Duplex Under
New
For Sale
$400,000
7251 Bogey Ln, Milton, FL 32570
Residential Income, Milton, FL
Property Size1,970 SF
Price / SF$203.05
Days on Market1
Property Features for 7251 Bogey Ln
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Patio and Porch features
Porch
Appliances
Dishwasher, Microwave
Subdivision
Country Club Estates
Lot features
Central Access
Elementary school
Berryhill
Middle school
KING
High school
Milton
Directions
Pine Blossom Road to Fairway Drive. Take Fairway Drive to Bogey Lane. Take Bogey lane to the unit on the right.
Standard status
Active
APN
072N28075500B000040
Size
1,970 SF
Taxes and HOA fees
Tax Description
COUNTRY CLUB ESTATES PARCEL 1: N 80 FT OF LOT 4 BLK B AS DES IN OR 4753 PG 1700 LESS ALL MINERAL RIGHTS
Legal Description
COUNTRY CLUB ESTATES PARCEL 1: N 80 FT OF LOT 4 BLK B AS DES IN OR 4753 PG 1700 LESS ALL MINERAL RIGHTS
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2026
Floors in Building
1
Number of units
2
Flooring type
Tile
Roof type
Composition
Listing Agency:
Ross And Co.
(850) 807-4060
Listed By:
Lawrence Bonck · License #11244
(850) 499-1103
Added: Sep 3
Last Checked: Sep 3 at 5:06PM
MLS# 688485
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 duplex is under construction with 1,970 square feet planned for completion in 2026. Interior specifications include granite countertops in the kitchens and bathrooms, hard-surface flooring throughout the units, and central heating and air conditioning. A dishwasher and microwave are included, with tile flooring also identified among the property features.
The property will use a septic tank system and have a composition roof. Exterior features include a porch, while a 10-year structural builder’s warranty is included. Finish colors and selected options may vary during construction.
The property will use a septic tank system and have a composition roof. Exterior features include a porch, while a 10-year structural builder’s warranty is included. Finish colors and selected options may vary during construction.
Key Highlights
- 1,970‑square‑foot duplex under construction
- Scheduled 2026 construction year
- Granite countertops planned for kitchens and 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
$18,041
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
4.51%
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%
$360,820
$360.8K
Cap Rate 7%
$257,729
$257.7K
Cap Rate 9%
$200,456
$200.5K
Market Conditions
NOI Build-Up for 1,970 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
$27.2K $13.80/SF
− Vacancy
−$1.4K −$0.72/SF
EGI
$25.8K $13.08/SF
− OpEx
−$7.7K −$3.92/SF
NOI
$18.0K $9.16/SF
Area
Santa Rosa County, FL
Vacancy
5.20%
Lease Rate
$13.80 /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%
$360,820
Cap Rate 7%
$257,729
Cap Rate 9%
$200,456
Alternative Uses
Best Use
Multifamily LT 5
$257.7K
$225.5K – $300.7K
NOI $18,041 @ 7.0% cap · market cap 4.51%
Second Best
Apartment 5plus
$227.0K
$198.6K – $264.8K
NOI $15,888 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$485.1K
$424.5K – $565.9K
NOI $33,956 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Explore this area
Business Placement
Demographics for 32570, FL
33,144
Population
15,387
Households
2.2
Avg Household Size
41
Median Age
23%
College-Educated
92%
High-School Grad
301.1 sq mi
ZIP Area
110
Density / Sq Mi
$73,615
Median Household Income
$38,394
Median Earnings
$1,233
Median Rent
$240,800
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 - New construction duplex with granite finishes, hard-surface flooring, and covered porch space.
Where is this duplex located?
The property is located at 7251 Bogey Ln Milton, FL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 1,970‑square‑foot duplex under construction; Scheduled 2026 construction year; Granite countertops planned for kitchens and bathrooms
