New Construction
New
For Sale
$400,000
1998 N Roberts Cir, Pensacola, FL 32534
Residential Income, Pensacola, FL
Property Size1,970 SF
Price / SF$203.05
Days on Market4
Property Features for 1998 N Roberts Cir
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 3, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 3
Appliances
Electric Water Heater, Built In Microwave, Dishwasher
Lot features
Central Access
Elementary school
Lipscomb
Middle school
RANSOM
High school
Tate
Directions
After turning right from Hwy 97 on E Roberts Rd, turn right on N Roberts Rd. the house is down the road on the right.
Standard status
Active
APN
201N304301007001
Size
1,970 SF
Taxes and HOA fees
Tax Description
N 110 FT OF E 132 FT OF W 330 FT OF S 1/2 OF SE 1/4 OF SE 1/4 OF SEC OR 9486 P 1224 LESS R/W OF E ROBERTS RD
Legal Description
N 110 FT OF E 132 FT OF W 330 FT OF S 1/2 OF SE 1/4 OF SE 1/4 OF SEC OR 9486 P 1224 LESS R/W OF E ROBERTS RD
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Amenities
indoor laundry room
private backyard access door
Building Details
Year built
2026
Floors in Building
1
Number of units
2
Building materials
Frame
Roof type
Composition
Listing Agency:
Bastion Realty LLC
(850) 420-1959
Listed By:
Brianna Martin
(850) 876-0431
Added: Sep 4
Changed: Sep 7
Last Checked: Sep 7 at 7:06AM
MLS# 688589
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 1,970-square-foot duplex is under construction and is scheduled for completion in 2026. The property contains two residential units, each measuring just under 1,000 square feet with two bedrooms and two bathrooms. Both units include an indoor laundry room and a door providing access to a private backyard area.
The frame-built property will feature central air, central heating, ceiling fans, and public water and sewer service. Planned appliances include a built-in microwave, dishwasher, and electric water heater. Located in Pensacola near restaurants, shopping, and grocery stores, the duplex is designed as a two-unit residential property with separate occupant spaces.
The frame-built property will feature central air, central heating, ceiling fans, and public water and sewer service. Planned appliances include a built-in microwave, dishwasher, and electric water heater. Located in Pensacola near restaurants, shopping, and grocery stores, the duplex is designed as a two-unit residential property with separate occupant spaces.
Key Highlights
- Two‑unit duplex totaling 1,970 square feet
- Each unit is just under 1,000 square feet with 2 bedrooms and 2 bathrooms
- Under construction with a 2026 build year
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
$19,389
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
4.85%
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%
$387,780
$387.8K
Cap Rate 7%
$276,986
$277.0K
Cap Rate 9%
$215,433
$215.4K
Market Conditions
NOI Build-Up for 1,970 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
$31.9K $16.20/SF
− Vacancy
−$4.2K −$2.14/SF
EGI
$27.7K $14.06/SF
− OpEx
−$8.3K −$4.22/SF
NOI
$19.4K $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%
$387,780
Cap Rate 7%
$276,986
Cap Rate 9%
$215,433
Alternative Uses
Best Use
Multifamily LT 5
$277.0K
$242.4K – $323.2K
NOI $19,389 @ 7.0% cap · market cap 4.85%
Second Best
Apartment 5plus
$254.3K
$222.5K – $296.7K
NOI $17,800 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$578.2K
$505.9K – $674.5K
NOI $40,472 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
182
Businesses Nearby
Explore this area
Business Placement
Demographics for 32534, FL
16,006
Population
7,573
Households
2.1
Avg Household Size
39
Median Age
22%
College-Educated
92%
High-School Grad
9.9 sq mi
ZIP Area
1,617
Density / Sq Mi
$59,013
Median Household Income
$34,841
Median Earnings
$1,350
Median Rent
$192,500
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?
Duplex - Two residential units offer private backyard access, indoor laundry rooms, and separate living arrangements.
Where is this duplex located?
The property is located at 1998 N Roberts Cir Pensacola, FL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,970 square feet; Each unit is just under 1,000 square feet with 2 bedrooms and 2 bathrooms; Under construction with a 2026 build year
