Triplex with Separate Rear
1303 N W St, Pensacola, FL 32505
For Sale
$485,000
Residential Income, Pensacola, FL
Property Size2,240 SF
Lot Size0.16 Acres
Price / SF$216.52
Days on Market56
Property Features for 1303 N W St
General Information
Property type
Property subtype
Parking features
Subdivision
Lot features
Elementary school
Middle school
High school
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Heating system
Cooling system
Amenities
washer/dryer hookups
fenced yard
outdoor space
separate utility meters
Building Details
Year built
Floors in Building
Number of units
Building materials
Roof type
Listing Agency:
LPT Realty
Listed By:
Kimberlee Bell
(877) 366-2213
Added: Sep 15
Changed: Oct 15
Last Checked: Nov 9 at 4:06AM
MLS# 689006
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.
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Investment Insights
Based on property information with market context.
This frame triplex contains 2,240 square feet of living space across three units. The primary two-story structure includes two 2-bedroom, 1-bath residences, each with a living area and kitchen. A detached rear unit adds a bedroom, bath, and kitchen. Central heating and central air serve the property, which was built in 1960 and has a shingle roof.
Each residence is separately metered and includes washer and dryer hookups. The 0.155-acre parcel is fully fenced and provides a parking lot along with outdoor area for storage or recreation. Completed plans for another unit are included, subject to applicable permitting and approvals. HC/LI zoning allows consideration of residential and commercial uses in accordance with applicable requirements.
The property is located near downtown Pensacola, with access to major roadways, shopping, dining, and area employers.
Each residence is separately metered and includes washer and dryer hookups. The 0.155-acre parcel is fully fenced and provides a parking lot along with outdoor area for storage or recreation. Completed plans for another unit are included, subject to applicable permitting and approvals. HC/LI zoning allows consideration of residential and commercial uses in accordance with applicable requirements.
The property is located near downtown Pensacola, with access to major roadways, shopping, dining, and area employers.
Key Highlights
- Three‑unit triplex with 2,240 square feet of total living space
- Two 2‑bedroom, 1‑bath units in the main two‑story building
- Separate rear unit includes a kitchen, bedroom, and bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,046
Cap Rate
4.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$440,920
$440.9K
Cap Rate 7%
$314,943
$314.9K
Cap Rate 9%
$244,956
$245.0K
Market Conditions
NOI Build-Up for 2,240 SF
Gross rent
$36.3K $16.20/SF
− Vacancy
−$4.8K −$2.14/SF
EGI
$31.5K $14.06/SF
− OpEx
−$9.4K −$4.22/SF
NOI
$22.0K $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%
$440,920
Cap Rate 7%
$314,943
Cap Rate 9%
$244,956
Alternative Uses
Best Use
Multifamily LT 5
$314.9K
$275.6K – $367.4K
NOI $22,046 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$289.1K
$253.0K – $337.3K
NOI $20,239 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$657.4K
$575.2K – $767.0K
NOI $46,019 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
682
Businesses Nearby
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Business Placement
Demographics for 32505, FL
28,671
Population
12,278
Households
2.3
Avg Household Size
36
Median Age
14%
College-Educated
82%
High-School Grad
13.0 sq mi
ZIP Area
2,205
Density / Sq Mi
$41,039
Median Household Income
$27,950
Median Earnings
$1,053
Median Rent
$120,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three separately metered units include washer and dryer hookups.
Where is this triplex located?
The property is located at 1303 N W St Pensacola, FL.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Three‑unit triplex with 2,240 square feet of total living space; Two 2‑bedroom, 1‑bath units in the main two‑story building; Separate rear unit includes a kitchen, bedroom, and bath
