Two-Unit Duplex
For Sale
$325,000
1453-1451 E Johnson Ave, Pensacola, FL 32514
Two residences offer distinct two-bedroom and three-bedroom layouts with one bathroom in each unit.
Property Size1,805 SF
Price / SF$180.06
Days on Market19
Property Features for 1453-1451 E Johnson Ave
General Information
Standard status
Active
Size
1,805 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Listing Agency:
Serhant Florida LLC
(850) 450-9787
Listed By:
Lee Wood · License #9564
(850) 450-9787
Source:
Exprealty
Added: Aug 14
Changed: Aug 29
Last Checked: Aug 30 at 9:37PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Serhant Florida LLC
Investment Insights
Based on property information with market context.
This duplex contains 1,805 square feet of total living space across two separate residences. The home at 1451 E Johnson includes 2 bedrooms and 1 bathroom, while 1453 E Johnson provides 3 bedrooms and 1 bathroom. Mature trees contribute to the property's established residential setting.
The property is located in Pensacola near shopping, dining, major roadways, and the University of West Florida. Three sets of duplexes are also available together as a package, providing an option for buyers evaluating multiple properties.
The property is located in Pensacola near shopping, dining, major roadways, and the University of West Florida. Three sets of duplexes are also available together as a package, providing an option for buyers evaluating multiple properties.
Key Highlights
- 1,805 square feet of total living space
- Two separate duplex units
- 1451 E Johnson: 2 bedrooms and 1 bathroom
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
$17,765
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
5.47%
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%
$355,300
$355.3K
Cap Rate 7%
$253,786
$253.8K
Cap Rate 9%
$197,389
$197.4K
Market Conditions
NOI Build-Up for 1,805 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
$29.2K $16.20/SF
− Vacancy
−$3.9K −$2.14/SF
EGI
$25.4K $14.06/SF
− OpEx
−$7.6K −$4.22/SF
NOI
$17.8K $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%
$355,300
Cap Rate 7%
$253,786
Cap Rate 9%
$197,389
Alternative Uses
Best Use
Multifamily LT 5
$253.8K
$222.1K – $296.1K
NOI $17,765 @ 7.0% cap · market cap 5.47%
Second Best
Apartment 5plus
$233.0K
$203.9K – $271.8K
NOI $16,309 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$529.7K
$463.5K – $618.0K
NOI $37,082 @ 7.0% cap · market cap 11.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
976
Businesses Nearby
Explore this area
Business Placement
Demographics for 32514, FL
40,844
Population
19,117
Households
2.1
Avg Household Size
39
Median Age
33%
College-Educated
91%
High-School Grad
19.8 sq mi
ZIP Area
2,063
Density / Sq Mi
$66,484
Median Household Income
$36,178
Median Earnings
$1,358
Median Rent
$241,300
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?
Duplex - Two residences offer distinct two-bedroom and three-bedroom layouts with one bathroom in each unit.
Where is this duplex located?
The property is located at 1453-1451 E Johnson Ave Pensacola, FL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,805 square feet of total living space; Two separate duplex units; 1451 E Johnson: 2 bedrooms and 1 bathroom
