Triplex with Separate Rear
For Sale
$499,000
1303 N W St, Pensacola, FL 32505
Residential Income, Pensacola, FL
Property Size2,240 SF
Lot Size0.16 Acres
Price / SF$222.77
Days on Market9
Property Features for 1303 N W St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking features
Parking Lot
Subdivision
Welles Brownsville
Lot features
Central Access
Elementary school
Oakcrest
Middle school
WARRINGTON
High school
Pensacola
Directions
South on W street to just before Cervantes Street. Property is on the right.
Standard status
Active
APN
332S301000091016
Size
2,240 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
S 50 35/100 FT OF N 101 35/100 FT OF LTS 7 8 9 BLK 16 1ST ADDN TO WELLES BROWNSVILLE PB 1 P 41 LESS OR 483 P 529 STATE RD R/W (WST) OR 9213 P 570 CA 137
Legal Description
S 50 35/100 FT OF N 101 35/100 FT OF LTS 7 8 9 BLK 16 1ST ADDN TO WELLES BROWNSVILLE PB 1 P 41 LESS OR 483 P 529 STATE RD R/W (WST) OR 9213 P 570 CA 137
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
washer/dryer hookups
fenced yard
outdoor space
separate utility meters
Building Details
Year built
1960
Floors in Building
2
Number of units
3
Building materials
Frame
Roof type
Shingle
Listing Agency:
LPT Realty
(877) 366-2213
Listed By:
Kimberlee Bell
(850) 375-8792
Added: Sep 15
Last Checked: Sep 23 at 5:06AM
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.
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 = 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
$22,046
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
4.42%
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%
$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
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
$36.3K $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 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%
$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 4.42%
Second Best
Apartment 5plus
$289.1K
$253.0K – $337.3K
NOI $20,239 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$657.4K
$575.2K – $767.0K
NOI $46,019 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
682
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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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 $499,000.
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
