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

    6121 Davis Hwy Pensacola, FL 32504

    • Community centers
    • 42,345 SF
    • 12.26 lot acres
    For Lease
    View listing
    Last Sale
    Oct 19, 2022
    $13,250,000
    Value Estimations
    $11,595,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1038141
    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

    • Community centers

    Property Details for 6121 Davis Hwy

    Year built
    1986
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    12.26 lot acres
    Property size
    42,345 SF
    Zone code
    C-1
    Property type
    Community centers
    APN
    34-1S-30-3101-000-000
    APU
    341S303101000000

    Description

    Pensacola Square, located at 6121 N Davis Hwy, Pensacola, FL 32504, offers a prime retail opportunity in a high-traffic location. This single-story, 135,072 square foot retail center, built in 1986 and renovated in 2005, boasts 465 parking spaces. Currently, there are 7 available spaces ranging from 1,200 to 40,586 square feet, with a total of 10,337 square feet currently vacant. The largest contiguous space available is 3,300 square feet. The center benefits from a strong tenant mix including national co-tenants such as Big Lots, Bealls Outlet, Hobby Lobby, Books-A-Million, Rainbow, Petland, and American Freight, ensuring high visibility and foot traffic. Situated on a major retail thoroughfare, North Davis Highway, the property enjoys exceptional daily traffic counts of 37,000 cars. This presents a unique opportunity for businesses seeking high visibility and access to a substantial customer base in a well-established retail center. The property's size and configuration offer flexibility for a variety of retail uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $11,690,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,440,000
      6.5%
      $7,790,000
      7%
      $7,235,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $9,897,000
      Market price range: $2.98M - $9.90M
      AI Estimate
      $9,897,000
      Market price range: $2.98M - $9.90M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $13,240,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    County
    Escambia
    State
    Florida
    Longitude
    -87.2247
    Latitude
    30.4875
    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
    $171,891
    $0.00
    $0.00
    $9,540,987
    -
    $2,752,500
    $6,788,487
    $9,540,987

    Comparable in this City

    • Value Estimation
      $2,455,000
      10,500 SF

      6859 9th Ave

      MINI-MALL • 10,500 SF
      6859 9th Ave, Pensacola, FL 32504-7349
      View Details
    • Value Estimation
      $1,745,000
      11,007 SF

      6224 9th Ave

      MINI-MALL • 11,007 SF
      6224 9th Ave, Pensacola, FL 32504-8294
      View Details
    • Value Estimation
      $870,000
      3,150 SF

      6707 Plantation Rd, Unit A

      MINI-MALL • 3,150 SF
      6707 Plantation Rd, Pensacola, FL 32504-6214
      View Details
    • Value Estimation by Request
      45,804 SF

      6251 Davis Hwy

      MINI-MALL • 45,804 SF
      6251 Davis Hwy, Pensacola, FL 32504-6966
      View Details
    • Value Estimation
      $8,750,000
      37,440 SF

      6901 9th Ave

      MINI-MALL • 37,440 SF
      6901 9th Ave, Pensacola, FL 32504-6670
      View Details
    • Value Estimation
      $550,000
      6,044 SF

      6912 9th Ave

      MINI-MALL • 6,044 SF
      6912 9th Ave, Pensacola, FL 32504-6637
      View Details

    Similar Nearby for Sale

    • $1,500,000
      4,551 SF

      Prime Pensacola Restaurant/Retail

      High-traffic location, drive-thru, ample parking.
      7130 N Davis Hwy, Pensacola, FL 32504
      View Details
    • $240,000
      852,837 SF

      Pensacola Dessert Shop for Sale

      Thriving Frozen Yogurt & Boba Tea Business
      5100 N 9th Ave, Pensacola, FL 32504
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    • $399,000
      2,000 SF

      Prime Pensacola Retail Building

      Profitable Investment Opportunity in Pensacola, FL
      1734 Creighton Rd, Pensacola, FL 32504
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    • $900,000

      Pensacola C-Store / Gas Station

      C-Store / Gas Station at 1167 COLLEGE Blvd, Pensacola, FL
      1167 College Blvd, Pensacola, FL 32504
      View Details
    • $399,000

      Retail Building with Lease in Place

      2,000 SF retail building leased through February 2025.
      1734 Creighton Rd, Pensacola, FL 32504
      View Details
    • $1,553,664
      4,122 SF

      Prime Pensacola Restaurant Investment

      Net lease, strong tenant, high traffic location.
      6501 N Davis Hwy, Pensacola, FL 32504
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      169,486 SF

      Cordova Commons Retail Space

      Pensacola Shopping Center: 18,000 SF Available
      1690 Airport Blvd, Pensacola, FL 32504
      View Details
    • $22 SF/Yr
      1,600 SF

      Pensacola Retail Space - 1600 SF

      Prime Pensacola retail space available. High visibility, ample parking.
      6601 N Davis Hwy, Pensacola, FL 32504
      View Details
    • $22 SF/Yr
      2,760 SF

      Pensacola Retail Space Available

      Prime 2,760 SF Retail Space in Tradewinds
      6601 N Davis Hwy, Pensacola, FL 32504
      View Details
    • $17 SF/Yr
      3,528 SF

      Pensacola Retail Space For Lease

      Creighton Commons: High-traffic retail space available.
      2620 Creighton Rd, Pensacola, FL 32504
      View Details
    • $17 SF/Yr
      23,760 SF

      Creighton Commons Retail Center

      Pensacola Retail Space: High Traffic, Great Visibility
      2620 Creighton Rd, Pensacola, FL 32504
      View Details
    • $1.00 SF/Yr
      46,829 SF

      Retail Space in University Town

      Open-air retail destination anchored by major national tenants.
      7171 N Davis Hwy, Pensacola, FL 32504
      View Details
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    6121 Davis Hwy
    Pensacola, FL 32504
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    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
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