All-Brick Duplex with Impact
New
For Sale
$279,000
2422 Eliasberg St, Pensacola, FL 32507
Residential Income, Pensacola, FL
Property Size1,620 SF
Price / SF$172.22
Days on Market4
Property Features for 2422 Eliasberg St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Subdivision
Beach Haven
Lot features
Corner Lot
Elementary school
Navy Point
Middle school
BAILEY
High school
Escambia
Directions
Gulf Beach Hwy to Eliasbergh St House is on the Right.
Standard status
Active
APN
352S311000013074
Size
1,620 SF
Taxes and HOA fees
Tax Description
Lt 13 & 14 Blk 74 Beach Haven Plat Db 46 P 51 Or 8183 P 896 Sec 35/54 T 2S R 30/31
Legal Description
Lt 13 & 14 Blk 74 Beach Haven Plat Db 46 P 51 Or 8183 P 896 Sec 35/54 T 2S R 30/31
Utilities
Sewer type
Public Sewer
Heating system
Central
Water source
Public
Building Details
Year built
1977
Number of units
2
Flooring type
Vinyl
Roof type
Composition
Listing Agency:
Kuhn Realty
(850) 266-7557
Listed By:
Larry Kuhn
(850) 266-7557
Added: Aug 26
Changed: Aug 27
Last Checked: Aug 29 at 11:06AM
MLS# 688059
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 all-brick duplex contains two 2-bedroom, 1-bath residences totaling 1,620 square feet. Each unit measures just over 800 square feet and includes vinyl flooring and central heating. The property was built in 1977 and features impact-rated windows throughout, a composition roof, public water, and public sewer. A new roof is scheduled for installation by the seller before closing, while warranties are in place for the windows and a recently replaced bathroom. A termite repair bond is also included.
Located in Pensacola near Naval Air Station Pensacola, the property is approximately 5 minutes from the front gate and 10 minutes from the back gate. Perdido Key is under 20 minutes away, and downtown Pensacola is less than 15 minutes away. Both units have tenants in place, with occupancy exceeding 5 years and no reported vacancy. Tenants pay their own utilities, while ownership handles lawn care.
Located in Pensacola near Naval Air Station Pensacola, the property is approximately 5 minutes from the front gate and 10 minutes from the back gate. Perdido Key is under 20 minutes away, and downtown Pensacola is less than 15 minutes away. Both units have tenants in place, with occupancy exceeding 5 years and no reported vacancy. Tenants pay their own utilities, while ownership handles lawn care.
Key Highlights
- Two 2‑bedroom, 1‑bath units totaling 1,620 square feet
- All‑brick construction with impact‑rated windows throughout
- New roof to be installed by the seller prior to closing
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
$15,944
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
5.71%
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%
$318,880
$318.9K
Cap Rate 7%
$227,771
$227.8K
Cap Rate 9%
$177,156
$177.2K
Market Conditions
NOI Build-Up for 1,620 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
$26.2K $16.20/SF
− Vacancy
−$3.5K −$2.14/SF
EGI
$22.8K $14.06/SF
− OpEx
−$6.8K −$4.22/SF
NOI
$15.9K $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%
$318,880
Cap Rate 7%
$227,771
Cap Rate 9%
$177,156
Alternative Uses
Best Use
Multifamily LT 5
$227.8K
$199.3K – $265.7K
NOI $15,944 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$209.1K
$183.0K – $244.0K
NOI $14,637 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$475.4K
$416.0K – $554.7K
NOI $33,281 @ 7.0% cap · market cap 11.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
130
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 rental property with long-term occupancy and public utilities.
Where is this duplex located?
The property is located at 2422 Eliasberg St Pensacola, FL.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units totaling 1,620 square feet; All‑brick construction with impact‑rated windows throughout; New roof to be installed by the seller prior to closing
