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Property profile & analytics
OFF-MARKET
Estimated value
$1,200,000
Outlet malls
4139 Davis Hwy, Pensacola, FL 32503-2749
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-0217743
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1998
Construction
TYPE NOT SPECIFIED
Total area
16,168 SF
Lot
0.96 ac (41,818 SF)
Zoning code
C-3
APN
05-2S-30-2003-000-000
UPID
US18-0217743
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
-
Merritt Glass Company, Inc. Hardware & Home Improvement Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.20M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.09M
Blend (final)
Blend
$1.20M
Owner & transaction history
Jfn Properties LLC · 2 yrs held
Jfn Properties LLC
since 2024
Last sale
$1.2M
3 recorded transactions
Zoning & alternative use
C-3 · Pensacola, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$1.9M
+0.8%
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
$1,200,000
ML approach
$1,200,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,905,000
Current use
INDUSTRIAL (GENERAL)
$1,920,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$1.20M
Range $1.08M – $1.32M · ±10% · vs last sale $1.20M (Jan 17 2024)
Last sale anchor
$1.20M
Jan 17 2024
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
$74 / 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
$11,696
Tax year 2023
Assessed value
$660,378
Assessed 2023
Previous assessed
$608,076
+8.6% YoY
Effective rate
1.77%
On assessed value
Land market value
$124,409
Improvement market value
$542,607
Total market value
$667,016
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1998
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
NONE
Stories
1
Bathrooms
1
Total area
16,168 SF
Lot
0.96 ac (41,818 SF)
Zoning code
C-3
APN
05-2S-30-2003-000-000
UPID
US18-0217743
Jurisdiction
ESCAMBIA
Zoning & alternative use
C-3 · Pensacola, FL
Zoning 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
Pensacola. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.9M
INDUSTRIAL (GENERAL)
Est. value
$1.9M
RETAIL STORES Current
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
1998
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.96 ac
Current owner
From public records · entity-resolved
Jfn Properties LLC
Entity
Mailing address
3331 BERKSHIRE CT, PENSACOLA, FL 32504-4900
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 17, 2024
$1,200,000
Jfn Properties LLC
Kenneth L Merritt JR
Warranty Deed
$2,425,000 · Live Oak Banking Company
Jan 21, 2003
$625,000
Kenneth L Merritt
B S & L Partnership
Grant Deed
$552,500 · Bank Of Pensacola
—
—
Kenneth L Merritt JR.
—
Deed Of Trust
related
$184,805 · Servisfirst Bank
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.
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