$1,000,000
Panama City, FL 32401
MLS# 774652
Status: Sold
8652 sqft
1 / 17
Property Description
Exceptional turn-key investment opportunity in the heart of Panama City near the growing downtown area. Boasting 10 large units consisting of eight 2/1s and two 1/1s this property stays full with an average rental rate of $1,195/month. Each unit is separately metered for electric and water. Landlord responsibilities are limited to grass, trash and maintenance. These units were completely renovated in 2019 after Hurricane Michael and are meticulously maintained offering low overhead for the next owner. Property is and has been professionally managed. Capture appreciation due to a growing market while you sit back and collect your cash flow. Panama City/Bay County MSA ranks 2nd nationally for percentage population growth per US Census Bureau. Contact listing agent today for more info.
Details
Maps
Contract Info
List Date: 2025-06-09
List Price: $1,150,000
List Price/SqFt: 132.92
Current Price: $1,000,000
Sub-Type: Multi-Family
Location
Area: 02 - Bay County - Central
Street #: 1300
Street Name: Grace
Street Suffix: Avenue
State: FL
Zip Code: 32401
County: Bay
Sub Area: 0203 - Bay - Central SW
Subdivision: Segler
Community/Resort: None
Waterfront: No
Parcel ID: 18406-000-000
Elementary School: Northside
Middle School: Jinks
High School: Bay
Directions: Traveling north on Harrison Avenue, turn left on 13th Street, property is on the right on corner of 13th St and Grace Ave.
Legal Description: SEGLER SUBDIV LOTS 21, 22, 23, 24 ORB 320 P 537 BLK 8 ORB 3944 P 496 MAP 92A1
General Property Info
List Class: Commercial
Construction Status: Construction Complete
Acreage: 0.32
SqFt Tot Bldg: 8652
Year Built: 1986
Status Change Info
Status: Sold
Under Contract Date: 2025-08-04
Sold Date: 2025-09-04
Sold Price: $1,000,000
Sold Price/SqFt: 115.58
Sold Price/Acre: 3125000
Multi-Family
# of Units: 10
Actual Gross Income: 138996.67
Net Operating Income: 72995.77
Property Features
Financing: Cash; Conventional
Utilities: All Utilities; Electricity - Connected; Public Sewer - Connected; Water Connected
Listing Office: CENTURY 21 Commander Realty
Last Updated: September - 04 - 2025
Information deemed reliable but not guaranteed.