Quadplex with Private Outdoor
For Sale
$580,000
Pending
672 S 72nd Ave, Pensacola, FL 32506
MULTI_FAMILY - Pensacola, FL
Property Size3,732 SF
Days on Market116
Property Features for 672 S 72nd Ave
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 8, Bathroom 4, Bedroom 4, Bedroom 7, Bedroom 5, Bathroom 1
Window features
Blinds
Exterior features
Balcony
Fencing
Privacy
Fireplace
1
Appliances
Dishwasher, Refrigerator
Lot features
Interior Lot
Elementary school
Navy Point
Middle school
WARRINGTON
High school
Escambia
Directions
Hwy 98 West - North on 72nd Ave at the Casey's - the complex is located on the right about 1/4 mile or so. Turn right at the fire hydrant.
Standard status
Pending
APN
202S314110053006
Size
3,732 SF
Taxes and HOA fees
Tax Description
BEG AT SW COR OF LT 1 BLK F LAKE CHARLENE S/D PB 9 P 53A-53D TH N 0 DEG 50 MIN 32 SEC E ALG E R/W LI 72ND AVE (66 FT R/W) 97 82/100 FT TO SW COR LT 2 BLK F TH S 89 DEG 13 MIN 08 SEC E ALG S LI OF SD LT 2 FOR 200 FT TH N 0 DEG 50 MIN 32 SEC E 293 47/100 FT TO POB TH CONT N 0 DEG 50 MIN 32 SEC E 97 82/100 FT N 89 DEG 13 MIN 08 SEC W 54 95/100 FT TH S 0 DEG 57 MIN 29 SEC W 97 82/100 FT S 89 DEG 13 MIN 0 SEC E 55 15/100 FT TO POB BEING LT 8 OF AN UNRECORDED PLAT BEING PART OF LT 5 BLK F LAKE CHARLENE S/D PB 9 P 53A 53D OR 9080 P 951 SEC 20/21 T 2S R 31
Legal Description
BEG AT SW COR OF LT 1 BLK F LAKE CHARLENE S/D PB 9 P 53A-53D TH N 0 DEG 50 MIN 32 SEC E ALG E R/W LI 72ND AVE (66 FT R/W) 97 82/100 FT TO SW COR LT 2 BLK F TH S 89 DEG 13 MIN 08 SEC E ALG S LI OF SD LT 2 FOR 200 FT TH N 0 DEG 50 MIN 32 SEC E 293 47/100 FT TO POB TH CONT N 0 DEG 50 MIN 32 SEC E 97 82/100 FT N 89 DEG 13 MIN 08 SEC W 54 95/100 FT TH S 0 DEG 57 MIN 29 SEC W 97 82/100 FT S 89 DEG 13 MIN 0 SEC E 55 15/100 FT TO POB BEING LT 8 OF AN UNRECORDED PLAT BEING PART OF LT 5 BLK F LAKE CHARLENE S/D PB 9 P 53A 53D OR 9080 P 951 SEC 20/21 T 2S R 31
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
in-unit laundry
private patio or balcony
Building Details
Year built
1982
Floors in Building
2
Number of units
4
Flooring type
Tile, Carpet
Building materials
Frame
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS REALTY GULF COAST
(850) 471-5000
Listed By:
Michael Warinner
(850) 876-9711
Added: Apr 24
Changed: Aug 10
Last Checked: Aug 17 at 9:06AM
MLS# 681570
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 3,732-square-foot quadplex, built in 1982, contains four two-bedroom, one-bath units. Each residence includes in-unit laundry, two dedicated parking spaces, and a private patio or balcony. Interior features include tile and carpet flooring, central heating and air conditioning, dishwashers, and refrigerators. The property also has privacy fencing, shingle roofing, frame construction, and a fireplace.
Three units are currently rented, and the fourth is vacant for an owner occupant or a new lease. The property is located in Pensacola near NAS Pensacola, Corry Station, and the Naval Hospital. Nearby development along Hwy 98 includes Casey's General Store, Publix Plaza with McAlister's Deli and Whataburger, Wawa, and Aldi.
Three units are currently rented, and the fourth is vacant for an owner occupant or a new lease. The property is located in Pensacola near NAS Pensacola, Corry Station, and the Naval Hospital. Nearby development along Hwy 98 includes Casey's General Store, Publix Plaza with McAlister's Deli and Whataburger, Wawa, and Aldi.
Key Highlights
- 3,732 square feet across four two‑bedroom, one‑bath units
- Three units currently rented; one unit is vacant
- Each unit includes two dedicated parking spaces and in‑unit laundry
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
$36,730
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
6.33%
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%
$734,600
$734.6K
Cap Rate 7%
$524,714
$524.7K
Cap Rate 9%
$408,111
$408.1K
Market Conditions
NOI Build-Up for 3,732 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
$60.5K $16.20/SF
− Vacancy
−$8.0K −$2.14/SF
EGI
$52.5K $14.06/SF
− OpEx
−$15.7K −$4.22/SF
NOI
$36.7K $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%
$734,600
Cap Rate 7%
$524,714
Cap Rate 9%
$408,111
Alternative Uses
Best Use
Multifamily LT 5
$524.7K
$459.1K – $612.2K
NOI $36,730 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$481.7K
$421.5K – $562.0K
NOI $33,720 @ 7.0% cap · market cap 5.81%
Theoretical Best
Office A
$1.10M
$958.4K – $1.28M
NOI $76,670 @ 7.0% cap · market cap 13.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
75%
Occupancy
Location Intelligence
Trade Area within ½ mile
376
Businesses Nearby
Explore this area
Business Placement
Demographics for 32506, FL
36,017
Population
16,625
Households
2.2
Avg Household Size
39
Median Age
24%
College-Educated
88%
High-School Grad
30.6 sq mi
ZIP Area
1,177
Density / Sq Mi
$59,978
Median Household Income
$36,216
Median Earnings
$1,280
Median Rent
$200,500
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?
Quadplex - Three units are leased, while the fourth is available for occupancy or leasing.
Where is this quadplex located?
The property is located at 672 S 72nd Ave Pensacola, FL.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: 3,732 square feet across four two‑bedroom, one‑bath units; Three units currently rented; one unit is vacant; Each unit includes two dedicated parking spaces and in‑unit laundry
