700 Palm Blvd N Niceville, FL 32578
Niceville AreaEstimated payment $9,673/month
Highlights
- Double Pane Windows
- Storage
- Guest Parking
- Lula J. Edge Elementary School Rated A-
- Tile Flooring
- Central Heating and Cooling System
About This Home
Discover the potential of this well-maintained 8-unit apartment complex, perfectly positioned for steady rental income and future growth. The property consists of two buildings connected by a breezeway, offering a cohesive layout and convenient access for residents. Each of the eight units features 2 bedrooms, 1 full bath, a comfortable living room, a dedicated dining area, and a functional kitchen equipped with an electric oven, pantry, and refrigerator. Four units are currently tenant-occupied with varying lease terms, providing immediate income while leaving room for strategic updates or new tenants as desired. Sitting on a generously sized lot, this property offers rare development flexibility. There is ample space to expand up to 15 total units, allowing the addition of another apartment building, townhomes, or even single-family homes—making it an ideal opportunity for both seasoned investors and developers. Located just down the road from Northwest Florida State College and nearby medical facilities, the demand for quality rental housing in this area remains strong. With its prime location, existing income, and room to grow, this property is truly a standout investment with unlimited potential.
Property Details
Home Type
- Apartment
Year Built
- Built in 1985
Parking
- Guest Parking
Home Design
- Slab Foundation
- Frame Construction
- Shingle Roof
Interior Spaces
- 7,052 Sq Ft Home
- 2-Story Property
- Ceiling Fan
- Double Pane Windows
- Blinds
- Storage
- Fire and Smoke Detector
Kitchen
- Dishwasher
- Laminate Countertops
Flooring
- Tile
- Vinyl
Bedrooms and Bathrooms
- 2 Bedrooms
- 1 Full Bathroom
Eco-Friendly Details
- Energy-Efficient Insulation
Schools
- Local School In County Elementary And Middle School
- Local School In County High School
Utilities
- Central Heating and Cooling System
- Baseboard Heating
- Electric Water Heater
- High Speed Internet
- Cable TV Available
Community Details
- 8 Units
Listing and Financial Details
- Assessor Parcel Number 051S22256B00150080
Map
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 11/24/2025 11/24/25 | For Sale | $1,500,000 | -- | $213 / Sq Ft |
Source: Pensacola Association of REALTORS®
MLS Number: 674157
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Ask me questions while you tour the home.