New Construction Townhomes in
1116 Mercedes Avenue Panama City, FL 32401
1116 Mercedes Avenue, Panama City, FL, 32401
$570,000
For Sale
$570,000
MULTI_FAMILY - Panama City, FL
Property Size2,799 SF
Lot Size0.27 Acres
Price / SF$203.64
Days on Market339
Property Features for 1116 Mercedes Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Property condition
- Under Construction
- Standard status
- Active
- APN
- 16529-000-000
- Size
- 2,799 SF
- Lot size
- 0.27 Acres
Taxes and HOA fees
- Tax Description
- 4 4S 14W -69- 69A BEG 495' N OF SW COR OF SE1/4 OF NE1/4 TH E 120 N 99' W 120' S 99' TO POB ORB 738 P 769 ORB 2002 P 428 ORB 2002 P 426
Building Details
- Year built
- 2025
- Roof type
- Shingle
Listing agency
Think Real Estate
(850) 270-4200
Listed by
Jamie A Kitzmiller · License #SL3465582
(850) 394-7491
Added: Aug 19, 2025 Updated: May 29 at 10:49PM Checked: Jul 23 at 10:06AM
MLS# 777837
Copyright © 2026 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
New construction townhomes are available in Panama City, Florida. The property, situated on a 0.27-acre lot, features a total area of 2799 square feet. Each unit offers a 2-bedroom, 2-bathroom layout within 933 square feet. The property is projected to rent for $1550-$1650 per unit, with an estimated 7-8% cap rate. Pro Forma Profit and Loss statements are available upon request.
Key Highlights
- New construction built in 2025.
- Projected rental income of $1550-$1650 per unit.
- Estimated 7‑8% cap rate.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $57.1k | $20.40 |
| − Vacancy | −$8.7k | −$3.12 |
| EGI | $48.4k | $17.28 |
| − OpEx | −$14.5k | −$5.18 |
| NOI | $33.9k | $12.10 |
2,799 SF · lease $20.40/SF/yr · vacancy 15.29% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$483.7K
$423.2K – $564.3K
NOI $33,858 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$442.8K
$387.5K – $516.6K
NOI $30,998 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$703.9K
$615.9K – $821.2K
NOI $49,274 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - New construction townhomes in Panama City, Florida, for sale.
Where is this duplex located?
The property is located at 1116 Mercedes Avenue Panama City, FL.
What is the asking price?
The asking price for this property is $570,000.
What are key features of this property?
This property features: New construction built in 2025.; Projected rental income of $1550-$1650 per unit.; Estimated 7‑8% cap rate.
