New Construction Corner-Lot
For Sale
$499,000
2805 N V St, Pensacola, FL 32505
MULTI_FAMILY - Pensacola, FL
Property Size2,352 SF
Price / SF$212.16
Days on Market439
Property Features for 2805 N V St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Res Multi
Window features
Blinds
Interior features
Baseboards, Ceiling Fan(s), High Ceilings, High Speed Internet
Appliances
Tankless Gas Water Heater
Subdivision
Pinecrest
Lot features
Corner Lot
Elementary school
Weis
Middle school
WARRINGTON
High school
Pensacola
Directions
From downtown Pensacola, head north on N Palafox St, then turn left onto W Fairfield Dr, and finally turn right onto N V St.
Standard status
Active
APN
172S301400011080
Size
2,352 SF
Taxes and HOA fees
Tax Description
SOUTH 1/2 LTS 11 12 13 14 BLK 80 PINECREST PLAT DB 55 P 261 OR 8311 P 289
Legal Description
SOUTH 1/2 LTS 11 12 13 14 BLK 80 PINECREST PLAT DB 55 P 261 OR 8311 P 289
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Natural Gas
Cooling system
Heat Pump, Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
2025
Floors in Building
1
Number of units
2
Building materials
Frame
Roof type
Shingle
Listing Agency:
Beycome of Florida, LLC
(804) 656-5007
Listed By:
Steven Koleno · License #3469487
(804) 656-5007
Added: Jun 6, 2025
Changed: Aug 3
Last Checked: Aug 18 at 2:06AM
MLS# 665618
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.
New construction duplex built in 2025 featuring two mirrored units in a simple, open-concept layout. Each unit offers three bedrooms and two full bathrooms, with modern finishes including quartz countertops, stainless steel appliances, and luxury vinyl plank flooring. Interior comforts include ceiling fan(s), high ceilings, and washer/dryer hookups. The primary suite includes a walk-in closet and dual vanity. Energy-efficient systems include a heat pump HVAC setup and a tankless water heater.
The property sits on a corner lot with approximately 8–10 off-street parking spaces and is served by public water and public sewer. The arrangement supports either owner occupancy in the vacant unit while maintaining rental income from the occupied unit, or continued use as a full investment property. One unit is currently vacant and move-in ready, while the second unit is tenant-occupied with an active lease that transfers with the property.
An official appraisal dated 07/18/2025 is on file. The building has a frame construction and a shingle roof.
The property sits on a corner lot with approximately 8–10 off-street parking spaces and is served by public water and public sewer. The arrangement supports either owner occupancy in the vacant unit while maintaining rental income from the occupied unit, or continued use as a full investment property. One unit is currently vacant and move-in ready, while the second unit is tenant-occupied with an active lease that transfers with the property.
An official appraisal dated 07/18/2025 is on file. The building has a frame construction and a shingle roof.
Key Highlights
- One unit vacant and move‑in ready; the second unit is tenant‑occupied with an active lease that transfers with the property
- Newly built in 2025 duplex on a corner lot
- 2,352 total SF (approx. 1,176 SF per unit)
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
$23,148
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
4.64%
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%
$462,960
$463.0K
Cap Rate 7%
$330,686
$330.7K
Cap Rate 9%
$257,200
$257.2K
Market Conditions
NOI Build-Up for 2,352 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
$38.1K $16.20/SF
− Vacancy
−$5.0K −$2.14/SF
EGI
$33.1K $14.06/SF
− OpEx
−$9.9K −$4.22/SF
NOI
$23.1K $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%
$462,960
Cap Rate 7%
$330,686
Cap Rate 9%
$257,200
Alternative Uses
Best Use
Multifamily LT 5
$330.7K
$289.4K – $385.8K
NOI $23,148 @ 7.0% cap · market cap 4.64%
Second Best
Apartment 5plus
$303.6K
$265.6K – $354.2K
NOI $21,251 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$690.3K
$604.0K – $805.3K
NOI $48,320 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
642
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
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Frequently Asked Questions
What type of property is this?
Duplex - Newly built 2025 duplex with one vacant, move-in ready unit and one tenant-occupied unit under an active lease.
Where is this duplex located?
The property is located at 2805 N V St Pensacola, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: One unit vacant and move‑in ready; the second unit is tenant‑occupied with an active lease that transfers with the property; Newly built in 2025 duplex on a corner lot; 2,352 total SF (approx. 1,176 SF per unit)
