Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    5241 Gulf Breeze Pkwy Gulf Breeze, FL 32563-9336
    Property profile & analytics

    5241 Gulf Breeze Pkwy, Gulf Breeze, FL 32563-9336

    View on Map
    • Retail space
    • 14,625 SF
    • 1.97 lot acres
    Off-Market
    Last Sale Nov 12, 2021
    Property ID
    US18-4320674
    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.
    Value Estimations
    $575,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 5241 Gulf Breeze Pkwy

    Year built
    1976
    Construction
    STEEL FRAME
    Lot size
    1.97 lot acres
    Zone code
    HCD
    Property type
    Retail space
    APN
    24-2S-28-1150-00100-0160
    APU
    242S281150001000160

    Description

    This 12,048 square foot shopping center in Gulf Breeze, Florida, presents a compelling value-add opportunity. Located on Gulf Breeze Parkway, this single-story, 1976-built property underwent renovations in 2024, including electrical, flooring, and roof upgrades. Currently 100% occupied by five tenants under NNN leases, the property offers significant upside potential by adjusting lease rates to market values ($17-$29/SF NNN). The 1.97-acre lot includes 30 on-site parking spaces and a rear laydown area for convenient deliveries and storage. The HCD zoning allows for flexibility, and there's potential for assemblage with an adjacent 0.98-acre parcel (not currently for sale). The property benefits from a strong location in a thriving commercial corridor with high traffic counts (35,500 CPD) and robust surrounding business activity and high average home values. Financial data for the surrounding 5-mile radius shows 766 businesses employing 5,259 people, with total sales exceeding $1.2 billion through June 2024. This well-maintained center is ideal for investors seeking to capitalize on a tight leasing market and strong local economy. The asking price is $2,500,000 ($207.50/SF).

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $469,000
      Market price range: $469k - $1.17M

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

    Location Insight

    • Map
    • Local Demand
    City
    Gulf Breeze
    County
    Santa Rosa
    State
    Florida
    Longitude
    -87.0042
    Latitude
    30.3984
    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
    $4,837
    $256,500
    $141,219
    $397,719
    -
    $256,500
    $141,219
    $397,719

    Comparable in this City

    • Value Estimation
      $2,345,000
      25,848 SF

      3070 Gulf Breeze Pkwy

      RETAIL STORES (PERSONAL SERVICES)
      3070 Gulf Breeze Pkwy, Gulf Breeze, FL 32563-3246
      View Details
    • Value Estimation
      $980,000
      9,760 SF

      3174 Gulf Breeze Pkwy

      RETAIL STORES (PERSONAL SERVICES)
      3174 Gulf Breeze Pkwy, Gulf Breeze, FL 32563-3248
      View Details
    • Value Estimation
      $2,160,000
      7,150 SF

      3781 Gulf Breeze Pkwy

      RETAIL STORES (PERSONAL SERVICES)
      3781 Gulf Breeze Pkwy, Gulf Breeze, FL 32563-3528
      View Details
    • Value Estimation
      $725,000
      6,849 SF

      2731 Gulf Breeze Pkwy

      RETAIL STORES (PERSONAL SERVICES)
      2731 Gulf Breeze Pkwy, Gulf Breeze, FL 32563-3081
      View Details
    • Value Estimation by Request
      837 SF

      5080 Gulf Breeze Pkwy

      STORE, RETAIL OUTLET
      5080 Gulf Breeze Pkwy, Gulf Breeze, FL 32563-9339
      View Details
    • Value Estimation
      $725,000
      9,600 SF

      2975 Gulf Breeze Pkwy

      STORE, RETAIL OUTLET
      2975 Gulf Breeze Pkwy, Gulf Breeze, FL 32563-3147
      View Details

    Similar Nearby for Sale

    • $1,145,000
      4,500 SF

      Gulf Breeze Retail Investment Opportunity

      4,500 SF retail property in high-traffic Gulf Breeze location.
      3113 Gulf Breeze Pkwy, Gulf Breeze, FL 32563
      View Details
    • $64,900
      Pending

      Vacant Lot in Gulf Breeze

      Build your dream home on this high and dry lot.
      Congress St, Gulf Breeze, FL 32563
      View Details
    • $260,000

      Land For Sale

      Land available for purchase.
      1628 Kauai Ct, Gulf Breeze, FL 32563
      View Details
    • Contact for pricing

      Commercial Land Parcel For Sale

      0.55 AC commercial land parcel in Midway/Navarre area.
      6315 Gulf Breeze Pkwy, Gulf Breeze, FL 32563
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,200 SF

      Retail Space on Gulf Breeze Parkway

      Retail development with high visibility and affluent demographics.
      2816 Gulf Breeze Pkwy, Gulf Breeze, FL 32563
      View Details
    • Contact for pricing
      1,612 SF

      Retail Space in Publix-Anchored Center

      Retail space available in a busy, established shopping center.
      1430 Tiger Park Ln, Gulf Breeze, FL 32563
      View Details
    • Contact for pricing
      837 SF

      Retail Space on Highway 98

      Retail space with high visibility and easy access.
      5080 Gulf Breeze Pkwy, Gulf Breeze, FL 32563
      View Details
    • Contact for pricing

      Retail Space in Gulf Breeze

      Retail space with high visibility and co-tenancy with ALDI.
      3319 Gulf Breeze Pkwy, Gulf Breeze, FL 32563
      View Details
    • Contact for pricing

      Gulf Breeze Retail/Office Space

      Retail or office space for lease in Gulf Breeze, Florida.
      2560 Gulf Breeze Pkwy, Gulf Breeze, FL 32563
      View Details
    • Contact for pricing
      2,591 SF

      Gulf Breeze Retail/Office Space

      Retail or office space with ample parking and high visibility.
      2558 Gulf Breeze Pkwy, Gulf Breeze, FL 32563
      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.
    5241 Gulf Breeze Pkwy
    Gulf Breeze, FL 32563-9336
    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

    Thank You for Inquiry
    5241 Gulf Breeze Pkwy, Gulf Breeze, FL, 32563
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!