Tastefully remodeled 5th floor City (North) View 2BR/2BA unit in the beautiful, gated waterfront Port Royal development, just off of Main St, and one block from Palafox St. in the heart of Historic Downtown Pensacola. This is your chance to experience the Downtown lifestyle for less than $500k! Gorgeous views of Downtown Pensacola, day and night. Featuring LG Stainless Steel Range & Microwave, GE Cafe Refrigerator, Bosch Dishwasher. Updates include kitchen cabinets/Granite countertops/20" porcelain tile floors on diagonal in kitchen, and bathroom vanities and fixtures. Beautiful Santos Mahogany Floors in living areas and bedrooms. This unit comes with one of only 8 specified, end-unit covered parking spaces. 1268 Sq Ft with 144 Sq Ft of Balconies (2 Balconies total). Call today, and make this your new home or vacation spot! Monthly maintenance fee includes standard cable, internet, water/sewer, trash, pool upkeep, building/grounds maintenance and landscaping (including water for grounds sprinklers), pest control, all insurance (fire/windstorm/flood) for the property/structure, fire alarm/security monitoring, all common area exterior lighting/electricity, association management, land lease fee, and use of fitness room as well as community room with full kitchen. Port Royal Phase I is a low-density development consisting of only 60 units on a private gated peninsula surrounded on 3 sides by water. Enjoy the security of a gated community and the fantastic location - walking distance to parks, fine dining and casual eateries, quaint shops, world-famous Seville Quarter, Theaters & Concerts, the Symphony, art festivals, and Palafox St, named one of the "Top 10 Streets in America"!
Sold for $430,000
$430,000
501 Port Royal Way, Pensacola, FL 32502
2beds
1,268sqft
Condominium
Built in 1984
-- sqft lot
$437,500 Zestimate®
$339/sqft
$1,984 Estimated rent
Home value
$437,500
$407,000 - $473,000
$1,984/mo
Zestimate® history
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Zillow last checked:
Listing updated:
Listed by:
Frasier Phelps 850-485-2665,
Berkshire Hathaway HomeServices PenFed Realty
Bought with:
Eric Milstead
Florida's Top Properties, LLC
Source: PAR,MLS#: 640796
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 2
- Full bathrooms: 2
Primary bedroom
- Level: First
- Area: 176
- Dimensions: 16 x 11
Bedroom
- Level: First
- Area: 154
- Dimensions: 14 x 11
Kitchen
- Level: First
- Area: 120
- Dimensions: 15 x 8
Living room
- Level: First
- Area: 180
- Dimensions: 12 x 15
Heating
- Central
Cooling
- Central Air, Ceiling Fan(s)
Appliances
- Included: Electric Water Heater, Dryer, Built In Microwave, Dishwasher, Disposal, Refrigerator
Features
- Storage, Baseboards, Ceiling Fan(s), Elevator
- Flooring: Hardwood, Tile
- Windows: Blinds
- Has basement: No
Interior area
- Total structure area: 1,268
- Total interior livable area: 1,268 sqft
Property
Parking
- Total spaces: 1
- Parking features: Carport, 1 Space/Unit
- Carport spaces: 1
Features
- Levels: 4 to 7 Story
- Exterior features: Balcony
- Has private pool: Yes
- Pool features: In Ground, Community
- Has view: Yes
- View description: Bay, Bayou, Water
- Has water view: Yes
- Water view: Bay, Bayou, Water
- Waterfront features: Bay, Bayou, Waterfront, Block/Seawall
Lot
- Size: 4.07 Acres
- Features: Interior Lot
Details
- Parcel number: 000s009200501004
- On leased land: Yes
- Lease amount: $300
- Zoning description: Mixed Residential Subdiv
- Special conditions: Standard
Construction
Type & style
- Home type: Condo
- Architectural style: Contemporary
- Property subtype: Condominium
Materials
- Concrete
- Foundation: Slab
- Roof: Clay Tiles/Slate,Flat
Condition
- Resale
- New construction: No
- Year built: 1984
Utilities & green energy
- Electric: Circuit Breakers, Copper Wiring
- Sewer: Public Sewer
- Water: Public
Green energy
- Energy efficient items: Insulation, Insulated Floors, Insulated Walls
Community & HOA
Community
- Features: Community Room
- Security: Smoke Detector(s)
- Subdivision: Port Royal
HOA
- Has HOA: Yes
- Services included: Association, Cable TV, Maintenance Grounds, Insurance, Land Lease, Management, Trash, Water/Sewer
- HOA fee: $13,163 annually
Location
- Region: Pensacola
Financial & listing details
- Price per square foot: $339/sqft
- Tax assessed value: $278,960
- Annual tax amount: $4,613
- Price range: $430K - $430K
- Date on market: 2/23/2024
- Cumulative days on market: 6 days
- Road surface type: Paved
Price history
| Date | Event | Price |
|---|---|---|
| 4/2/2025 | Listing removed | $3,000$2/sqft |
Source: Zillow Rentals Report a problem | ||
| 2/23/2025 | Listed for rent | $3,000$2/sqft |
Source: Zillow Rentals Report a problem | ||
| 3/19/2024 | Sold | $430,000-1.1%$339/sqft |
Source:  PAR #640796 Report a problem | ||
| 2/29/2024 | Contingent | $435,000$343/sqft |
Source: PAR #640796 Report a problem | ||
| 2/23/2024 | Listed for sale | $435,000+37.3%$343/sqft |
Source: PAR #640796 Report a problem | ||
| 3/28/2017 | Sold | $316,852-0.9%$250/sqft |
Source: PAR #515171 Report a problem | ||
| 10/4/2010 | Listing removed | $319,600$252/sqft |
Source: ERA Beach Ball Realty #377806 Report a problem | ||
| 5/29/2010 | Price change | $319,600-7.2%$252/sqft |
Source: ERA BEACH BALL REALTY #377806 Report a problem | ||
| 10/11/2009 | Price change | $344,500+6%$272/sqft |
Source: ERA BEACH BALL REALTY #377806 Report a problem | ||
| 10/10/2009 | Listed for sale | $325,000$256/sqft |
Source: ERA BEACH BALL REALTY #377806 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $4,613 +2.7% | $278,960 +4.8% |
| 2023 | $4,492 +1.6% | $266,280 +2.4% |
| 2022 | $4,419 -9.2% | $259,940 -6.8% |
| 2021 | $4,868 +6.1% | $278,960 +4.8% |
| 2020 | $4,586 +1.8% | $266,280 +2.4% |
| 2019 | $4,508 | $259,940 -3.9% |
| 2018 | $4,508 -5.4% | $270,464 +33% |
| 2017 | $4,767 +30.8% | $203,300 |
| 2016 | $3,645 -0.6% | $203,300 +11.4% |
| 2015 | $3,667 | $182,500 +4.1% |
| 2014 | $3,667 | $175,372 +6.8% |
| 2013 | -- | $164,170 -1.3% |
| 2012 | -- | $166,331 +4.6% |
| 2011 | -- | $158,948 -2% |
| 2010 | -- | $162,270 -5.7% |
| 2009 | -- | $172,122 -12.8% |
| 2008 | -- | $197,344 -9.8% |
| 2007 | -- | $218,830 -7.1% |
| 2006 | -- | $235,550 +1367.6% |
| 2005 | -- | $16,050 -86.8% |
| 2004 | -- | $121,930 +46.7% |
| 2003 | -- | $83,140 +4.2% |
| 2002 | -- | $79,820 |
| 2001 | -- | $79,820 +2% |
| 2000 | -- | $78,290 |
Find assessor info on the county website
Neighborhood: Downtown
Nearby homes
- $2,647,9004 bd3 ba4.8k sqft1 Port Royal Way #1 & 3, Pensacola, FL 32502For Sale
- $676,900-- bd2 ba1.6k sqft7 Port Royal Way, Pensacola, FL 32502Off Market
- $805,9003 bd2 ba1.8k sqft9 Port Royal Way, Pensacola, FL 32502Off Market
- $1,050,500-- bd9 ba2.4k sqft11 Port Royal Way, Pensacola, FL 32502Off Market
- $608,100-- bd7 ba1.6k sqft12 Port Royal Way, Pensacola, FL 32502Off Market
- $640,1003 bd2 ba1.6k sqft13 Port Royal Way, Pensacola, FL 32502Off Market
- $823,600-- bd9 ba2.2k sqft14 Port Royal Way, Pensacola, FL 32502Off Market
- $777,8003 bd3 ba2.2k sqft15 Port Royal Way, Pensacola, FL 32502Off Market
Nearby schools
GreatSchools rating
- 2/10Global Learning AcademyGrades: PK-5Distance: 1.8 mi
- 4/10J. H. Workman Middle SchoolGrades: 6-8Distance: 5.8 mi
- 4/10Pensacola High SchoolGrades: 9-12Distance: 2.3 mi
Schools provided by the listing agent
- Elementary: Global Learning Academy
- Middle: WORKMAN
- High: Pensacola
Source: PAR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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- Florida
- Escambia County
- Pensacola
- 32502
- Downtown
- 501 Port Royal Way
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