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

    6715 Hwy 98 Pensacola, FL 32506-5923

    • Office buildings
    • 8,810 SF
    • 0.81 lot acres
    OFF-MARKET
    Value Estimations
    $995,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US19-0715950
    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

    • Office buildings

    Property Details for 6715 Hwy 98

    Year built
    1993
    Construction
    WOOD
    Lot size
    0.81 lot acres
    Property size
    8,810 SF
    Zone code
    HDR
    Property type
    Office buildings
    APN
    21-2S-31-1309-000-001
    APU
    212S311309000001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $993,000
      Market price range: $748k - $1.73M
      AI Estimate
      $993,000
      Market price range: $748k - $1.73M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,200,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,360,000
      Change: +13% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,240,000
      Change: +3% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,205,000
      Change: +1% Conversion: Easy
      RETAIL STORES
      $1,070,000
      Change: -11% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $1,045,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    County
    Escambia
    State
    Florida
    Longitude
    -87.304
    Latitude
    30.3969
    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
    $11,210
    $0.00
    $0.00
    $810,457
    -
    $97,031
    $713,426
    $810,457

    Comparable in this City

    • Value Estimation
      $890,000
      10,478 SF

      7555 Hwy 98

      OFFICE BUILDING • 10,478 SF
      7555 Hwy 98, Pensacola, FL 32506-8932
      View Details
    • Value Estimation by Request
      1,762 SF

      7702 Fairfield Dr

      OFFICE BUILDING • 1,762 SF
      7702 Fairfield Dr, Pensacola, FL 32506-3646
      View Details
    • Value Estimation by Request
      1,879 SF

      7051 Fairfield Dr

      OFFICE BUILDING • 1,879 SF
      7051 Fairfield Dr, Pensacola, FL 32506-3311
      View Details
    • Value Estimation
      $1,200,000
      10,148 SF

      321 Fairfield Dr

      PROFESSIONAL BUILDING • 10,148 SF
      321 Fairfield Dr, Pensacola, FL 32506-4990
      View Details
    • Value Estimation by Request
      1,957 SF

      1045 Fairfield Dr

      OFFICE BUILDING • 1,957 SF
      1045 Fairfield Dr, Pensacola, FL 32506-8927
      View Details
    • Value Estimation by Request
      956 SF

      7055 Fairfield Dr

      OFFICE BUILDING • 956 SF
      7055 Fairfield Dr, Pensacola, FL 32506-3311
      View Details

    Similar Nearby for Sale

    • $3,995,000
      22,503 SF

      Pensacola Class A Office Space

      Modern Office Building, 22,503 SF, Pensacola
      21 N New Warrington Rd, Pensacola, FL 32506
      View Details
    • $3,795,000
      21,928 SF

      Pensacola Class A Office Building

      Renovated office building near Pensacola Naval Air Station.
      21 N New Warrington Rd, Pensacola, FL 32506
      View Details
    • $200,000

      Versatile Commercial Building on Fairfield

      1,271 SF building suitable for office or retail use.
      599 N Fairfield Dr, Pensacola, FL 32506
      View Details
    • $400,000
      3,352 SF

      Turnkey Medical Office Investment

      Leased medical office with potential for owner-user or investor.
      901 N New Warrington Rd, Pensacola, FL 32506
      View Details
    • $250,000

      Freestanding Commercial Building For Sale

      1,008 SF building on 0.72-acre lot with high-traffic frontage.
      4980 Mobile Hwy, Pensacola, FL 32506
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    • $318,000
      1,062 SF

      Office Space on Quarter Acre

      Office property with ample space and high-traffic exposure.
      238 N New Warrington Rd, Pensacola, FL 32506
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      21,928 SF

      10,825 - 21,928 SF Office For Sale/Lease - Pensacola Class A Office (Floor 1 and 2, Suite 100)

      10,825 - 21,928 SF Office For Sale/Lease - Pensacola Class A Office (Floor 1 and 2, Suite 100)
      21 N New Warrington Rd, Pensacola, FL 32506
      View Details
    • $16 SF/Yr
      1,100 SF

      Flexible Retail/Office Space Available

      Suites with private offices, open workspaces, restrooms, and rear access.
      5022 W Fairfield Dr, Pensacola, FL 32506
      View Details
    • $2,000 /Mo
      3,496 SF

      5406 Lillian Hwy, Pensacola, FL

      Office space • 3,496 SF
      5406 Lillian Hwy, Pensacola, FL 32506
      View Details
    • $11 SF/Yr

      Prime Pensacola Retail Space

      Newly renovated 4,750 SF end-cap suite. Low market rate.
      6508 - 6516 W Jackson St, Pensacola, FL 32506
      View Details
    • $3,500 /Mo
      33,794 SF

      Pensacola Commercial Redevelopment Site

      0.94-acre site, high-traffic location, adaptive reuse.
      4955 Mobily Hwy, Pensacola, FL 32506
      View Details
    • $8,500 /Mo
      15,405 SF

      Warehouse and Offices with Yard

      Spacious warehouse and office space with high visibility.
      9133 Highway 98 W, Pensacola, FL 32506
      View Details
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    6715 Hwy 98
    Pensacola, FL 32506-5923
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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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