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    4215 N P street Pensacola, FL 32505
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    4215 N P street Pensacola, FL 32505

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    • Office properties & Spaces
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    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Etheridge Construction Inc / General Contractor
    • Solid Roofing, Inc. / Roofing Company / General Contractor

    Property Details for 4215 N P street

    Property type
    Office properties & Spaces

    Description

    Exceptional investment opportunity in Pensacola, Florida. This 1.55-acre property boasts 240 feet of road frontage in Escambia County's industrial zone, zoned HC/LI. The site includes three relatively new warehouses totaling 4100 square feet, featuring ample storage and multiple roll-up doors. A newly renovated 1400+ square foot office building offers three private offices, an executive office with a full bath, a break area, and two additional bathrooms (one full, one half). The property also includes a residential house, currently habitable, though some updates may be desired. The entire 5529 square foot site is secured by a six-foot fence (combination chain-link and privacy). Ample parking and a sizable lay-down yard are available. Enjoy convenient access to major thoroughfares, including Pace Boulevard, Palafox Street, and W Street. This versatile property presents a unique blend of industrial and residential uses, ideal for owner-occupancy or investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    County
    State
    Florida

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      9,100 SF

      Versatile Commercial Building in Pensacola

      9,100 SF building suitable for retail, flex, or industrial use.
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    Similar Nearby for Sale

    • Contact for pricing
      36,665 SF

      Pensacola Distribution Building For Sale

      Class A distribution building with office and warehouse space.
      6020 Enterprise Dr, Pensacola, FL 32505
      View Details
    • $750,000
      7,520 SF

      Pensacola Industrial Property For Sale

      Versatile Pensacola warehouse, office, and laydown yard.
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    • Contact for pricing
      8,456 SF

      Distribution Site on Main Highway

      Visible distribution site on Fairfield Drive, Pensacola, Florida.
      2400 W Fairfield Dr, Pensacola, FL 32505
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    • $585,000
      4,776 SF

      Functional Warehouse Space For Sale

      4,776 SF warehouse with flexible space and convenient location.
      3603 N Q St, Pensacola, FL 32505
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    • $3,500,000
      12,000 SF

      Pensacola Warehouse with Cold Storage

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      Versatile Commercial Building in Pensacola

      9,100 SF building suitable for retail, flex, or industrial use.
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      23,800 SF

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      9,000 SF

      Move-in Ready Office/Warehouse Space

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    Pensacola, FL 32505
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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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    4215 N P street, Pensacola, FL, 32505
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