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

    402 Okaloosa Ave Pensacola, FL 32503-7822

    • Investment properties
    • 624 SF
    • 0.29 lot acres
    OFF-MARKET
    Last Sale
    Mar 23, 2025
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4443273
    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

    • Investment properties

    Property Details for 402 Okaloosa Ave

    Year built
    1969
    Construction
    WOOD FRAME
    Lot size
    0.29 lot acres
    Property size
    624 SF
    Zone code
    COM
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    35-1S-30-2101-036-002
    APU
    351S302101036002

    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
    -87.2278
    Latitude
    30.481
    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
    $2,745
    $0.00
    $0.00
    $196,810
    -
    $74,880
    $123,745
    $198,625

    Comparable in this City

    • Value Estimation
      $1,215,000
      3,294 SF

      6118 Palafox St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,294 SF
      6118 Palafox St, Pensacola, FL 32503
      View Details
    • Value Estimation by Request
      1,430 SF

      6920 Palafox St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,430 SF
      6920 Palafox St, Pensacola, FL 32503-7151
      View Details
    • Value Estimation by Request
      1,640 SF

      4750 9th Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,640 SF
      4750 9th Ave, Pensacola, FL 32503-2465
      View Details
    • Value Estimation by Request
      1,936 SF

      280 Airport Blvd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,936 SF
      280 Airport Blvd, Pensacola, FL 32503-7771
      View Details
    • Value Estimation by Request
      4,324 SF

      5725 Palafox St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,324 SF
      5725 Palafox St, Pensacola, FL 32503-7611
      View Details
    • Value Estimation by Request
      1,961 SF

      900 Avery St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,961 SF
      900 Avery St, Pensacola, FL 32503-5227
      View Details

    Similar Nearby for Sale

    • $449,000
      4,688 SF

      Cordova Square Office Complex

      Prime Pensacola Office Space, 4,688 SF
      4400 Bayou Blvd, Pensacola, FL 32503
      View Details
    • Contact for pricing
      0.41 Acres

      Bayou Blvd Commercial Property

      High-traffic Pensacola retail space.
      5042 Bayou Blvd, Pensacola, FL 32503
      View Details
    • $895,000
      7,230 SF

      Gaslight Square Retail Investment

      Prime Pensacola retail/office space, ample parking.
      5700 N Davis Hwy, Pensacola, FL 32503
      View Details
    • $205,000
      10,116 SF

      Pensacola Flex Space Investment Opportunity

      Prime Pensacola location, 3,841 SF, high upside potential.
      5725 N Palafox St, Pensacola, FL 32503
      View Details
    • $1,950,000
      5,832 SF

      Pensacola Restaurant & Catering Business

      Turn-key operation, high NOI, strong CAP rate.
      3206 De Soto St, Pensacola, FL 32503
      View Details
    • $1,400,000
      2,600 SF

      Prime Pensacola Car Lot & Building

      Established Car Dealership, 1.4 Acres
      0 Palafox St, Pensacola, FL 32503
      View Details

    Similar Nearby for Lease

    • $1,950 /Mo
      1,268 SF

      Pensacola Office Space - 9th Ave

      1268 SF Office, High Visibility, Pensacola
      4731 N 9th Ave, Pensacola, FL 32503
      View Details
    • $3,000 /Mo
      1,600 SF

      Prime Pensacola Office Space

      1600 sq ft office, Cordova Square. NNN Lease.
      4400 Bayou Blvd, Pensacola, FL 32503
      View Details
    • $11 SF/Yr
      24,200 SF

      Pensacola Retail Space Sublease

      Prime Pensacola location, 24,200 SF, ideal for various uses.
      84 W Airport Blvd, Pensacola, FL 32503
      View Details
    • $25 SF/Yr
      1,759 SF

      Prime East Hill Retail Space

      1,759 SF Retail, NNN Lease, High Visibility
      3419 N 12th Ave, Pensacola, FL 32503
      View Details
    • $975 /Mo
      152 SF

      Pensacola Office Suite - 152 SF

      Prime Pensacola office space, fully serviced, ideal for small business.
      2810 E Cervantes St, Pensacola, FL 32503
      View Details
    • $15 SF/Yr
      2,700 SF

      Pensacola Office Space For Lease

      Flexible Office Suites in Prime Location
      3298 Summit Blvd, Pensacola, FL 32503
      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.
    402 Okaloosa Ave
    Pensacola, FL 32503-7822
    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.