0.29 Acres of Residential Land for Sale in Pensacola, Florida

This listing consists of a 93' wide by 117' deep, cleared level lot, at the dead end of a paved road (34th St) and a very well constructed 16' x 24' stick-built building with Hardie siding that can be converted into a 384 sf Tiny Home. The building is slightly off grade and can be moved if necessary. The Water TAP and electricity are both in place. With the proximity to downtown Pensacola, the airport, and the two large hospitals, a leading travel professional housing company has stated a tiny home in this location should produce a monthly rental income of $1800 per month plus other fees. Using a total figure of $150,000, which includes the build out and the land, and a yearly income of $21,600 the CAP rate would be 14.4%. Also included, is half interest in the road to the south (old 34th street), the road has been vacated by Escambia County and deeded to the owners on each side of the street. The property is not inside the Pensacola City limits.