$649,000 - 820 S K St, Pensacola

Opportunities like this are nearly impossible to find in Sanders Beach. This rare 0.46-acre (125’ x 160’) corner parcel, zoned Multi-Family, offers a prime opportunity for investors, builders, or those looking to secure a large homesite near the water in Pensacola. Positioned with views of Pensacola Bay at the end of K St and just minutes from downtown, the property is within walking distance to the Pensacola Yacht Club, MarineMax Marina, waterfront park, kayak launch, pier, and boardwalk, Sander Beach community center (Free gym use at the community center for owners in Sanders Beach) and located in a golf cart-friendly coastal neighborhood. Recent comparable sales indicate the primary value is in the land, making this a compelling redevelopment opportunity with multiple exit strategies. Preliminary layout suggests potential to subdivide into five 30’ x 125’ lots (buyer to verify with local zoning and planning). The main home (1975) offers 1,491 SF, 2 bedrooms and 2 bathrooms, with key updates already completed including roof (2021), HVAC (2020), and windows (2022—ideal for interim rental income or use while planning redevelopment. A beautiful 20’ x 40’ x 12' metal building (2008), wind-rated to 140 mph, adds significant value with workshop space, storage, and an upper-level office/apartment with full bath. A second home (1950s) is present and will require significant renovation or removal. A greenhouse is also on site and in need of repair. Demolition estimates are available for each building. Large, multi-family zoned parcels this close to the water are increasingly scarce in Pensacola—making this a standout opportunity for development, long-term hold, or building a custom coastal residence.