Triplex with Detached Converted
For Sale
$795,000
4 W Desoto St, Pensacola, FL 32501
MULTI_FAMILY - Pensacola, FL
Property Size2,904 SF
Price / SF$273.76
Days on Market883
Property Features for 4 W Desoto St
General Information
Property type
Residential Multi Family
Property subtype
Other
Interior features
Baseboards, Ceiling Fan(s)
Appliances
Water Heater, Electric Water Heater, Built In Microwave, Dishwasher, Refrigerator
Subdivision
Belmont Tract
Lot features
Corner Lot, Historic District
Elementary school
Global Learning Academy
Middle school
WORKMAN
High school
Pensacola
Directions
From the corner of N Palafox St and W Gregory St, go north on N Palafox St. then turn west on W DeSoto St. House is on the corner of W De Soto St and N Palafox St.
Standard status
Active
APN
000S009010019049
Size
2,904 SF
Taxes and HOA fees
Tax Description
LTS 19 20 BLK 49 BELMONT TRACT OR 8284 P 310 CA 78
Legal Description
LTS 19 20 BLK 49 BELMONT TRACT OR 8284 P 310 CA 78
Utilities
Utilities
Cable Available
Cooling system
Multi Units, Central Air, Ceiling Fan(s)
Building Details
Year built
1937
Floors in Building
2
Number of units
3
Building materials
Brick, Frame
Roof type
Composition
Listing Agency:
Crystal Shores 2 Inc.
(850) 939-3837
Listed By:
Amity Nowling · License #BK3069096
(850) 293-6455
Added: Apr 4, 2024
Changed: Aug 2
Last Checked: Sep 3 at 5:06PM
MLS# 643152
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 triplex includes a duplex-style main building with two three-bedroom, two-bath units, plus a third detached converted one-bedroom, one-bath unit. The two 3 bed/2 bath units are listed at 1,452 SF each, and the detached unit is listed at approximately 600 SF. Total property size is 2,904 SF. The property includes baseboards and ceiling fan(s), and it is described as having been updated.
The address is 4 W Desoto St, Pensacola, FL 32501, located on a corner of N Palafox and W Desoto. Cooling is listed as ceiling fan(s) and central air. The building is constructed with brick and frame materials and has a composition roof. Utilities include cable available.
Appliances listed include a water heater (electric water heater), built-in microwave, dishwasher, and refrigerator. The unit finishes are described as featuring luxury vinyl plank flooring and white quartz countertops, along with modern appliances.
The address is 4 W Desoto St, Pensacola, FL 32501, located on a corner of N Palafox and W Desoto. Cooling is listed as ceiling fan(s) and central air. The building is constructed with brick and frame materials and has a composition roof. Utilities include cable available.
Appliances listed include a water heater (electric water heater), built-in microwave, dishwasher, and refrigerator. The unit finishes are described as featuring luxury vinyl plank flooring and white quartz countertops, along with modern appliances.
Key Highlights
- Two 3 bed/2 bath units in main building, 1,452 SF each
- Detached converted 1 bed/1 bath unit, approximately 600 SF
- Total property size listed at 2,904 SF
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
$28,581
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
3.60%
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%
$571,620
$571.6K
Cap Rate 7%
$408,300
$408.3K
Cap Rate 9%
$317,567
$317.6K
Market Conditions
NOI Build-Up for 2,904 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
$47.0K $16.20/SF
− Vacancy
−$6.2K −$2.14/SF
EGI
$40.8K $14.06/SF
− OpEx
−$12.2K −$4.22/SF
NOI
$28.6K $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%
$571,620
Cap Rate 7%
$408,300
Cap Rate 9%
$317,567
Alternative Uses
Best Use
Multifamily LT 5
$408.3K
$357.3K – $476.4K
NOI $28,581 @ 7.0% cap · market cap 3.60%
Second Best
Apartment 5plus
$374.8K
$328.0K – $437.3K
NOI $26,239 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$852.3K
$745.8K – $994.3K
NOI $59,660 @ 7.0% cap · market cap 7.50%
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
1,399
Businesses Nearby
Explore this area
Business Placement
Demographics for 32501, FL
10,960
Population
5,505
Households
2
Avg Household Size
41
Median Age
30%
College-Educated
86%
High-School Grad
3.7 sq mi
ZIP Area
2,962
Density / Sq Mi
$39,127
Median Household Income
$31,312
Median Earnings
$964
Median Rent
$277,500
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?
Triplex - Triplex with two 3 bed/2 bath units plus a detached 1 bed/1 bath unit, built in 1937.
Where is this triplex located?
The property is located at 4 W Desoto St Pensacola, FL.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Two 3 bed/2 bath units in main building, 1,452 SF each; Detached converted 1 bed/1 bath unit, approximately 600 SF; Total property size listed at 2,904 SF
