Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    116 Springfield Ave Panama City, FL 32401

    New
    For Sale
    $599,997

    MULTI_FAMILY - Panama City, FL

    Lot size:
    0.31 Acres
    Days on Market:
    6
    Last Refresh:
    Dec 7 at 12:06 pm

    Property Features for 116 Springfield Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    24226-000-000
    Lot size
    0.31 Acres

    Utilities

    Sewer type
    Public Sewer

    Building Details

    Year built
    1952
    Building materials
    Brick

    Neubauer Real Estate, Inc. ERA (850) 785-1551 [email protected]

    Listing agent Heather H Neubauer (850) 785-1581 License #3257545

    Listing date Dec 2, 2025

    Copyright © 2025 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.

    Overview

    Turnkey Investment Opportunity in Panama

    This turnkey investment opportunity features a fully remodeled property with six detached single-family units. Each unit includes one bedroom, one spacious bathroom, a living area, and a kitchen. The property was completely updated in 2021. It is fully occupied and generates $61,500 in annual gross income, with rent rolls available. Updates include new 30-year dimensional shingle roofs, energy-efficient windows, updated electrical wiring, fresh sheetrock, paint, and luxury vinyl plank flooring, as well as new kitchen cabinets and countertops. Each unit is individually metered for water and electricity, ensuring efficient management. The property is located at 116 Springfield Ave in Panama City, FL 32401, situated in Bay County. The lot size is 0.31 acres. This property is an excellent addition to any investment portfolio.
    Property Profile Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Walton
    State
    Florida
    Longitude
    -85.618867
    Latitude
    30.146857

    Nearby Similar for Sale

    • $1,150,000
      Pending

      Unique Bayfront Property with Income

      Bayfront property featuring a main house and six rental units.
      6035 Bus, Panama City, FL 32404
      View Details
    • New
      $528,000
      0.40 Acres

      Dual-Home Family Retreat Opportunity

      Dual-home property near Beach Drive, ideal for living and investment.
      1016 W 12Th St, Panama City, FL 32401
      View Details
    • New
      $1,850,000
      0.25 Acres

      Waterfront Multi-Family Investment Opportunity

      Waterfront property with new construction and income potential in Panama City.
      401 Massalina Dr, Panama City, FL 32401
      View Details
    • $699,900
      2,204 SF

      Renovated Multi-Unit Rental Property

      Turnkey, fully furnished rental property with proven rental history.
      3820 Treasure Cir, Panama City, FL 32408
      View Details
    • $694,000
      2,269 SF

      Upgraded Duplex with Rental Potential

      Duplex with multiple possibilities: live, rent, or short-term rent.
      3707 Mystic St, Panama City, FL 32408
      View Details
    • New
      $694,000
      0.13 Acres

      Adorable Duplex with Multiple Possibilities

      Upgraded duplex with short-term rental potential near lagoon access.
      3707 Mystic St, Panama City, FL 32408
      View Details

    FAQs

    What type of property is this?
    Single family property - Fully remodeled six-unit property generating $61,500 annual income.
    Where is this single family property located?
    The property is located at 116 Springfield Ave Panama City, FL.
    What is the asking price?
    The asking price for this property is $599,997.
    What are key features of this property?
    This property features: - Turnkey investment property with six detached, fully occupied single-family units.; - Generates $61,500 in annual gross income with rent rolls available.; - Fully remodeled in 2021 with new roofs, windows, electrical wiring, sheetrock, paint, flooring, kitchen cabinets, and countertops.
    (850) 785-1581
    Request Owner's contact information
    116 Springfield Ave Panama City, FL 32401
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    116 Springfield Ave
    Panama City, FL 32401
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    116 Springfield Ave Panama City, FL 32401
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.