Residential Income Multifamily
For Sale
Contact for pricing
816 Bloodworth Lane, Pensacola, FL 32504
Well-maintained multifamily residences with organized systems and accessible parking and drive aisles for straightforward operations.
Property Size1,642 SF
Price / SF$240.56
Days on Market76
Property Features for 816 Bloodworth Lane
General Information
Standard status
Active
Size
1,642 SF
Property subtype
Multifamily
Zoning
HDR
Investment Type
Value Add
Building Details
Year Built
1943
Units
1
Tenancy
Single
Listing Agency:
Beau Box Commercial Real Estate
Listed By:
Rick Appleyard · License #FL SL3600713
Source:
Crexi
Added: Jun 4
Changed: Aug 8
Last Checked: Aug 17 at 1:10PM
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 Beau Box Commercial Real Estate
Investment Insights
Based on property information with market context.
816 Bloodworth Lane is a thoughtfully configured multifamily offering with well-proportioned residences featuring functional layouts and durable finishes. Communal amenities are maintained, and the building’s systems are organized to support efficient day-to-day operations. Managed exterior spaces provide tenants with comfortable outdoor areas.
The property is set on a site designed for accessible drive aisles and parking, supporting practical resident and service access. This on-site arrangement helps maintain smooth circulation for arrivals and routine property needs.
For investors or operators seeking a stabilized multifamily asset, the combination of maintained communal amenities, organized building systems, and functional living spaces is built to support ongoing occupancy. The accessible drive and parking layout also makes the property practical to manage, service, and maintain over time.
The property is set on a site designed for accessible drive aisles and parking, supporting practical resident and service access. This on-site arrangement helps maintain smooth circulation for arrivals and routine property needs.
For investors or operators seeking a stabilized multifamily asset, the combination of maintained communal amenities, organized building systems, and functional living spaces is built to support ongoing occupancy. The accessible drive and parking layout also makes the property practical to manage, service, and maintain over time.
Key Highlights
- Year built: 1943
- Multifamily property with well‑proportioned residences and functional layouts
- Communal amenities maintained for tenant retention
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
$14,836
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
3.76%
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%
$296,720
$296.7K
Cap Rate 7%
$211,943
$211.9K
Cap Rate 9%
$164,844
$164.8K
Market Conditions
NOI Build-Up for 1,642 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
$31.3K $19.08/SF
− Vacancy
−$4.4K −$2.65/SF
EGI
$27.0K $16.43/SF
− OpEx
−$12.1K −$7.39/SF
NOI
$14.8K $9.04/SF
Area
Escambia County, FL
Vacancy
13.90%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
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%
$296,720
Cap Rate 7%
$211,943
Cap Rate 9%
$164,844
Alternative Uses
Best Use
Apartment 5plus
$211.9K
$185.5K – $247.3K
NOI $14,836 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$481.9K
$421.7K – $562.2K
NOI $33,733 @ 7.0% cap · market cap 8.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
799
Businesses Nearby
Explore this area
Business Placement
Demographics for 32504, FL
21,791
Population
10,436
Households
2.1
Avg Household Size
43
Median Age
41%
College-Educated
92%
High-School Grad
10.5 sq mi
ZIP Area
2,075
Density / Sq Mi
$74,067
Median Household Income
$41,990
Median Earnings
$1,257
Median Rent
$242,400
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?
Multifamily property - Well-maintained multifamily residences with organized systems and accessible parking and drive aisles for straightforward operations.
Where is this multifamily property located?
The property is located at 816 Bloodworth Lane Pensacola, FL.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Year built: 1943; Multifamily property with well‑proportioned residences and functional layouts; Communal amenities maintained for tenant retention
