Furnished Short-Term Rental
New
For Sale
$670,000
14356 Cordgrass, Pensacola, FL 32507
MULTI_FAMILY - Other - Pensacola, FL
Property Size2,148 SF
Lot Size0.09 Acres
Price / SF$311.92
Days on Market2
Property Features for 14356 Cordgrass
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 4, Bathroom 3, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
Parking features
Open, Garage
Patio and Porch features
Porch, Patio
Pets allowed
Yes
Interior features
En Suite, Ceiling Fan(s)
Appliances
Dryer, Washer, Cooktop, Disposal, Microwave, Dishwasher, Electric Range, Plumbed For Ice Maker, Smoke Detector
Subdivision
Lost Key Golf And Beach Club
Lot features
Less Than 1 Acre
Elementary school
Not Baldwin County
Middle school
Not Baldwin County
High school
Not Baldwin County High
Directions
From either direction on Perdido Key Drive, turn onto Lost Key Blvd. Take your first right on Cordgrass. Home will be on the left side.
Standard status
Active
APN
35-3S-32-4401-000-103
Size
2,148 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
Lt 103 Lost Key C12 Townhomes Pb 19 P 92/92A Or 8542 P 628 Sec 34/35 T 3S R 32W
Tax Annual Amount
8417
HOA Fee
$7,394 Annually
Legal Description
Lt 103 Lost Key C12 Townhomes Pb 19 P 92/92A Or 8542 P 628 Sec 34/35 T 3S R 32W
Utilities
Heating system
Electric (Heating)
Amenities
24-hour staffed gate
18-hole golf course
golf club
restaurant
pro shop
locker rooms
tennis courts
beach shuttle service
beach club
pool
fitness center
screened patio
screened garage
Building Details
Year built
2021
Floors in Building
2
Roof type
Composition
Architectural style
Other
Listing Agency:
Pointe South
(251) 271-0237
Listed By:
Stephanie Boll · License #105067
(251) 271-0237
Added: Aug 10
Last Checked: Aug 11 at 7:06PM
MLS# 407231
Copyright © 2026 Baldwin 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 fully furnished resort villa townhome offers four bedrooms and four bathrooms across three levels. The residence includes open living areas, a two-car garage with storage and custom cabinetry, a screened patio, and a screened garage. White quartz countertops and white Merillat cabinetry with soft-close drawers and pull-out shelving enhance the kitchen. Additional features include en suite accommodations, ceiling fans, a washer and dryer, electric range, dishwasher, microwave, and disposal.
The property is part of Lost Key Golf & Beach Club, a gated island resort community with 24-hour staffed entry. Community amenities include an 18-hole Arnold Palmer Championship Golf Course, golf clubhouse restaurant, pro shop, locker rooms, tennis courts, beach shuttle service, Beach Club, pool, and fitness center. The home is near the Gulf of Mexico, National Seashore, beaches, and NAS Pensacola.
The property is part of Lost Key Golf & Beach Club, a gated island resort community with 24-hour staffed entry. Community amenities include an 18-hole Arnold Palmer Championship Golf Course, golf clubhouse restaurant, pro shop, locker rooms, tennis courts, beach shuttle service, Beach Club, pool, and fitness center. The home is near the Gulf of Mexico, National Seashore, beaches, and NAS Pensacola.
Key Highlights
- Four‑bedroom, four‑bathroom resort villa townhome
- Built in 2021 on a 0.09‑acre lot
- Three‑level layout with 2,170 square feet of A/C living area
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
$19,408
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
2.90%
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%
$388,160
$388.2K
Cap Rate 7%
$277,257
$277.3K
Cap Rate 9%
$215,644
$215.6K
Market Conditions
NOI Build-Up for 2,148 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
$41.0K $19.08/SF
− Vacancy
−$5.7K −$2.65/SF
EGI
$35.3K $16.43/SF
− OpEx
−$15.9K −$7.39/SF
NOI
$19.4K $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%
$388,160
Cap Rate 7%
$277,257
Cap Rate 9%
$215,644
Alternative Uses
Best Use
Apartment 5plus
$277.3K
$242.6K – $323.5K
NOI $19,408 @ 7.0% cap · market cap 2.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$630.4K
$551.6K – $735.5K
NOI $44,129 @ 7.0% cap · market cap 6.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
119
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
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Frequently Asked Questions
What type of property is this?
Short term rental property - Three-level furnished townhome with resort amenities, screened outdoor space, and an attached garage.
Where is this short term rental property located?
The property is located at 14356 Cordgrass Pensacola, FL.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: Four‑bedroom, four‑bathroom resort villa townhome; Built in 2021 on a 0.09‑acre lot; Three‑level layout with 2,170 square feet of A/C living area
