Waterfront Condo with Gulf
For Sale
$395,000
10335 Gulf Beach Hwy #302, Pensacola, FL 32507
Serene coastal retreat with water views, updated amenities, and great location.
Property Size1,624 SF
Lot Size3.47 Acres
Days on Market525
Property Features for 10335 Gulf Beach Hwy #302
General Information
Standard status
Active
Size
1,624 SF
Lot size
3.47 Acres
Property subtype
Condominium
Taxes and HOA fees
Annual Taxes
$10,831
Amenities
Central
ENERGY STAR Qualified Heat Pump
Central Air
Ceiling Fan(s)
ENERGY STAR Qualified Equipment
Electric Water Heater
Dryer
Washer
Dishwasher
Disposal
Microwave
Refrigerator
ENERGY STAR Qualified Dishwasher
Deck, Pool, Water Front, Cable Available, Metal
Building Details
Building Size
1,624 SF
Year Built
2007
Listing Agency:
Pensacola
Listed By:
Nathan Baker
(850) 525-8034
Source:
Kw
Added: Mar 27, 2025
Changed: Aug 16
Last Checked: May 19 at 9:01PM
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 Pensacola
Investment Insights
Based on property information with market context.
This condo offers a coastal retreat with views of the Gulf Island National Seashore and the Gulf, providing water vistas. The unit overlooks the renovated pool and blends luxury, comfort, and natural beauty. The condo features tones with ceiling fans and a coastal chandelier in the dining area. Updates include a new HVAC, water heater, dehumidifier, and dishwasher. Low-maintenance tile floors run throughout the main living spaces, with carpet in the spare bedrooms. The open-concept layout flows into a kitchen with granite countertops and a breakfast bar. The master suite offers private balcony access. The master bath features a walk-in closet, double vanity, garden tub, and walk-in shower. Additional bedrooms provide accommodations for guests or family. Snug Harbour offers amenities including indoor and outdoor pools, spa, sauna, fitness center, community room, beachfront access, kayak storage, BBQ area, and picnic space. Owners enjoy savings with free premium cable, high-speed internet, trash, water, and pest control. The 30-day minimum rental restriction is suitable for full-time residents or investors. Located near NAS Pensacola and Perdido Keys’ beaches, the location combines natural beauty with access to restaurants, shopping, and entertainment. Furnishings are available and negotiable.
Key Highlights
- Waterfront condo with panoramic views of Gulf Island National Seashore.
- Enjoy access to Snug Harbour amenities including indoor/outdoor pools and beachfront access.
- Move‑in ready with recent updates: new HVAC, water heater, dehumidifier, and dishwasher.
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
$14,673
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
3.71%
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%
$293,460
$293.5K
Cap Rate 7%
$209,614
$209.6K
Cap Rate 9%
$163,033
$163.0K
Market Conditions
NOI Build-Up for 1,624 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
$31.0K $19.08/SF
− Vacancy
−$4.3K −$2.65/SF
EGI
$26.7K $16.43/SF
− OpEx
−$12.0K −$7.39/SF
NOI
$14.7K $9.04/SF
Area
Escambia County, FL
Vacancy
13.90%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
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%
$293,460
Cap Rate 7%
$209,614
Cap Rate 9%
$163,033
Alternative Uses
Best Use
Apartment 5plus
$209.6K
$183.4K – $244.6K
NOI $14,673 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$476.6K
$417.1K – $556.1K
NOI $33,364 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
87
Businesses Nearby
Explore this area
Business Placement
Demographics for 32507, FL
31,215
Population
19,131
Households
1.6
Avg Household Size
44
Median Age
32%
College-Educated
91%
High-School Grad
27.9 sq mi
ZIP Area
1,119
Density / Sq Mi
$69,802
Median Household Income
$38,000
Median Earnings
$1,238
Median Rent
$267,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Serene coastal retreat with water views, updated amenities, and great location.
Where is this apartment building located?
The property is located at 10335 Gulf Beach Hwy #302 Pensacola, FL.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Waterfront condo with panoramic views of Gulf Island National Seashore.; Enjoy access to Snug Harbour amenities including indoor/outdoor pools and beachfront access.; Move‑in ready with recent updates: new HVAC, water heater, dehumidifier, and dishwasher.
