Updated East Hill
For Sale
$1,099,000
1306 E Gonzalez St, Pensacola, FL 32501
Residential Income, Pensacola, FL
Property Size3,252 SF
Price / SF$337.95
Days on Market93
Property Features for 1306 E Gonzalez St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Window features
Double Pane Windows
Appliances
Electric Water Heater
Subdivision
New City Tract
Lot features
Central Access
Elementary school
Oj Semmes
Middle school
WORKMAN
High school
Pensacola
Directions
Cervantes turn on 12th Ave Right on Gonzalez home is between 13th and 14th Ave.
Standard status
Active
APN
000S009025180148
Size
3,252 SF
Taxes and HOA fees
Tax Description
Lt 18 And E1/2 Of Lt 19 Blk 148 New City Tract Or 9213 P 1471 Ca 49
Legal Description
Lt 18 And E1/2 Of Lt 19 Blk 148 New City Tract Or 9213 P 1471 Ca 49
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Amenities
shared laundry room
Building Details
Year built
1927
Floors in Building
1
Number of units
4
Flooring type
Tile
Building materials
Brick, Frame
Roof type
Shingle
Listing Agency:
Levin Rinke Realty
(850) 916-5050
Listed By:
Caleb Drake
(850) 916-5050
Added: Jun 2
Changed: Aug 19
Last Checked: Sep 2 at 4:06AM
MLS# 683634
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 3,252-square-foot quadplex is a 1927 brick-and-frame property converted into four distinct residential units. The configuration includes two 2-bedroom, 1-bath units and two efficiency-style units. Interior improvements include refreshed kitchens, remodeled bathrooms, tile flooring, central heating and cooling, and ceiling fans. Unit features vary and include wet bars, compact cooking equipment, a standalone tub, and separate entrances. A shared laundry room is positioned on the first floor with its own exterior access.
The property is in East Hill, within walking distance of a brewery, pizza shop, gelato shop, and an adjacent park. Public water and public sewer serve the property. The roof is shingle, and the building includes an electric water heater.
The property is in East Hill, within walking distance of a brewery, pizza shop, gelato shop, and an adjacent park. Public water and public sewer serve the property. The roof is shingle, and the building includes an electric water heater.
Key Highlights
- Four‑unit residential configuration with two 2‑bedroom, 1‑bath units and two efficiency units
- 3,252 square feet on a 1927 brick‑and‑frame building
- Updated kitchens and remodeled bathrooms across multiple units
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
$32,006
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
2.91%
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%
$640,120
$640.1K
Cap Rate 7%
$457,229
$457.2K
Cap Rate 9%
$355,622
$355.6K
Market Conditions
NOI Build-Up for 3,252 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
$52.7K $16.20/SF
− Vacancy
−$7.0K −$2.14/SF
EGI
$45.7K $14.06/SF
− OpEx
−$13.7K −$4.22/SF
NOI
$32.0K $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%
$640,120
Cap Rate 7%
$457,229
Cap Rate 9%
$355,622
Alternative Uses
Best Use
Multifamily LT 5
$457.2K
$400.1K – $533.4K
NOI $32,006 @ 7.0% cap · market cap 2.91%
Second Best
Apartment 5plus
$419.8K
$367.3K – $489.7K
NOI $29,383 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$954.4K
$835.1K – $1.11M
NOI $66,809 @ 7.0% cap · market cap 6.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
912
Businesses Nearby
Explore this area
Business Placement
Demographics for 32501, FL
10,960
Population
5,505
Households
2
Avg Household Size
41
Median Age
30%
College-Educated
86%
High-School Grad
3.7 sq mi
ZIP Area
2,962
Density / Sq Mi
$39,127
Median Household Income
$31,312
Median Earnings
$964
Median Rent
$277,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four separately accessed units combine remodeled interiors with shared laundry and public utilities.
Where is this quadplex located?
The property is located at 1306 E Gonzalez St Pensacola, FL.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Four‑unit residential configuration with two 2‑bedroom, 1‑bath units and two efficiency units; 3,252 square feet on a 1927 brick‑and‑frame building; Updated kitchens and remodeled bathrooms across multiple units
