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Property profile & analytics
OFF-MARKET
Estimated value
$1,120,000
Office buildings
2107 Airport Blvd Pensacola, FL 32504-8917
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US18-4008819
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
7,754 SF
Lot
0.7 ac (30,690 SF)
Zoning code
C-3
APN
33-1S-30-7101-025-001
UPID
US18-4008819
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
-
Harper Law, PA Law Firm
-
Sam Rogers Real Estate Agency
-
Harper Title Company, LLC Title Company
-
Baars Real Estate Services LLC Real Estate Agency
-
Cindy Spence - Realtor Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.12M
Blend (final)
Blend
$1.12M
Owner & transaction history
Connell & Manziek Realty INC · 8 yrs held
Connell & Manziek Realty INC
since 2018
2 recorded transactions
Zoning & alternative use
C-3 · Pensacola, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The commercial land use district is established for the purpose of providing areas of commercial development ranging from compact shopping areas to limited industrial or high intensity commercial uses. Conventional residential use is allowed as well as residential uses on upper floors above ground floor commercial or office uses and in other types of mixed u…
Zone name
Commercial
General category
MIXED_USE
Zone area
815.89 ac
Source
Realmo
Top alternative use upside
Neighborhood: shopping center
$1.2M
+15.9%
Auto repair, garage
$1.1M
+5.7%
Commercial (general)
$1.1M
+2.8%
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
OFFICE BUILDING
$1,030,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,195,000
Change: +16% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,090,000
Change: +6% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,060,000
Change: +3% · Conversion: Easy
RETAIL STORES
$940,000
Change: -9% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$920,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$1.12M
Range $1.01M – $1.23M · ±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
$144 / 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
$16,248
Tax year 2023
Assessed value
$926,180
Assessed 2023
Previous assessed
$886,534
+4.5% YoY
Effective rate
1.75%
On assessed value
Land market value
$398,970
Improvement market value
$527,210
Total market value
$926,180
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Bathrooms
2
Total area
7,754 SF
Lot
0.7 ac (30,690 SF)
Zoning code
C-3
APN
33-1S-30-7101-025-001
UPID
US18-4008819
Jurisdiction
ESCAMBIA
Zoning & alternative use
C-3 · Pensacola, FLZoning C-3 · permitted uses
C-3 · Pensacola, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The commercial land use district is established for the purpose of providing areas of commercial development ranging from compact shopping areas to limited industrial or high intensity commercial uses. Conventional residential use is allowed as well as residential uses on upper floors above ground floor commercial or office uses and in other types of mixed use development.
Zone name
Commercial
General category
MIXED_USE
Zone area
815.89 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.1M
RETAIL STORES
Est. value
$940,000
INDUSTRIAL (GENERAL)
Est. value
$920,000
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
INDUSTRIAL (GENERAL)
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
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Bathrooms
2
Lot
0.7 ac
Current owner
From public records · entity-resolved
Connell & Manziek Realty INC
Entity
Mailing address
2107 AIRPORT BLVD, PENSACOLA, FL 32504-8917
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 28, 2018
—
Connell & Manziek Realty INC
—
Deed
related
$750,000 · Hancock Whitney Bk
—
—
Connell & Manziek Realty INC
—
Deed Of Trust
related
$750,000 · Hancock Whitney Bk
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.
Try Rey
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