Three-Unit Multifamily
For Sale
$529,000
1267 Redwood Ln, Gulf Breeze, FL 32563
Residential Income, Gulf Breeze, FL
Property Size2,613 SF
Lot Size0.22 Acres
Price / SF$202.45
Days on Market48
Property Features for 1267 Redwood Ln
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
Res Single
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 3, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 2
Parking features
Parking Lot
Window features
Blinds
Appliances
Electric Water Heater, Dishwasher, Disposal, Self Cleaning Oven
Lot features
Interior Lot
Elementary school
Oriole Beach
Middle school
GULF BREEZE
High school
Gulf Breeze
Directions
Hwy 98 to College Parkway Intersection, south on College Parkway, right on Santa Rosa Drive, straight to the parking area of 1267 Redwood.
Standard status
Active
APN
322S284820003000560
Size
2,613 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Description
SANTA ROSA SHORES 3RD ADD REVISED LOT 56 BLK 3 AS DES IN OR 2435 PG 1654
Legal Description
SANTA ROSA SHORES 3RD ADD REVISED LOT 56 BLK 3 AS DES IN OR 2435 PG 1654
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
inside laundry area
Building Details
Year built
1981
Floors in Building
1
Number of units
3
Flooring type
Vinyl, Carpet
Building materials
Frame
Roof type
Composition
Listing Agency:
MONTGOMERY REALTORS
(850) 432-3060
Listed By:
Susan Moody
(850) 232-7916
Added: Aug 11
Changed: Sep 12
Last Checked: Sep 27 at 12:06AM
MLS# 687295
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.
Built in 1981, this three-unit multifamily property contains 2,613 square feet across three matching residences. Each unit offers two bedrooms, one bathroom, a combined living and dining area, and an interior laundry space. Central heating and air conditioning serve the units, with vinyl and carpet flooring throughout. The frame construction includes a composition roof, public water, and public sewer.
Each residence has its own water meter, while utilities are paid by the tenants. The property includes a parking lot and is situated in Santa Rosa Shores, within walking distance of a bank, laundromat, and Winn-Dixie shopping area. All three units are currently rented.
Each residence has its own water meter, while utilities are paid by the tenants. The property includes a parking lot and is situated in Santa Rosa Shores, within walking distance of a bank, laundromat, and Winn-Dixie shopping area. All three units are currently rented.
Key Highlights
- Three units, each with 2 bedrooms and 1 bathroom
- 2,613 square feet on a 0.2169‑acre lot
- All three units are rented
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
$23,929
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
4.52%
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%
$478,580
$478.6K
Cap Rate 7%
$341,843
$341.8K
Cap Rate 9%
$265,878
$265.9K
Market Conditions
NOI Build-Up for 2,613 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
$36.1K $13.80/SF
− Vacancy
−$1.9K −$0.72/SF
EGI
$34.2K $13.08/SF
− OpEx
−$10.3K −$3.92/SF
NOI
$23.9K $9.16/SF
Area
Santa Rosa County, FL
Vacancy
5.20%
Lease Rate
$13.80 /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%
$478,580
Cap Rate 7%
$341,843
Cap Rate 9%
$265,878
Alternative Uses
Best Use
Multifamily LT 5
$341.8K
$299.1K – $398.8K
NOI $23,929 @ 7.0% cap · market cap 4.52%
Second Best
Apartment 5plus
$301.1K
$263.4K – $351.2K
NOI $21,074 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$643.4K
$563.0K – $750.7K
NOI $45,040 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
565
Businesses Nearby
Explore this area
Business Placement
Demographics for 32563, FL
27,329
Population
12,883
Households
2.1
Avg Household Size
43
Median Age
40%
College-Educated
95%
High-School Grad
16.6 sq mi
ZIP Area
1,646
Density / Sq Mi
$97,139
Median Household Income
$41,647
Median Earnings
$1,692
Median Rent
$362,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Fully leased configuration with separately metered utilities and convenient access to nearby shopping and services.
Where is this triplex located?
The property is located at 1267 Redwood Ln Gulf Breeze, FL.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Three units, each with 2 bedrooms and 1 bathroom; 2,613 square feet on a 0.2169‑acre lot; All three units are rented
