Updated Duplex with Open
For Sale
$149,900
Pending
2407 W Lakeview Ave, Pensacola, FL 32505
Residential income property with refreshed interiors, double-pane windows, and separate layouts featuring private backyard access.
Property Size1,376 SF
Days on Market134
Property Features for 2407 W Lakeview Ave
General Information
Standard status
Pending
Size
1,376 SF
Property subtype
Multi Family Home
Zoning
Res Multi
Financials
Cap Rate
11.6%
Gross Income
$19,800
Average Monthly Rent
$825
Additional Details
Multifamily Units
2
Building Details
Building Size
1,376 SF
Year Built
1954
Buildings
1
Stories
1
Units
2
Listing Agency:
REALTY MASTERS
(850) 473-3983
Listed By:
David Keen
Source:
Kimwardrealty
Added: Apr 1
Changed: Aug 11
Last Checked: Aug 11 at 8:41AM
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 REALTY MASTERS
Investment Insights
Based on property information with market context.
Built in 1954, this duplex at 2407 W Lakeview Ave in Pensacola offers two separately configured residential units within a Res Multi-zoned property. Both sides have received interior updates, including new paint, tile flooring, full-tile shower bathrooms, modern vanities, and vinyl double-pane windows.
Each unit includes a large living room, one bedroom, and a full bathroom, followed by an open kitchen with dining space and a rear door leading to the backyard. The property has an 11.6 cap rate based on the stated operating assumptions, with prior rental activity reported for both units.
Each unit includes a large living room, one bedroom, and a full bathroom, followed by an open kitchen with dining space and a rear door leading to the backyard. The property has an 11.6 cap rate based on the stated operating assumptions, with prior rental activity reported for both units.
Key Highlights
- Two‑unit duplex with Res Multi zoning
- 11.6 cap rate based on stated operating assumptions
- Both units updated with new paint and tile flooring
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
$13,543
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
9.03%
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%
$270,860
$270.9K
Cap Rate 7%
$193,471
$193.5K
Cap Rate 9%
$150,478
$150.5K
Market Conditions
NOI Build-Up for 1,376 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
$22.3K $16.20/SF
− Vacancy
−$2.9K −$2.14/SF
EGI
$19.3K $14.06/SF
− OpEx
−$5.8K −$4.22/SF
NOI
$13.5K $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%
$270,860
Cap Rate 7%
$193,471
Cap Rate 9%
$150,478
Alternative Uses
Best Use
Multifamily LT 5
$193.5K
$169.3K – $225.7K
NOI $13,543 @ 7.0% cap · market cap 9.03%
Second Best
Apartment 5plus
$177.6K
$155.4K – $207.2K
NOI $12,433 @ 7.0% cap · market cap 8.29%
Theoretical Best
Office A
$403.8K
$353.4K – $471.2K
NOI $28,269 @ 7.0% cap · market cap 18.86%
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
1,130
Businesses Nearby
Explore this area
Business Placement
Demographics for 32505, FL
28,671
Population
12,278
Households
2.3
Avg Household Size
36
Median Age
14%
College-Educated
82%
High-School Grad
13.0 sq mi
ZIP Area
2,205
Density / Sq Mi
$41,039
Median Household Income
$27,950
Median Earnings
$1,053
Median Rent
$120,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Residential income property with refreshed interiors, double-pane windows, and separate layouts featuring private backyard access.
Where is this duplex located?
The property is located at 2407 W Lakeview Ave Pensacola, FL.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Two‑unit duplex with Res Multi zoning; 11.6 cap rate based on stated operating assumptions; Both units updated with new paint and tile flooring
