Pensacola Multifamily Investment
8650 Jernigan Rd Pensacola, FL 32514
8650 Jernigan Rd, Pensacola, FL, 32514
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For Sale
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39-unit multifamily property in Pensacola's Ferry Pass neighborhood.
Days on Market106
Property Features for 8650 Jernigan Rd
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Listing agency
Marcus & Millichap - Fort Lauderdale
(205) 510-9120
Listed by
Josh Jacobs · License #License(s): AL: 000100755-0
(205) 510-9120
Source
Marcusmillichap
Added: Apr 8 Updated: Jul 10 at 1:15PM Checked: Jul 21 at 2:58AM
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Investment Insights
Based on property information with market context.
The Bennett Apartments, located in Pensacola, FL, presents an opportunity to acquire 39 multifamily units. Constructed in phases during the 1970s and 1980s, the property consists of 38 single-level duplex units and one four-bedroom house. The property is located in the Ferry Pass neighborhood, offering accessibility and convenience. Key job drivers are nearby, including the University of West Florida (3-miles away), Baptist and Ascension Sacred Heart hospitals, and NAS Pensacola. Entertainment options include Gulf beaches, downtown Pensacola's dining and cultural scene, shopping districts, and recreational parks. Escambia County public schools, including Ferry Pass Elementary, serve the area. The area's median household income is approximately $66,644. Within a 3-mile radius, average home values hover around $250,000. The property offers potential for top line growth via a continued interior value-add program. There is a pathway towards increasing the overall unit count via additional construction of at least 8 more units. The property is positioned as an attractive alternative in a balanced market. Pensacola experiences in-migration from high-cost states and other regions. Recent job growth of over 2 percent annually across defense, healthcare, education, and emerging sectors like logistics continues to expand the labor force. Multifamily occupancy is holding strong near 95 percent.
Key Highlights
- Value‑add potential with proven rental increases of up to 35% achieved on renovated units.
- Opportunity to develop at least 8 additional units on the existing property footprint.
- Located in the desirable Ferry Pass neighborhood of Pensacola, close to major employers like the University of West Florida and hospitals.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Multifamily property - 39-unit multifamily property in Pensacola's Ferry Pass neighborhood.
Where is this multifamily property located?
The property is located at 8650 Jernigan Rd Pensacola, FL.
What are key features of this property?
This property features: Value‑add potential with proven rental increases of up to 35% achieved on renovated units.; Opportunity to develop at least 8 additional units on the existing property footprint.; Located in the desirable Ferry Pass neighborhood of Pensacola, close to major employers like the University of West Florida and hospitals.
