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

    428 Airport Blvd Pensacola, FL 32503-7865

    • Assisted living facilities
    • 110,697 SF
    • 2.84 lot acres
    OFF-MARKET
    Last Sale
    Dec 05, 2023
    $21,030,200
    Value Estimations
    $21,590,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5220481
    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

    • Gary John D MD / Physician
    • The Blake at Pensacola / Nursing Home / Retirement Community
    • The Well / Alternative Medicine Practice / Spa & Massage Center

    Property Details for 428 Airport Blvd

    Year built
    2018
    Construction
    WOOD
    Lot size
    2.84 lot acres
    Property size
    110,697 SF
    Zone code
    COM
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    35-1S-30-7204-000-000
    APU
    351S307204000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $17,325,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $22,704,000
      Market price range: $2.88M - $40.5M

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $21,640,000
      Current use
      RESTAURANT
      $34,610,000
      Change: +60% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $20,130,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    County
    Escambia
    State
    Florida
    Longitude
    -87.2258
    Latitude
    30.4824
    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
    $176,857
    $681,600
    $12,235,354
    $12,916,954
    -
    $681,600
    $12,235,354
    $12,916,954

    Comparable in this City

    • Value Estimation
      $740,000
      12,620 SF

      3101 Davis Hwy

      HOMES (RETIRED, NURSING) • 12,620 SF
      3101 Davis Hwy, Pensacola, FL 32503-3558
      View Details
    • Value Estimation
      $7,670,000
      64,267 SF

      5918 Davis Hwy

      HOMES (RETIRED, NURSING) • 64,267 SF
      5918 Davis Hwy, Pensacola, FL 32503-2050
      View Details
    • Value Estimation
      $1,330,000
      9,652 SF

      875 Royce St

      HOMES (RETIRED, NURSING) • 9,652 SF
      875 Royce St, Pensacola, FL 32503-2461
      View Details
    • Value Estimation
      $13,200,000
      15,519 SF

      1900 Smt Blvd

      HOMES (RETIRED, NURSING) • 15,519 SF
      1900 Smt Blvd, Pensacola, FL 32503-3359
      View Details
    • Value Estimation by Request

      5,854 SF Prime East Hill Vacant Lot For Sale: Build Your Vision in Pensacola's Most Vibrant Neighborhood

      5,854 SF Prime East Hill Vacant Lot For Sale: Build Your Vision in Pensacola's Most Vibrant Neighborhood
      1116 E Fisher St, Pensacola, FL 32503
      View Details
    • Value Estimation by Request
      1.15 Acres

      518 Royce St

      Land • 1.15 Acres
      518 Royce St, Pensacola, FL 32503
      View Details

    Similar Nearby for Sale

    • $1,225,000
      4,000 SF

      Pensacola Medical Office Building

      Prime Cordova Location, 4000+ SF
      540 Fontaine St, Pensacola, FL 32503
      View Details
    • $799,000
      3,586 SF

      Prime Pensacola Medical Office

      Vacant, renovated medical building. High-traffic location.
      4850 9Th Ave, Pensacola, FL 32503
      View Details
    • $395,000
      2,558 SF

      Pensacola Medical Office Building

      Prime Location, Updated Space, High Visibility
      5500 N Davis Hwy, Pensacola, FL 32503
      View Details
    • $23,500,000
      142,234 SF

      Pensacola Warehouse Redevelopment

      Class A industrial complex, 100% occupied.
      257 Amber St, Pensacola, FL 32503
      View Details
    • Contact for pricing
      56,000 SF

      Prime Pensacola Hotel Investment

      New Cambria Suites, High ROI
      407 Airport Blvd, Pensacola, FL 32503
      View Details
    • $950,000
      1,384 SF

      Pensacola Gas Station Investment

      Prime location, high traffic, ready to operate.
      2015 9Th Ave, Pensacola, FL 32503
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      6,249 SF

      Pensacola Office Space for Lease

      Flexible workspace solutions in Pensacola, FL.
      545 Brent Ln, Pensacola, FL 32503
      View Details
    • $18 SF/Yr
      6,972 SF

      Pensacola Medical Office Space

      Prime Medical Office, Ample Parking
      2441 9Th Ave, Pensacola, FL 32503
      View Details
    • $16 SF/Yr
      116,118 SF

      Forest Oaks Plaza Retail Space

      Grocery-anchored center; prime Pensacola location.
      5007 Davis Hwy, Pensacola, FL 32503
      View Details
    • $18 SF/Yr
      729 SF

      Pensacola Retail Space - 729 SF

      Class-A retail space, prime location, high traffic.
      85 W Airport Blvd, Pensacola, FL 32503
      View Details
    • $16 SF/Yr
      1,457 SF

      Pensacola Retail Space For Lease

      High-traffic location, 1,457 sq ft retail space.
      5007 Davis Hwy, Pensacola, FL 32503
      View Details
    • $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
    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.
    428 Airport Blvd
    Pensacola, FL 32503-7865
    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.