Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    9409 Hwy 98 Pensacola, FL 32506-6133

    • Community centers
    • 12,077 SF
    • 1.11 lot acres
    OFF-MARKET
    Last Sale
    Jun 04, 2021
    $1,388,000
    Value Estimations
    $1,400,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3798473
    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 9409 Hwy 98

    Year built
    2006
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.11 lot acres
    Property size
    12,077 SF
    Zone code
    COM
    Property type
    Community centers
    APN
    23-2S-31-1101-002-002
    APU
    232S311101002002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,125,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,407,000
      Market price range: $850k - $2.82M
      AI Estimate
      $1,407,000
      Market price range: $850k - $2.82M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,865,000
      Current use
      AUTO REPAIR, GARAGE
      $1,700,000
      Change: -9% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,650,000
      Change: -11% Conversion: Easy
      OFFICE BUILDING
      $1,645,000
      Change: -12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    County
    Escambia
    State
    Florida
    Longitude
    -87.3445
    Latitude
    30.4028
    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
    $12,229
    $0.00
    $0.00
    $874,391
    -
    $193,408
    $680,983
    $874,391

    Comparable in this City

    • Value Estimation
      $3,085,000
      17,500 SF

      4600 Mobile Hwy

      MINI-MALL • 17,500 SF
      4600 Mobile Hwy, Pensacola, FL 32506-3508
      View Details
    • Value Estimation
      $690,000
      5,720 SF

      8200 Hwy 98

      MINI-MALL • 5,720 SF
      8200 Hwy 98, Pensacola, FL 32506-8933
      View Details
    • Value Estimation
      $685,000
      4,885 SF

      9100 Hwy 98

      MINI-MALL • 4,885 SF
      9100 Hwy 98, Pensacola, FL 32506-6162
      View Details
    • Value Estimation
      $4,725,000
      16,965 SF

      50 Blue Angel Pkwy

      MINI-MALL • 16,965 SF
      50 Blue Angel Pkwy, Pensacola, FL 32506-6045
      View Details
    • Value Estimation by Request
      2,023 SF

      7575 Hwy 98

      MINI-MALL • 2,023 SF
      7575 Hwy 98, Pensacola, FL 32506-5939
      View Details
    • Value Estimation
      $590,000
      5,555 SF

      312 New Warrington Rd

      MINI-MALL • 5,555 SF
      312 New Warrington Rd, Pensacola, FL 32506-5855
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      68,045 SF

      Winn-Dixie Anchored Shopping Center

      High-visibility shopping center anchored by Winn-Dixie with box space available.
      50 S Blue Angel Pkwy, Pensacola, FL 32506
      View Details
    • Contact for pricing
      77,247 SF

      Community Shopping Center For Sale

      Community shopping center with high visibility and great access.
      8187 W Fairfield Dr, Pensacola, FL 32506
      View Details
    • $1,439,000
      20,967 SF

      Pensacola Retail Center with Expansion

      Multi-tenant retail center with expansion potential in established corridor.
      6508-6516 W Jackson St, Pensacola, FL 32506
      View Details
    • $2,000,000
      3,213 SF

      Prime Pensacola Commercial Land

      3+ Acres, High-Traffic Location, Redevelopment Opportunity
      4401 Jackson St, Pensacola, FL 32506
      View Details
    • $2,700,000
      18,750 SF

      Pensacola Retail Showroom For Sale

      Retail showroom with warehouse and fenced yard available for sale.
      4825 Mobile Hwy, Pensacola, FL 32506
      View Details
    • $699,000
      5,160 SF

      Prime Pensacola Grocery Store

      Profitable Asian Market, Fully Renovated
      240 New Warrington Rd, Pensacola, FL 32506
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      75,799 SF

      Paradise Square Shopping Center

      Pensacola, FL Retail & Office Space
      4469 Mobile Hwy, Pensacola, FL 32506
      View Details
    • $12 SF/Yr
      1,968 SF

      Retail Space in Pensacola, FL

      Retail space available for lease in Pensacola, Florida.
      4828-4830 W Jackson St, Pensacola, FL 32506
      View Details
    • $20 SF/Yr
      2,450 SF

      Retail Space in Winn-Dixie Center

      Retail space available in well-located, Winn-Dixie anchored shopping center.
      23-38 S Blue Angel Pkwy, Pensacola, FL 32506
      View Details
    • $7 SF/Yr
      2,000 SF

      Retail Space Available in Pensacola

      Retail space available in established Pensacola shopping center.
      8187 W Fairfield Dr, Pensacola, FL 32506
      View Details
    • $14 SF/Yr
      7,900 SF

      Retail Suites on Fairfield Drive

      Retail suites available in Pensacola with high traffic exposure.
      6100 W Fairfield Dr, Pensacola, FL 32506
      View Details
    • Contact for pricing
      1,200 SF

      Retail Development Near Naval Air

      Retail spaces available in Pensacola near major landmarks.
      9500 Highway 98 W, Pensacola, FL 32506
      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.
    9409 Hwy 98
    Pensacola, FL 32506-6133
    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

    Google sign-in failed. Please try again or use another login method.