Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    104 Ellis Dr Pensacola, FL 32507

    View on Map
    Claim this Listing
    For Sale
    $255,000

    MULTI_FAMILY - Pensacola, FL

    Added:
    Mar 27, 2026
    Days on Market:
    43
    Last Refresh:
    May 8 at 6:06 am

    Property Features for 104 Ellis Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    Driveway
    Appliances
    Electric Water Heater, Dryer, Washer
    Standard status
    Active
    APN
    502S30700008003

    Taxes and HOA fees

    Tax Description
    Lot 8 BLK C 1ST ADDN NAVY POINT

    Utilities

    Cooling system
    Multi Units

    Building Details

    Year built
    1948
    Floors in Building
    1
    Number of units
    2
    Building materials
    Frame
    Roof type
    Composition

    We can help!

    Listing Contact
    Pamela Smith

    Listing agent Pamela Smith

    Listing office REAL ESTATE COUNSELORS 5101 N 12th Ave., Pensacola, FL

    Listing date Mar 27, 2026

    MLS# 679975 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.

    HighLights

    • Prime location in the desirable Navy Point area, near downtown Pensacola and Naval Air Station Pensacola.
    • Duplex with two spacious units, each featuring 2 bedrooms and 1 full bath.
    • Great investment opportunity with strong rental income potential.
    • Each unit includes a dedicated washer and dryer in a detached shed.
    • Well‑maintained property.
    • Convenient driveway parking.

    Overview

    Pensacola Duplex in Navy Point

    This well-maintained duplex is located in the desirable Navy Point area. Each of the two spacious units features 2 bedrooms and 1 full bath. For added tenant convenience, there is a washer and dryer for each unit in a detached shed. The property is ideally situated just minutes from Pensacola's vibrant downtown and close to Naval Air Station Pensacola, making it highly attractive to renters. This duplex offers strong potential in a prime location as a reliable rental property or to expand an investment portfolio.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    County
    Escambia
    State
    Florida
    Longitude
    -87.288734
    Latitude
    30.385619

    Nearby Similar for Sale

    • $700,000
      4,122 SF

      New Construction Duplex Investment Opportunity

      Two new duplexes on one parcel, estimated completion August 2026.
      6321 Denver Avenue, Pensacola, FL 32526
      View Details
    • $298,000

      Pensacola Recording Studio for Sale

      Professional recording studio in Pensacola's cultural center.
      908 W Government Street, Pensacola, FL 32502
      View Details
    • $580,000

      Pensacola Quadplex with Income Potential

      Quadplex in prime location with high rental income potential.
      672 S 72nd Ave, Pensacola, FL 32506
      View Details
    • $685,000
      2,984 SF

      Freestanding QSR with Drive-Thru

      Freestanding restaurant/retail property with drive-thru on 0.88 acres.
      3507 Pace Blvd, Pensacola, FL 32505
      View Details
    • $400,000

      Pensacola Duplex Investment Opportunity

      Two homes on one lot, ideal for investors.
      500 Lownde Ave, Pensacola, FL 32507
      View Details
    • $599,000

      New Construction Duplex Near Downtown

      Modern duplex with income potential, near downtown Pensacola.
      305 N Pace Blvd, Pensacola, FL 32505
      View Details
    • $725,000

      East Hill Spacious Brick Duplex

      Spacious East Hill duplex, updated, move-in ready, great location.
      1119 & 1121 E Lakeview Ave, Pensacola, FL 32503
      View Details
    • $575,000
      2,380 SF

      Pensacola Single-Story Home with Pond View

      Four-bedroom Pensacola home in Landfall Subdivision with pond view.
      4003 Indigo Drive, Pensacola, FL 32507
      View Details
    • $335,000

      Turnkey Duplex in Central Pensacola

      Fully leased duplex with income potential in prime Pensacola location.
      4614 Bellview Ave, Pensacola, FL 32526
      View Details
    • $599,000

      New Construction Duplex Near Downtown

      Modern duplex with strong rental potential near downtown Pensacola.
      315 N Pace Blvd, Pensacola, FL 32505
      View Details
    • $725,000

      Renovated Fourplex in East Hill

      Income-producing fourplex in East Hill near downtown Pensacola.
      1601 E Cervantes, Pensacola, FL 32501
      View Details
    • $700,000

      New Construction Duplex Near Downtown

      New construction duplex with 4 bedrooms and 3.5 baths.
      1913 + 1915 W Chase St, Pensacola, FL 32502
      View Details

    FAQs

    What type of property is this?
    Duplex - Well-maintained duplex near downtown and Naval Air Station Pensacola.
    Where is this duplex located?
    The property is located at 104 Ellis Dr Pensacola, FL.
    What is the asking price?
    The asking price for this property is $255,000.
    What are key features of this property?
    This property features: Prime location in the desirable Navy Point area, near downtown Pensacola and Naval Air Station Pensacola.; Duplex with two spacious units, each featuring 2 bedrooms and 1 full bath.; Great investment opportunity with strong rental income potential.
    (850) 572-4740
    We can help!
    Listing Contact
    Pamela Smith
    Learn More
    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.
    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

    Thank You for Inquiry
    104 Ellis Dr, Pensacola, FL 32507
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!