Historic Home with Commercial
For Sale
$209,900
1717 W Government St, Pensacola, FL 32502
848 SF Historic Home For Sale Zoned C-3 in Tanyard Neighborhood
Property Size848 SF
Lot Size0.17 Acres
Price / SF$247.52
Days on Market618
Property Features for 1717 W Government St
General Information
Standard status
Active
Property type
Other office properties, Residential offices, Other mixed-use properties, Office Spaces, Mixed-use properties
Size
848 SF
Class
B
Elevators
N/A
Lot size
0.17 Acres
Building Details
Year Built
1935
Year Renovated
2023
Buildings
1
Stories
1
Listed By:
Paul Salter
(850) 564-0120
Added: Feb 7, 2025
Changed: Mar 16
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This historic 848-square-foot home is located in Pensacola's Tanyard neighborhood. Zoned C-3, the property allows for a variety of intensive commercial uses. Situated on a 0.17-acre lot, the property boasts a large fenced yard, providing ample space for parking. The home features a recently installed roof, new plumbing, and a newer HVAC system. Additional features include a termite bond and a gas stove. The property includes screened front and back porches, along with a front deck and an in-home laundry room. Three oak trees grace the property. Its location places it within three blocks of the Emerald Republic Brewery and within walking distance of several restaurants including the Pearl & Horn, Taste of Jerusalem, Camellia, and Oar House. The property previously commanded a monthly rental income of $1,700.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,302
Cap Rate
6.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$286,040
$286.0K
Cap Rate 7%
$204,314
$204.3K
Cap Rate 9%
$158,911
$158.9K
Market Conditions
NOI Build-Up for 848 SF
Gross rent
$21.3K $25.08/SF
− Vacancy
−$2.2K −$2.59/SF
EGI
$19.1K $22.49/SF
− OpEx
−$4.8K −$5.62/SF
NOI
$14.3K $16.87/SF
Area
Escambia County, FL
Vacancy
10.34%
Lease Rate
$25.08 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$286,040
Cap Rate 7%
$204,314
Cap Rate 9%
$158,911
Alternative Uses
Best Use
Office B
$204.3K
$178.8K – $238.4K
NOI $14,302 @ 7.0% cap · market cap 6.81%
Second Best
Mixed Use
$143.9K
$125.9K – $167.9K
NOI $10,074 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$248.9K
$217.8K – $290.4K
NOI $17,421 @ 7.0% cap · market cap 8.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,702
Businesses Nearby
Explore this area
Business Placement
Demographics for 32502, FL
4,277
Population
2,582
Households
1.7
Avg Household Size
46
Median Age
36%
College-Educated
92%
High-School Grad
2.7 sq mi
ZIP Area
1,584
Density / Sq Mi
$67,548
Median Household Income
$41,011
Median Earnings
$1,313
Median Rent
$229,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office property - 848 SF Historic Home For Sale Zoned C-3 in Tanyard Neighborhood
Where is this office property located?
The property is located at 1717 W Government St Pensacola, FL.
What is the asking price?
The asking price for this property is $209,900.
