Details
    • $9 SF/Yr
      3,066 SF

      Pensacola Retail and Warehouse Space

      Retail and warehouse space in established Pensacola shopping center.
      3300 N Pace Blvd, Pensacola, FL 32505
      View Details
    • $900 /Mo
      1,500 SF

      Pensacola Office Space: 1500 SF

      Prime Pensacola Office, Flexible Lease
      2409 W Cervantes St, Pensacola, FL 32505
      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.
    2003 Pace Blvd
    Pensacola, FL 32505-5833
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.