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    Remodeled Six-Unit Apartment Property
    Updated: May 13
    Remodeled Six-Unit Apartment Property

    119 College Avenue, Panama City, FL 32401

    $695,000
    5,222 sqft 0.41 AC lot
    Six income‑producing units across four buildings
    15 bedrooms and 9 bathrooms within 5,222 square feet
    0.41‑acre corner lot in Flood Zone X
    Primary residence renovated down to the studs with updated kitchens and three new HVAC systems
    Three detached single‑family homes, including one extensively remodeled unit
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    Four-Building Apartment Complex
    Updated: Jun 5
    Four-Building Apartment Complex

    114 S Highway 22 A, Panama City, FL 32404

    $1,600,000
    13,768 sqft 0.65 AC lot
    14‑unit apartment complex across 4 buildings
    8 units at 800+/- square feet and 6 units at 1,100+/- square feet
    0.65‑acre site with 13,768 square feet of property area
    100% occupied apartments
    New roofs installed on all buildings in April 2026
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    Six-Unit Apartment Building
    Six-Unit Apartment Building

    2600 E 1st Plaza, Panama City, FL 32401

    $675,000
    2,432 sqft 0.35 AC lot

    Recently built multifamily property with one-bedroom, one-bathroom residences and central heating and cooling.

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    Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center
    Renovated Garden-Style Apartment Community
    Renovated Garden-Style Apartment Community

    3510 / 3536 Saint John St, Panama City, FL 32401

    $6,243,750
    33,060 sqft

    Garden-style community with on-site laundry, a separate office building, and extensive unit and system upgrades.

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    6-Unit Apartment Building
    6-Unit Apartment Building

    528 Kraft Avenue, Panama City, FL 32401

    $1,300,000
    6,372 sqft

    Multifamily property with central HVAC, stacked washer-dryer appliances, and ramp access.

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    Renovated Six-Unit Apartment Property
    Renovated Six-Unit Apartment Property

    116 Springfield Avenue, Panama City, FL 32401

    $578,000
    2,907 sqft 0.31 AC lot

    Six detached residences combine updated interiors, separate utility metering, and established occupancy in a compact multifamily configuration.

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    Six-Unit Apartment Building
    Six-Unit Apartment Building

    116 Springfield Avenue, Panama City, FL 32401

    $578,000
    2,907 sqft 0.31 AC lot

    Fully occupied multifamily property with detached residences, updated interiors, and separate utility metering for water and electricity.

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    Six-Unit Apartment Building
    Six-Unit Apartment Building

    2600 E 1st Plaza, Panama City, FL 32401

    $675,000
    2,432 sqft

    Newer multifamily property with one-bedroom units and water and garbage service included in rent.

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    Five-Unit Townhome Apartment Building
    Five-Unit Townhome Apartment Building

    110 S Berthe Avenue, Panama City, FL 32404

    $1,099,500
    6,750 sqft 1.03 AC lot

    Two-story residences combine private garages, contemporary finishes, and shared exterior maintenance for streamlined ownership.

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    New Construction 5-Unit Apartment Building
    New Construction 5-Unit Apartment Building

    6710-6718 Cherry Street, Panama City, FL 32404

    $1,099,500
    6,750 sqft

    Five attached townhomes offer contemporary finishes, individual garages, and shared exterior maintenance for streamlined ownership.

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    Five-Unit Multifamily Property
    Five-Unit Multifamily Property

    520 Maine Ave, Panama City, FL 32401

    $350,999
    4,768 sqft

    Panama City multifamily property with three separately described buildings and residential income-producing zoning.

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    New Construction 5-Unit Apartment Building
    New Construction 5-Unit Apartment Building

    6720-6728 Cherry Street, Panama City, FL 32404

    $1,099,500
    6,750 sqft

    Two-story residences feature open living areas, attached garages, contemporary finishes, and covered rear patios.

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    Six-Unit Apartment Property
    Six-Unit Apartment Property

    116 Springfield Ave, Panama City, FL 32401

    $578,000
    2,907 sqft

    Remodeled rental compound with individually metered dwellings and fully occupied units.

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    Newly Built Five-Plex Apartment Building
    Newly Built Five-Plex Apartment Building

    5333-5345 Cherry Street, Panama City, FL 32404

    $1,575,000
    8,385 sqft

    2025-built five-plex is fully occupied with long-term tenants and attached 1-car garages for each unit.

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    4-Unit Apartment Building
    4-Unit Apartment Building

    1339 E Park Road #R1-4, Panama City, FL 32404

    $400,000
    3,000 sqft

    Two-bedroom apartments with one bath each and approximately 750 square feet per unit.

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    Remodeled 6-Unit Apartment Building
    Remodeled 6-Unit Apartment Building

    143 Claire Avenue #101, Panama City, FL 32401

    $399,900
    1,612 sqft

    Six studio apartments offer a compact multifamily configuration with updated interiors and manageable scale.

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    5-Unit New Construction Apartment Building
    5-Unit New Construction Apartment Building

    110 S Berthe Ave, Panama City, FL 32404

    $1,099,500
    6,750 sqft

    Five contemporary two-story residences offer private garages, modern finishes, and low-maintenance community upkeep.

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    50-Unit Multifamily Investment Opportunity
    50-Unit Multifamily Investment Opportunity

    3510/ 3536 Saint John Street, Panama City, FL 32401

    $6,200,000
    33,060 sqft 2.80 AC lot

    Renovated apartment community near Panama City Beach with assumable financing.

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    Waterfront Community with Marina
    Waterfront Community with Marina

    240 Harmon Avenue, Panama City, FL 32401

    $6,197,500
    29,796 sqft 1.05 AC lot

    34-unit waterfront community with 22-slip marina in revitalizing downtown.

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    14-Unit Renovated Apartment Building
    14-Unit Renovated Apartment Building

    3533 Highway 98, Panama City, FL 32401

    $1,190,000
    1,837 sqft

    Fully updated studio apartments with modernized building systems and on-site parking support residential operations.

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    Turn-Key Panama City Investment Property
    Turn-Key Panama City Investment Property

    1300 Grace Avenue, Panama City, FL 32401

    $1,150,000
    8,652 sqft

    Fully renovated 10-unit apartment building in growing Panama City.

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    New Construction Townhome Investment Opportunity
    New Construction Townhome Investment Opportunity

    6720-6728 Cherry Street, Panama City, FL 32404

    $1,099,500
    6,750 sqft

    Five-unit townhome building near Tyndall Air Force Base.

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    New Construction Townhome Investment Opportunity
    New Construction Townhome Investment Opportunity

    6710-6718 Cherry Street, Panama City, FL 32404

    $1,099,500
    6,750 sqft

    Five-unit townhome building near Tyndall Air Force Base.

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    Four-Building Multifamily Portfolio
    Four-Building Multifamily Portfolio

    114 S HWY 22 A, Panama City, FL 32404

    Contact for pricing
    13,768 sqft

    For sale multifamily portfolio with four buildings totaling 14 units.

    View details

    Panama City, FL Apartment Buildings Market Trends and Statistics

    Explore 39 apartment buildings for sale in Panama City, FL, showcased through 31 active listings on our real estate platform. These investment opportunities span a total of 238,951 square feet of properties for sale, with an estimated market value of $58,557,816.

    Sale prices for two-family homes in Panama City, FL start at $325,000, averaging $2,019,235, and reaching up to $6,243,750 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Demographics Overview

    Population 154K
    Population Growth (5Y) +1,132.7%
    Median Household Income $71,237
    College Educated 29.8%

    High-Yield Neighborhoods for Investment

    Identify Panama City submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    32408 $325K
    32405 $995.9K
    32404 $1.2M
    32401 $2.9M

    Taxes & Financing

    Tax Rate (average for all types) 1.42%
    Property Tax per SF $28.37 per SF
    Tax Rate vs County Average 0.07 pp above county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Bay County

    New Delisted

    Total CRE Inventory on Market (SF)

    Average Property Price per SF

    For-sale pricing trends across core commercial property types in Bay County

    Retail

    Residential Income

    Property Size Breakdown

    The majority of commercial real estate listings in Panama City fall within the 50,000 to 100,000 square foot range.

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    Most Searched ZIP Codes in Panama City, FL

    • 32401
    • 32404
    • 32405
    • 32408

    Featured Panama City Real Estate Agencies

    Realmo connects you with licensed Panama City CRE brokers providing property specifications, local market pricing, and commercial transaction underwriting support.

    Full Sail Realty of Northwest Florida
    1514 W. 23rd St, Suite B Panama City, FL 32405
    Phone: 18508194961
    FullSailNWFL.com

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