Renovated Furnished
For Sale
$314,700
200 Holmes Ave, Pensacola, FL 32507
Residential Income, Pensacola, FL
Property Size1,350 SF
Price / SF$233.11
Days on Market10
Property Features for 200 Holmes Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Res Multi
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 4
Window features
Blinds
Interior features
Ceiling Fan(s)
Exterior features
Fire Pit, Sprinkler
Fencing
Chain Link
Fireplace
1
Appliances
Gas Water Heater, Tankless Gas Water Heater, Dryer, Washer, Dishwasher
Subdivision
Navy Point
Lot features
Interior Lot
Elementary school
Navy Point
Middle school
BAILEY
High school
Pensacola
Directions
avy Blvd to W on Gulf Beach Hwy, Left on Winthrop, Right on Holmes
Standard status
Active
APN
502S307000030001
Size
1,350 SF
Taxes and HOA fees
Tax Description
Lt 3 Blk A 1st Addn Navy Point Pb 2 P 55 Or 7642 P 1910 Ca 220
Legal Description
Lt 3 Blk A 1st Addn Navy Point Pb 2 P 55 Or 7642 P 1910 Ca 220
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Multi Units
Water source
Public
Building Details
Year built
1948
Floors in Building
1
Number of units
2
Building materials
Block
Roof type
Shingle
Listing Agency:
Levin Rinke Realty
(850) 916-5050
Listed By:
Todd Atchison
(850) 356-0475
Added: Aug 20
Changed: Aug 26
Last Checked: Aug 29 at 1:06PM
MLS# 687796
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 duplex contains 1,350 square feet across two units and was built in 1948. Unit A includes central HVAC, updated doors, a new toilet, washer-and-dryer plumbing, and a new electrical panel. It is occupied by long-term tenants under a lease extending through December 2027. Unit B was renovated down to the studs with new plumbing, a new kitchen, an updated bathroom, central HVAC, a new back door, replacement windows, a new electrical panel, and laundry and dishwasher connections. The unit conveys fully furnished and includes a stackable washer and dryer, dishwasher, and tankless gas water heater.
Exterior improvements include fresh paint, new sod, a complete irrigation system with a separate irrigation meter, and chain-link fencing serving both units. The property also has public water, public sewer, shingle roofing, block construction, central air, and cable availability.
Exterior improvements include fresh paint, new sod, a complete irrigation system with a separate irrigation meter, and chain-link fencing serving both units. The property also has public water, public sewer, shingle roofing, block construction, central air, and cable availability.
Key Highlights
- 1,350‑square‑foot duplex built in 1948
- Unit A lease extends through December 2027
- Unit B renovated down to the studs and sold fully furnished
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
$13,287
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
4.22%
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%
$265,740
$265.7K
Cap Rate 7%
$189,814
$189.8K
Cap Rate 9%
$147,633
$147.6K
Market Conditions
NOI Build-Up for 1,350 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
$21.9K $16.20/SF
− Vacancy
−$2.9K −$2.14/SF
EGI
$19.0K $14.06/SF
− OpEx
−$5.7K −$4.22/SF
NOI
$13.3K $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%
$265,740
Cap Rate 7%
$189,814
Cap Rate 9%
$147,633
Alternative Uses
Best Use
Multifamily LT 5
$189.8K
$166.1K – $221.5K
NOI $13,287 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$174.3K
$152.5K – $203.3K
NOI $12,198 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$396.2K
$346.7K – $462.2K
NOI $27,734 @ 7.0% cap · market cap 8.81%
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
271
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?
Duplex - Updated two-unit property with established occupancy and a fully equipped furnished residence.
Where is this duplex located?
The property is located at 200 Holmes Ave Pensacola, FL.
What is the asking price?
The asking price for this property is $314,700.
What are key features of this property?
This property features: 1,350‑square‑foot duplex built in 1948; Unit A lease extends through December 2027; Unit B renovated down to the studs and sold fully furnished
