New Construction
For Sale
$410,000
Pending
8721 Figland Ave, Pensacola, FL 32514
Residential Income, Pensacola, FL
Property Size2,398 SF
Days on Market26
Property Features for 8721 Figland Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Lot features
Central Access
Elementary school
Lincoln Park
Middle school
BEULAH
High school
Pine Forest
Directions
Highway 29 to W Detroit Blvd, Take W Detroit Blvd to Figland Ave. Take Figland Ave North to the unit on the left.
Standard status
Pending
APN
111S301901001016
Size
2,398 SF
Taxes and HOA fees
Tax Description
LTS 1 TO 5 BLK 16 ENSLEY PLAT DB 87 P 244 OR 9527 P 1358
Legal Description
LTS 1 TO 5 BLK 16 ENSLEY PLAT DB 87 P 244 OR 9527 P 1358
Utilities
Heating system
Heat Pump (Heating), Central
Amenities
granite countertops
tile flooring
Building Details
Year built
2026
Number of units
2
Roof type
Shingle
Listing Agency:
Ross And Co.
(850) 807-4060
Listed By:
Lawrence Bonck · License #11244
(850) 499-1103
Added: Aug 13
Changed: Sep 5
Last Checked: Sep 7 at 5:06AM
MLS# 687426
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.
Investment Insights
Based on property information with market context.
This duplex is under construction with 2,398 square feet of property size and a scheduled 2026 build year. Interior specifications include granite countertops in the kitchen and bathrooms, along with tile flooring throughout both units. A 10-year structural builders' warranty is also noted.
The property is located at 8721 Figland Ave in Pensacola, Florida 32514. Heating is provided by a central heat pump system, and the building is designed with a shingle roof. Finish colors and selected options may vary from the representative photos referenced in the property information.
The property is located at 8721 Figland Ave in Pensacola, Florida 32514. Heating is provided by a central heat pump system, and the building is designed with a shingle roof. Finish colors and selected options may vary from the representative photos referenced in the property information.
Key Highlights
- 2,398 square feet of property size
- Under construction with a 2026 build year
- Granite countertops planned for kitchens and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,601
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.76%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$472,020
$472.0K
Cap Rate 7%
$337,157
$337.2K
Cap Rate 9%
$262,233
$262.2K
Market Conditions
NOI Build-Up for 2,398 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$38.8K $16.20/SF
− Vacancy
−$5.1K −$2.14/SF
EGI
$33.7K $14.06/SF
− OpEx
−$10.1K −$4.22/SF
NOI
$23.6K $9.84/SF
Area
Escambia County, FL
Vacancy
13.21%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$472,020
Cap Rate 7%
$337,157
Cap Rate 9%
$262,233
Alternative Uses
Best Use
Multifamily LT 5
$337.2K
$295.0K – $393.4K
NOI $23,601 @ 7.0% cap · market cap 5.76%
Second Best
Apartment 5plus
$309.5K
$270.8K – $361.1K
NOI $21,667 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$703.8K
$615.8K – $821.1K
NOI $49,265 @ 7.0% cap · market cap 12.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
599
Businesses Nearby
Explore this area
Business Placement
Demographics for 32514, FL
40,844
Population
19,117
Households
2.1
Avg Household Size
39
Median Age
33%
College-Educated
91%
High-School Grad
19.8 sq mi
ZIP Area
2,063
Density / Sq Mi
$66,484
Median Household Income
$36,178
Median Earnings
$1,358
Median Rent
$241,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Under-construction duplex with granite countertops and tile flooring throughout the units.
Where is this duplex located?
The property is located at 8721 Figland Ave Pensacola, FL.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: 2,398 square feet of property size; Under construction with a 2026 build year; Granite countertops planned for kitchens and bathrooms
