For Sale
$900,000

1400 Gulf AvePanama City, FL 32401

10-Unit Multifamily, High ROI Potential

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 10-unit apartment building, located at 1400 Gulf Ave in Panama City, Florida, presents a compelling investment opportunity. Boasting 4,600 square feet of net rentable space, the property offers a strong 6.50% capitalization rate and a compelling price point of $900,000, or $90,000 per unit. Constructed in 1977, this single-building complex benefits from strong occupancy and consistent rental collections. Analysis indicates approximately 25% rental upside potential, suggesting significant room for increased profitability. The property's convenient location off 15th Street places it less than two miles from downtown Panama City, providing easy access to major shopping centers, diverse dining options, and popular tourist attractions. Situated in one of the top three largest vacation destinations in the nation, this location offers significant advantages. The property's attractive floor plans and proximity to major economic drivers make it a highly desirable rental option for a wide range of tenants. The property's address is 1400 Gulf Ave, Panama City, FL 32401, within Bay County.

Highlights

  • Significant rental upside potential (approx. 25%).
  • High occupancy and strong rent collection history.
  • Panama City location, conveniently situated off 15th Street.
  • Less than two miles from downtown Panama City's shopping, dining, and tourist attractions.
  • Situated in a top-three national vacation destination.
  • Prime location and desirable floor plans attract tenants employed by nearby major employers.

Property Details for 1400 Gulf Ave

Property type
Apartment buildings
Square Feet
4,600 SF
Year Built
1977
Buildings
1
Units
10

Location Insight

City
Panama City
County
Bay
State
Florida
Latitude
30.173739
Longitude
-85.6802459
1400 Gulf Ave, Panama City, Florida

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1400 Gulf Ave
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