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    1111 Polk Ave Pensacola, FL 32507

    Sponsored
    For Sale
    $263,000

    Triplex - Pensacola, FL

    Type:Triplex
    Property size:
    638 SF
    Days on Market:
    2
    Last Refresh:
    Jan 29 at 12:06 am

    Property Features for 1111 Polk Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Triplex
    Standard status
    Active
    APN
    352S311000170125
    Parking features
    Driveway
    Size
    638 SF

    Building Details

    Year built
    1980
    Floors in Building
    1
    Number of units
    3
    Architectural style
    Other

    We can help!

    Listing Contact
    Ty Havard

    First Town Properties LLC (850) 316-8700

    Listing agent Ty Havard (850) 316-8700

    Listing date Jan 28, 2026

    MLS# 672271 Listing URL

    Copyright © 2026 Pensacola Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Pensacola Triplex with Rental Income

    This brick triplex in Pensacola, Florida, features three one-bedroom units, each with 638 square feet. Each unit includes a kitchen open to the living room, a dining area, a bedroom with a walk-in closet, a covered back patio, and a utility room with washer/dryer hookups. A wide, paved driveway provides parking space for six to nine cars. The surrounding neighborhood features new construction, including houses directly next door. The roof has a no-leak warranty for 5 years, due to a recent roof coating. A nature reserve with a raised walk path is a short walk away, and the Navy Point waterfront area and boat ramp are a few minutes' drive. All three units are currently rented under leases ending in March 2026, May 2026, and December 2026. One unit, freshly renovated, rents for $995 per month. The other two units rent for $875 per month and could potentially be upgraded to command higher rents. The owner currently pays for water, sewer, and trash, which averaged $244 per month for all three units in 2024. Lawncare, also provided by the owner, averaged $73 per month in 2024. Interior pictures are from the renovated unit.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Aclass Act Cleaning ... House Cleaning Service

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    County
    Escambia
    State
    Florida
    Longitude
    -87.296888
    Latitude
    30.3901

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    FAQs

    What type of property is this?
    Triplex - Brick triplex with three units, all currently rented.
    Where is this triplex located?
    The property is located at 1111 Polk Ave Pensacola, FL.
    What is the asking price?
    The asking price for this property is $263,000.
    What are key features of this property?
    This property features: - Fully rented triplex provides immediate rental income from three units.; - Newly coated roof with a 5-year no-leak warranty.; - One unit recently renovated and renting for $995/month, with potential to increase rents on other units.
    (850) 316-8700
    Request Owner's contact information
    1111 Polk Ave Pensacola, FL 32507
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    Pensacola, FL 32507
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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
    1111 Polk Ave Pensacola, FL 32507
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    We can help!
    Listing Contact
    Ty Havard
    (850) 316-8700
    Learn more
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