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

    312 Nine Mile Rd Pensacola, FL 32514

    • Community centers
    • 53,541 SF
    • 12.17 lot acres
    For Lease
    View listing
    $20 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2170674
    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

    • T-Mobile Authorized Retailer / Mobile Phone Store / Electronics & Wireless Store
    • Kittrell Insurance / Insurance Agency
    • Brown Greg / Insurance Agency
    • Winn-Dixie Pharmacy / Grocery & Convenience Store / Food Market
    • Security 1st Solutions / Security Service / General Contractor

    Property Details for 312 Nine Mile Rd

    Year built
    1985
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    12.17 lot acres
    Property size
    53,541 SF
    Zone code
    HC/LI
    Property type
    Community centers
    APN
    07-1S-30-2301-000-000
    APU
    071S302301000000

    Description

    Located at 312 E 9 Mile Rd, Pensacola, FL 32514, Nine Mile Road Plaza offers exceptional retail opportunities in Escambia County. This single-story, 143,352 square foot retail center, built in 1986, currently has 10,125 square feet of vacant space available for lease. Units range in size from 621 to 2,685 square feet, providing flexibility for various business needs. The property boasts ample parking with 623 spaces available for customers and employees. The plaza's prime location ensures high visibility and accessibility, making it an ideal location for businesses seeking strong foot traffic. Given its established presence and convenient amenities, Nine Mile Road Plaza presents a compelling investment opportunity for retailers looking to establish or expand their operations in a thriving Pensacola market. The property is a multi-tenant building with no elevators. Interested parties should inquire about available unit sizes and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $12,514,000
      Market price range: $3.77M - $12.5M
      AI Estimate
      $12,514,000
      Market price range: $3.77M - $12.5M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $8,260,000
      Current use
      RESTAURANT
      $16,740,000
      Change: +103% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $7,530,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    County
    Escambia
    State
    Florida
    Longitude
    -87.2606
    Latitude
    30.5339
    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
    $112,987
    $0.00
    $0.00
    $7,961,776
    -
    $2,191,362
    $5,770,414
    $7,961,776

    Comparable in this City

    • Value Estimation by Request
      9,818 SF

      620 Nine Mile Rd

      Lifestyle centers • 9,818 SF
      620 Nine Mile Rd, Pensacola, FL 32514
      View Details
    • Value Estimation
      $1,250,000
      10,996 SF

      955 9th Mile Rd

      MINI-MALL • 10,996 SF
      955 9th Mile Rd, Pensacola, FL 32514-1705
      View Details
    • Value Estimation by Request
      9,733 SF

      960 9th Mile Rd

      MINI-MALL • 9,733 SF
      960 9th Mile Rd, Pensacola, FL 32514-1647
      View Details
    • Value Estimation
      $7,315,000
      61,841 SF

      8102 Davis Hwy

      MINI-MALL • 61,841 SF
      8102 Davis Hwy, Pensacola, FL 32514-6083
      View Details
    • Value Estimation
      $8,880,000
      37,990 SF

      4055 Olive Rd

      MINI-MALL • 37,990 SF
      4055 Olive Rd, Pensacola, FL 32514
      View Details
    • Value Estimation
      $1,830,000
      11,255 SF

      596 9th Mile Rd

      MINI-MALL • 11,255 SF
      596 9th Mile Rd, Pensacola, FL 32514-2756
      View Details

    Similar Nearby for Sale

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      High-traffic Hwy 90 location, 3,000 SF building, ideal for redevelopment.
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    • $250,000
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      Pensacola Commercial Land - $250K

      High-traffic corner lot, versatile zoning.
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      Pensacola Commercial Land - $375K

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    Similar Nearby for Lease

    • $32 SF/Yr
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      Cashiers Plaza: Retail Opportunity

      New 9,818 SF Retail Center - 7 Spaces Available
      620 Nine Mile Rd, Pensacola, FL 32514
      View Details
    • $20 SF/Yr
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      Prime Pensacola Retail Space

      3200 SF Retail, Excellent Location
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      View Details
    • $21 SF/Yr
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      Prime Pensacola Retail Space

      High-traffic location, 2,275 SF available
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    • $33 SF/Yr
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      Prime Pensacola Retail Space

      New 1360 sq ft retail/office space; high visibility; excellent location.
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    • $34 SF/Yr
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      Prime Pensacola Retail Space

      New 1,245 SF retail/office suite available.
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      View Details
    • $33 SF/Yr
      1,814 SF

      Prime Pensacola Retail Space

      New 1814 sq ft retail/office space; high visibility; excellent location.
      620 E 9 Mile Road, Pensacola, FL 32514
      View Details
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    312 Nine Mile Rd
    Pensacola, FL 32514
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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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