18916 Front Beach RdPanama City Beach, FL 32413

Property Details for 18916 Front Beach Rd

Year built

2023

Lot size

0.25 AC

Property size (Sq ft)

2,700 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a remarkable chance to acquire a two-unit, Class A multifamily property located at 18916 Front Beach Rd, Panama City Beach, FL 32413. Boasting a substantial 2,700 square feet of living space across three stories, this 2023-built property sits on a generous 0.25-acre lot offering breathtaking Gulf views from every room. Currently configured as a single-family home, the property is primed for a value-add investment strategy, either as a flip or as a rental property. The asking price is $2,199,999, with a compelling 11.36% cap rate and a current Net Operating Income (NOI) of $250,000. The seller is motivated and offering a unique incentive: completion of the garage conversion into a first-floor master suite and bathroom, adding to the property's value. A quote for a pool installation is available, further enhancing the property's potential. Based on comparable properties, the completed property is projected to appraise for $2.4 million. The expansive backyard provides ample space for future development, such as a guest house, pool, or outdoor kitchen, adding significant value and rental income potential. This property represents a significant opportunity for substantial returns in a highly desirable beachfront location. The property is in distressed sale condition.

Location Insight

City

Panama City Beach

County

Bay

State

Florida

Latitude

30.2368

Longitude

-85.9186

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at support@paperhouses.co and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at support@paperhouses.co.