New Construction
For Sale
$499,000
1109 Dr Martin Luther King Jr Dr, Pensacola, FL 32503
Each residence has a full kitchen and laundry area, with a balcony serving the upstairs home.
Property Size1,637 SF
Price / SF$304.83
Days on Market29
Property Features for 1109 Dr Martin Luther King Jr Dr
General Information
Standard status
Active
Size
1,637 SF
Total Parking Spaces
1
Property subtype
Duplex
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Building Size
1,637 SF
Year Built
2026
Buildings
1
Listing Agency:
Kuhn Realty
Listed By:
Kyle Lindsey
(850) 384-9707
Source:
Kuhnrealty
Added: Oct 1
Changed: Oct 27
Last Checked: Oct 27 at 3:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kuhn Realty
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Investment Insights
Based on property information with market context.
Completed in 2026, this 1,637-square-foot duplex contains two independent residences. The first-floor home has one bedroom and one bathroom, along with a living room, kitchen, dining area, laundry, and private entrance. Above it, a two-bedroom, two-bathroom residence includes its own living and dining areas, kitchen, laundry, and balcony. Both levels have 9-foot ceilings. A covered carport accommodates one vehicle, and additional storage is included.
The property is near Downtown Pensacola, with access to I-110, hospitals, restaurants, shopping, and beaches. The two-home configuration supports separate residential use within one building.
The property is near Downtown Pensacola, with access to I-110, hospitals, restaurants, shopping, and beaches. The two-home configuration supports separate residential use within one building.
Key Highlights
- 1,637‑square‑foot duplex completed in 2026
- Two residences: a 1‑bedroom, 1‑bathroom home and a 2‑bedroom, 2‑bathroom home
- Both living levels feature 9‑foot ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,111
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$322,220
$322.2K
Cap Rate 7%
$230,157
$230.2K
Cap Rate 9%
$179,011
$179.0K
Market Conditions
NOI Build-Up for 1,637 SF
Gross rent
$26.5K $16.20/SF
− Vacancy
−$3.5K −$2.14/SF
EGI
$23.0K $14.06/SF
− OpEx
−$6.9K −$4.22/SF
NOI
$16.1K $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 Rate 5%
$322,220
Cap Rate 7%
$230,157
Cap Rate 9%
$179,011
Alternative Uses
Best Use
Multifamily LT 5
$230.2K
$201.4K – $268.5K
NOI $16,111 @ 7.0% cap · market cap 3.23%
Second Best
Apartment 5plus
$211.3K
$184.9K – $246.5K
NOI $14,791 @ 7.0% cap · market cap 2.96%
Theoretical Best
Office A
$480.4K
$420.4K – $560.5K
NOI $33,631 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,440
Businesses Nearby
Explore this area
Business Placement
Demographics for 32503, FL
33,693
Population
14,419
Households
2.3
Avg Household Size
36
Median Age
41%
College-Educated
94%
High-School Grad
12.6 sq mi
ZIP Area
2,674
Density / Sq Mi
$67,654
Median Household Income
$32,077
Median Earnings
$1,226
Median Rent
$270,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has a full kitchen and laundry area, with a balcony serving the upstairs home.
Where is this duplex located?
The property is located at 1109 Dr Martin Luther King Jr Dr Pensacola, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 1,637‑square‑foot duplex completed in 2026; Two residences: a 1‑bedroom, 1‑bathroom home and a 2‑bedroom, 2‑bathroom home; Both living levels feature 9‑foot ceilings
