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Lot/land
    • Price increase: $7.7M (6/30)
    $8,200,000

    612 South 1st St, Pensacola, FL 32507

    --beds
    --baths
    7Acres
    Unimproved Land
    Built in ----
    7 Acres Lot
    $-- Zestimate®
    $--/sqft
    $-- HOA

    What's special

    SPINNAKER COVE | PREMIER WATERFRONT DEVELOPMENT OPPORTUNITY A master-planned, gated community spanning 7+ acres along Bayou Grande, Spinnaker Cove offers direct access to Pensacola Bay and front-row views of the iconic Blue Angels. Featuring access to 18+ community boat slips and the acquired Anne’s Bayou with proposed walking trails, this luxury enclave sits minutes from NAS Pensacola and White Island’s future sand replenishment project. Zoned for flexible mixed-use this opportunity is ideal for a blend of waterfront estates, luxury townhomes, high-density residential, and retail. Development potential includes condominiums, a rooftop restaurant, boutique hotel, co-working space, and a café. With all zoning approvals, conditional use permits, and engineering studies complete, this investment opportunity is turnkey-ready. Positioned within the Navy Boulevard revitalization corridor, demand is bolstered by a strong military and vacation rental market—making Spinnaker Cove a rare opportunity to shape Pensacola’s next landmark coastal community. Please contact listing agent for an executive summary of the development and/or access to due diligence documents.
    23 days
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    335
    |
    9
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    Zillow last checked:

    Listing updated:

    Listed by:

    John Birdwell 850-208-1686,

    Scenic Sotheby's International Realty

    Source: PAR,MLS#: 667648MLS Logo

      Facts & features

      Interior

      Features
      • Has basement: No
      Video & virtual tour

      Property

      Features
      • On waterfront: Yes
      • Waterfront features: Bayou
      Lot
      • Size: 7 Acres
      Details
      • Parcel number: 512s306046000018

      Utilities & green energy

      • Sewer: Public Sewer
      • Water: Public

      Community & HOA

      Community
      • Subdivision: Spinnaker Cove
      HOA
      • Has HOA: Yes
      Location
      • Region: Pensacola

      Financial & listing details

      • Tax assessed value: $65,000
      • Annual tax amount: $605
      • Price range: $8.2M - $8.2M
      • Date on market: 6/30/2026
      • Cumulative days on market: 375 days

        Estimated market value

        Not available

        Estimated sales range

        Not available

        Not available

        Price history

        DateEventPrice
        6/30/2026Price change$8,200,000+1594.6%
        Source: PAR #667648 Report a problem
        6/10/2026Price change$483,888+5.2%
        Source: PAR #677847 Report a problem
        6/10/2026Price change$460,000-9.7%
        Source: PAR #681756 Report a problem
        5/21/2026Listed for sale$509,360-93.2%
        Source: PAR #677847 Report a problem
        5/7/2026Contingent$7,500,000+1462.5%
        Source: PAR #667648 Report a problem
        4/29/2026Price change$480,000-10.3%
        Source: PAR #681756 Report a problem
        3/19/2026Listed for sale$535,000
        Source: PAR #677847 Report a problem
        2/20/2026Contingent$535,000
        Source: PAR #677847 Report a problem
        2/18/2026Price change$535,000-92.9%
        Source: PAR #677847 Report a problem
        12/2/2025Price change$7,500,000-8.5%
        Source: PAR #667648 Report a problem
        7/13/2025Listed for sale$8,200,000+10833.3%
        Source: PAR #667648 Report a problem
        10/8/2020Listing removed$75,000+15.4%
        Source: RONALD C. FAGGIONI #568271 Report a problem
        4/16/2020Sold$65,000-13.3%
        Source: PAR #568266 Report a problem
        2/24/2020Listed for sale$75,000
        Source: RONALD C. FAGGIONI #568271 Report a problem
        11/25/2019Listing removed$75,000
        Source: RONALD C. FAGGIONI #558984 Report a problem
        8/12/2019Listed for sale$75,000-46.4%
        Source: RONALD C. FAGGIONI #558984 Report a problem
        5/25/2017Listing removed$1,495
        Source: Teresa Report a problem
        2/13/2017Listed for rent$1,495
        Source: SUN QUEST PROPERTIES OF NWF,I #512147 Report a problem
        1/30/2015Sold$140,000+382.8%
        Source: Agent Provided Report a problem
        2/11/2013Sold$29,000-84.9%
        Source: Public Record Report a problem
        4/13/2007Sold$192,000+668%
        Source: Agent Provided Report a problem
        7/20/2004Sold$25,000-80.8%
        Source: Public Record Report a problem
        4/15/1998Sold$130,000+8.3%
        Source: Public Record Report a problem
        2/14/1996Sold$120,000
        Source: Public Record Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2024$605 -89.4%$65,000 -85.3%
        2023$5,714 +1123.5%$442,236 +940.6%
        2022$467 +26.9%$42,500 +66.7%
        2021$368 +1.6%$25,500
        2020$362 -0.8%$25,500
        2019$365 $25,500 +7.4%
        2018$365 +5%$23,750
        2017$348 -2.1%$23,750
        2016$355 -1.6%$23,750
        2015$361 $23,750
        2014$361 $23,750
        2013-- $23,750 +66.7%
        2012-- $14,250
        2011-- $14,250
        2010-- $14,250 -29.4%
        2009-- $20,188
        2008-- $20,188 +0%
        2007-- $20,180 -5%
        2006-- $21,250
        2005-- $21,250 +136.1%
        2004-- $9,000 +16.3%
        2003-- $7,740
        2002-- $7,740
        2001-- $7,740
        2000-- $7,740
        Find assessor info on the county website

        Monthly payment

        Estimated monthly payment$1,822
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
        See how much you could borrow to make a competitive offer.
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        Climate risks

        Neighborhood: 32507

        Getting around

        22 / 100
        Car-Dependent
        17 / 100
        Minimal Transit
        41 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating
        Schools provided by the listing agent
        • Elementary: Warrington Elementary
        • Middle: WARRINGTON
        • High: Pensacola

        Source: PAR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

        A local agent can set up tours, give advice and negotiate with sellers.

        A local lender can help you make sure your offer is ready when you are.

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