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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Retail space
511 9th Ave Pensacola, FL 32501-4938
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US18-4632334
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1976
Construction
TYPE NOT SPECIFIED
Total area
6,742 SF
Lot
0.27 ac (11,750 SF)
Zoning code
OEHC-2
APN
00-0S-00-9025-007-060
UPID
US18-4632334
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$689k
Blend (final)
Blend
$690k
Owner & transaction history
Rigsbee & Co INC · 17 yrs held
Rigsbee & Co INC
since 2009
2 recorded transactions
Zoning & alternative use
OEHC-2 · Pensacola, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Old East Hill preservation zoning districts are established to preserve the existing residential and commercial development pattern and distinctive architectural character of the structures within the district. The regulations are intended to preserve, through the restoration of existing buildings and construction of compatible new buildings, the scale o…
Zone name
Old East Hill Preservation Retail Commercial
General category
COMMERCIAL
Zone area
9.95 ac
Source
Realmo
Top alternative use upside
Neighborhood: shopping center
$1.0M
+12.5%
Auto repair, garage
$950,000
+2.6%
Office building
$925,000
+0.3%
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
Alternative Use
Use
Estimation
RETAIL STORES
$925,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,040,000
Change: +12% · Conversion: Moderate
AUTO REPAIR, GARAGE
$950,000
Change: +3% · Conversion: Difficult
OFFICE BUILDING
$925,000
Change: +0% · Conversion: Easy
COMMERCIAL (GENERAL)
$920,000
Change: 0% · Conversion: Easy
INDUSTRIAL (GENERAL)
$800,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$690k
Range $621k – $759k · ±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
$102 / 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
$8,500
Tax year 2023
Assessed value
$489,304
Assessed 2023
Previous assessed
$478,024
+2.4% YoY
Effective rate
1.74%
On assessed value
Land market value
$152,750
Improvement market value
$336,554
Total market value
$489,304
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1976
Construction
TYPE NOT SPECIFIED
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Bathrooms
2
Total area
6,742 SF
Lot
0.27 ac (11,750 SF)
Zoning code
OEHC-2
APN
00-0S-00-9025-007-060
UPID
US18-4632334
Jurisdiction
ESCAMBIA
Zoning & alternative use
OEHC-2 · Pensacola, FLZoning OEHC-2 · permitted uses
OEHC-2 · Pensacola, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Old East Hill preservation zoning districts are established to preserve the existing residential and commercial development pattern and distinctive architectural character of the structures within the district. The regulations are intended to preserve, through the restoration of existing buildings and construction of compatible new buildings, the scale of the existing structures and the diversity of original architectural styles.
Zone name
Old East Hill Preservation Retail Commercial
General category
COMMERCIAL
Zone area
9.95 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$925,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$950,000
OFFICE BUILDING
Est. value
$925,000
COMMERCIAL (GENERAL)
Est. value
$920,000
INDUSTRIAL (GENERAL)
Est. value
$800,000
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1976
Construction
TYPE NOT SPECIFIED
Heating
CENTRAL
Cooling
Yes
Stories
1
Bathrooms
2
Lot
0.27 ac
Current owner
From public records · entity-resolved
Rigsbee & Co INC
Entity
Mailing address
501 N 9TH AVE, PENSACOLA, FL 32501-4938
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 1, 2009
—
Rigsbee & Co INC
Thompson Brothers INC
Warranty Deed
$468,000 · Coastal Bank & Trust
—
—
Rigsbee & Co INC
—
Deed Of Trust
related
$1,870,000 · Hancock 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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