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

    3101 E Cervantes St Pensacola, FL 32503

    • Community centers
    • 6,174 SF
    • 0.52 lot acres
    For Lease
    View listing
    $16 SF/Yr
    Last Sale
    May 26, 2022
    $995,000
    Value Estimations
    $1,055,000
    Cap Rate Potential
    8.4%
    Community centers
    Location Intelligence
    Property ID
    US18-2750630
    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

    • One Well Life (OWL) / Gym & Fitness Center
    • Thrive Co. and Spa / Spa & Massage Center
    • Fannie Lou's Ice Cream / Grocery & Convenience Store / Specialty Food Shop
    • Michelle Beasley MD / Physician
    • Alyssa Rose Beauty Bar / Hair Salon / Nail Salon

    Property Details for 3101 E Cervantes St

    Year built
    2006
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.52 lot acres
    Property size
    6,174 SF
    Zone code
    R-NC
    Property type
    Community centers
    APN
    05-2S-29-5905-018-013
    APU
    052S295905018013

    Description

    This exceptional 1,260 square foot retail space is located at 3101 E Cervantes Street in Pensacola, Florida, 32503. Situated within a larger 6,174 square foot building on a 0.51-acre lot (APN: 052S295905018013), this single-tenant storefront offers high visibility and easy access in the desirable East Pensacola Heights neighborhood, where Cervantes Street transitions into Scenic Highway. The space features attractive storefront design, boasting 12-foot ceilings, concrete floors, and a single restroom. Its open layout provides flexibility for a variety of uses, making it ideal for businesses such as fitness studios, boutiques, or other retail ventures. The property is zoned R-NC within Escambia County. This location provides superior visibility and accessibility, making it an excellent opportunity for a business seeking a prominent presence in a thriving area. The building is a single-story structure. This is a rare opportunity to secure a well-positioned retail space in a highly sought-after Pensacola location. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $880,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,230,000
      6.5%
      $1,135,000
      7%
      $1,055,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,070,000
      Market price range: $434k - $1.44M
      AI Estimate
      $1,070,000
      Market price range: $434k - $1.44M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $950,000
      Current use
      COMMERCIAL (GENERAL)
      $1,125,000
      Change: +18% Conversion: Easy
      AUTO REPAIR, GARAGE
      $870,000
      Change: -9% Conversion: Difficult
      OFFICE BUILDING
      $785,000
      Change: -18% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    County
    Escambia
    State
    Florida
    Longitude
    -87.1803
    Latitude
    30.4248
    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
    $11,602
    $0.00
    $0.00
    $665,073
    -
    $225,000
    $440,073
    $665,073

    Comparable in this City

    • Value Estimation
      $1,785,000
      14,359 SF

      4350 Byu Blvd

      MINI-MALL • 14,359 SF
      4350 Byu Blvd, Pensacola, FL 32503-1948
      View Details
    • Value Estimation
      $1,065,000
      4,564 SF

      5020 Byu Blvd

      MINI-MALL • 4,564 SF
      5020 Byu Blvd, Pensacola, FL 32503-2504
      View Details
    • Value Estimation
      $1,175,000
      11,355 SF

      503 Brent Ln

      MINI-MALL • 11,355 SF
      503 Brent Ln, Pensacola, FL 32503-2003
      View Details
    • Value Estimation
      $1,905,000
      14,599 SF

      5555 Davis Hwy Ste I

      MINI-MALL • 14,599 SF
      5555 Davis Hwy Ste I, Pensacola, FL 32503-2065
      View Details
    • Value Estimation
      $1,150,000
      7,873 SF

      5710 Davis Hwy

      MINI-MALL • 7,873 SF
      5710 Davis Hwy, Pensacola, FL 32503-2088
      View Details
    • Value Estimation
      $11,845,000
      50,685 SF

      5007 Davis Hwy

      MINI-MALL • 50,685 SF
      5007 Davis Hwy, Pensacola, FL 32503-2300
      View Details

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    Similar Nearby for Lease

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    Pensacola, FL 32503
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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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