1400 Gulf AvePanama City, FL 32401

Property Details for 1400 Gulf Ave

Year built

1977

Property size (Sq ft)

4,600 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

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.

Location Insight

City

Panama City

County

Bay

State

Florida

Latitude

30.1737

Longitude

-85.6802

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