New Construction
For Sale
$599,000
309 N Pace Blvd #A+B, Pensacola, FL 32505
Two three-bedroom units offer open living areas and contemporary finishes.
Property Size2,566 SF
Days on Market144
Property Features for 309 N Pace Blvd #A+B
General Information
Standard status
Active
Size
2,566 SF
Property subtype
Multi Family Home
Building Details
Building Size
2,566 SF
Year Built
2025
Stories
2
Units
2
Listing Agency:
FMIG
(850) 889-2571
Listed By:
Faith Morgan · License #ALABAMA000162267
Source:
Kimwardrealty
Added: Mar 29
Changed: Aug 11
Last Checked: Aug 17 at 10:28PM
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 FMIG
Investment Insights
Based on property information with market context.
This 2025-built duplex contains two townhome-style residences, each arranged with three bedrooms and two bathrooms. Unit A provides 1,324 square feet, while Unit B measures 1,242 square feet. Both residences feature open living areas and contemporary finishes associated with new construction, offering a recently completed configuration for an owner-occupant or rental-focused buyer.
The property is located at 309 N Pace Blvd in Pensacola, near downtown, shopping, dining, and major roadways. The two-unit layout combines separate residential spaces within one newer asset, with each unit offering a matching bedroom and bathroom count while differing in overall size.
The property is located at 309 N Pace Blvd in Pensacola, near downtown, shopping, dining, and major roadways. The two-unit layout combines separate residential spaces within one newer asset, with each unit offering a matching bedroom and bathroom count while differing in overall size.
Key Highlights
- 2025‑built duplex with two townhome‑style units
- Unit A offers 1,324 square feet with 3 bedrooms and 2 bathrooms
- Unit B provides 1,242 square feet with 3 bedrooms and 2 bathrooms
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
$25,255
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%
$505,100
$505.1K
Cap Rate 7%
$360,786
$360.8K
Cap Rate 9%
$280,611
$280.6K
Market Conditions
NOI Build-Up for 2,566 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
$41.6K $16.20/SF
− Vacancy
−$5.5K −$2.14/SF
EGI
$36.1K $14.06/SF
− OpEx
−$10.8K −$4.22/SF
NOI
$25.3K $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%
$505,100
Cap Rate 7%
$360,786
Cap Rate 9%
$280,611
Alternative Uses
Best Use
Multifamily LT 5
$360.8K
$315.7K – $420.9K
NOI $25,255 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$331.2K
$289.8K – $386.4K
NOI $23,185 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$753.1K
$659.0K – $878.6K
NOI $52,716 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
734
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 - Two three-bedroom units offer open living areas and contemporary finishes.
Where is this duplex located?
The property is located at 309 N Pace Blvd #A+B Pensacola, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 2025‑built duplex with two townhome‑style units; Unit A offers 1,324 square feet with 3 bedrooms and 2 bathrooms; Unit B provides 1,242 square feet with 3 bedrooms and 2 bathrooms
