| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 64th | Best |
| Amenities | 21st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8491 Old Spanish Trail Rd, Pensacola, FL, 32514, US |
| Region / Metro | Pensacola |
| Year of Construction | 1973 |
| Units | 20 |
| Transaction Date | 2023-06-28 |
| Transaction Price | $17,498,356 |
| Buyer | MOORINGS AFFORDABLE LLC |
| Seller | MOORINGS ASSOCIATES LTD |
8491 Old Spanish Trail Rd Pensacola 20-Unit Multifamily
Neighborhood occupancy is solid and renter demand is supported by stable local fundamentals, according to WDSuite’s CRE market data. The submarket’s balance of incomes and rents points to steady leasing with room for thoughtful value-add execution.
Located in an Inner Suburb of Pensacola, this property sits in a neighborhood rated B+ and is competitive among the 134 Pensacola-Ferry Pass-Brent neighborhoods. Local occupancy trends are healthy relative to national benchmarks, supporting income stability for well-managed assets.
Daily needs are reasonably covered, with grocery access stronger than many areas in the metro, while cafes, parks, childcare, and pharmacies are limited nearby. For investors, this mix suggests dependable convenience for residents without the premium pricing often associated with high-amenity corridors, a useful lens for commercial real estate analysis on workforce-oriented assets.
Housing stock in the neighborhood skews slightly newer than this asset’s 1973 vintage (neighborhood average 1982). Older construction typically implies selective capital planning for systems and interiors, but can also open renovation and repositioning upside versus newer, higher-basis product.
Within a 3-mile radius, recent trends show a modest decline in population alongside a small increase in households and smaller average household sizes; forecasts point to population and household growth, indicating a gradually expanding tenant base. The neighborhood’s renter-occupied share is a bit above many areas in the metro, signaling a meaningful pool of prospective renters that can support occupancy, while still leaving some competition from ownership options.
Home values are in a mid-range context for the region and have risen over the past five years. Combined with a rent-to-income profile that does not appear stretched, this supports renter retention and measured pricing power rather than aggressive rent-up assumptions.
Relative to neighborhoods nationwide, this area trends slightly safer than average based on crime percentiles, with improvements in both violent and property offense rates over the past year. Among the 134 neighborhoods in the Pensacola-Ferry Pass-Brent metro, it compares favorably to a broad middle cohort, offering investors a stable operating backdrop without requiring a premium for perceived safety.
While conditions can vary block to block, the directional declines in estimated violent and property offenses suggest positive momentum. Investors should continue to monitor trends over time, but current readings support consistent leasing and resident retention expectations.
This 20-unit, 1973-vintage property aligns with a workforce renter base in an Inner Suburb that shows healthy occupancy and balanced affordability. The asset’s older construction implies targeted CapEx and presents value-add potential to compete against newer stock. According to CRE market data from WDSuite, neighborhood occupancy sits above many national peers, and local incomes relative to rents support steady collections and manageable turnover.
Within a 3-mile radius, households have inched higher even as average household size has declined, and forward-looking projections point to population and household growth—tailwinds for renter pool expansion. Neighborhood-level amenity access is anchored by grocery and restaurants, while softer recreational and service density keeps positioning more “needs-based” than lifestyle-driven. That configuration typically supports durable leasing at practical rent levels.
- Occupancy strength versus national benchmarks underpins income stability
- 1973 vintage offers renovation and operational value-add potential with targeted CapEx
- Household growth and smaller household sizes within 3 miles expand the renter pool over time
- Balanced rent-to-income dynamics support retention and measured pricing power
- Risks: limited nearby recreational/childcare amenities, aging systems typical of older assets, and some competition from ownership options