The village of Pancyrevka is located on the banks of the Inza River, 6 km southwest of the city of Inza. It originated in the 17th century and was previously part of the Gorodishchensky district of the Penza province. A road to Saransk passed through the village, and it was owned by the landowners Morozov. The estate of the last owner, Pavel Timofeevich Morozov, who was considered exemplary, had a beautiful manor park and a greenhouse. Local peasants were engaged in making barrels for distilleries. According to data from 1864, there were 57 households and two Orthodox churches in the village. In 1913, Pancyrevka had 107 households and about 500 residents. In 1996, the population of the village was 1008 people.

The stone Nikolsky church in Pancyrevka was built in 1865 as a manor church. During the Soviet era, in the period of the struggle against religion, the church was closed. In the 1980s, the building was used as a warehouse for the poultry farm "Pancyrevsky."

Currently, the church is in a state of neglect and is deteriorating. It is located in a complex with farm buildings of the estate from the second half of the 19th century on the banks of the Inza River, on the outskirts of the village. The church has a rectangular shape with a semicircular apse and a rectangular narthex on the western side. The low church is topped with a wide bulbous dome on a blind drum with false windows.

The main dimensions of the church are 28×19 m. The church in Pancyrevka is an example of a centralized structure in the Russian-Byzantine style, without a refectory and bell tower. The decor of the church is characterized by simplicity and expressiveness of large decorative forms. The northern and southern facades are divided by pilasters into three parts. The arched portal is united by the motif of a semicircular arch, which rises to the full height of the facade, with a round panel above the entrance. Side niches in the form of arches with keel-shaped finishes are pierced by arched windows and separated by a cornice. The corners are decorated with pilasters. The drum is adorned with arched niches divided by pilasters. The walls, pierced by arched openings, are decorated with rustication, strips, and round medallions.

The facade decor includes pilasters, perspective arches with keel-shaped finishes, and false zakomaras. A narrow cornice runs along the upper part of the church's square. Inside, the church has four cruciform pillars, on which, as well as on the wall pilasters, rest the supporting arches that support eight cross vaults and a central hemispherical dome. The apse is covered with a conch.