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Property profile & analytics
FOR LEASE
Flex space
9133 Highway 98 W Pensacola, FL 32506
Entity Owned
11-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-8735769
For Lease
1 / 2
$7,500/Mo
9133 Highway 98 W, Pensacola, FL 32506
View Listing →
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1981
Construction
TYPE NOT SPECIFIED
Total area
15,234 SF
Lot
1.86 ac (81,022 SF)
Zoning code
HC/LI
APN
23-2S-31-1202-001-001
UPID
US18-8735769
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
$1.50M
Blend (final)
Blend
$1.50M
Owner & transaction history
Business Space LLC · 11 yrs held
Business Space LLC
since 2015
2 recorded transactions
Zoning & alternative use
HC/LI · Pensacola, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.4M
+30.0%
Auto repair, garage
$2.1M
+18.5%
Commercial (general)
$2.1M
+15.2%
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
INDUSTRIAL (GENERAL)
$1,810,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,350,000
Change: +30% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,145,000
Change: +19% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,085,000
Change: +15% · Conversion: Difficult
OFFICE BUILDING
$2,075,000
Change: +15% · Conversion: Difficult
RETAIL STORES
$1,845,000
Change: +2% · Conversion: Moderate
Blend value · Realmo final
$1.50M
Range $1.35M – $1.64M · ±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
$98 / 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
$7,877
Tax year 2023
Assessed value
$534,315
Assessed 2023
Previous assessed
$485,741
+10.0% YoY
Effective rate
1.47%
On assessed value
Land market value
$139,500
Improvement market value
$406,028
Total market value
$545,528
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
For Lease
Year built
1981
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
NONE
Stories
1
Bathrooms
1
Total area
15,234 SF
Lot
1.86 ac (81,022 SF)
Zoning code
HC/LI
APN
23-2S-31-1202-001-001
UPID
US18-8735769
Jurisdiction
ESCAMBIA
Zoning & alternative use
HC/LI · Pensacola, FL
Zoning HC/LI · permitted uses
HC/LI · Pensacola, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Pensacola. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$2.1M
OFFICE BUILDING
Est. value
$2.1M
RETAIL STORES
Est. value
$1.8M
INDUSTRIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
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
1981
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
Yes
Stories
1
Bathrooms
1
Lot
1.86 ac
Current owner
From public records · entity-resolved
Business Space LLC
Entity
Mailing address
1129 LAGUNA LN, GULF BREEZE, FL 32563-3325
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
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
Jun 5, 2015
$202,500
Business Space LLC
Joyce F Johnson
Warranty Deed
$250,000 · Servisfirst Bank
—
—
Joyce F Johnson
—
Deed Of Trust
related
$25,000 · Amsouth 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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