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Property profile & analytics
OFF-MARKET
Estimated value
$1,230,000
Turn key restaurants
509 Palafox St Pensacola, FL 32502-5932
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US19-0341259
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,401 SF
Lot
0.13 ac (5,731 SF)
Zoning code
SPBD
APN
00-0S-00-9100-130-025
UPID
US19-0341259
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
-
Ruby Slipper Restaurant Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.23M
Blend (final)
Blend
$1.23M
Owner & transaction history
South Palafox Annex LLC · 6 yrs held
South Palafox Annex LLC
since 2020
4 recorded transactions
Zoning & alternative use
SPBD · Pensacola, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The South Palafox business district is established to promote the compatible redevelopment of the city's historic downtown waterfront by encouraging high quality site planning and architectural design that is compatible with both the historic character of the existing structures and the waterfront activities. The zoning regulations are intended to help avoid…
Zone name
South Palafox Business District
General category
COMMERCIAL
Zone area
8.52 ac
Source
Realmo
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.23M
Range $1.11M – $1.35M · ±10%
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
$228 / 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
$10,304
Tax year 2023
Assessed value
$595,575
Assessed 2023
Previous assessed
$599,797
-0.7% YoY
Effective rate
1.73%
On assessed value
Land market value
$200,585
Improvement market value
$415,689
Total market value
$616,274
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Bathrooms
1
Total area
5,401 SF
Lot
0.13 ac (5,731 SF)
Zoning code
SPBD
APN
00-0S-00-9100-130-025
UPID
US19-0341259
Jurisdiction
ESCAMBIA
Zoning & alternative use
SPBD · Pensacola, FLZoning SPBD · permitted uses
SPBD · Pensacola, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The South Palafox business district is established to promote the compatible redevelopment of the city's historic downtown waterfront by encouraging high quality site planning and architectural design that is compatible with both the historic character of the existing structures and the waterfront activities. The zoning regulations are intended to help avoid excessive building height and mass and vehicular congestion.
Zone name
South Palafox Business District
General category
COMMERCIAL
Zone area
8.52 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.13 ac
Current owner
From public records · entity-resolved
South Palafox Annex LLC
Entity
Mailing address
PO BOX 12068, PENSACOLA, FL 32591-2068
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 31, 2020
—
South Palafox Annex LLC
—
Deed
related
$122,304 · Synovus Bk
—
—
South Palafox Annex LLC
—
Deed Of Trust
related
$356,250 · Coastal Bk&tr
—
—
South Palafox Annex LLC
—
Loan Modification
related
$400,000 · Coastal Bk&tr
—
—
South Palafox Annex LLC
—
Loan Modification
related
$122,304 · Synovus Bk
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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