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    The Largest CRE Database in the US with Over 1 Million Listings

    13809 Bay Ave Panama City Beach, FL 32413

    Sponsored
    For Sale
    $700,000

    MULTI_FAMILY - Other - Panama City Beach, FL

    Property size:
    1,716 SF
    Days on Market:
    1
    Last Refresh:
    Feb 19 at 9:06 pm

    Property Features for 13809 Bay Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 1, Bedroom 3, Bathroom 2, Bathroom 4, Bedroom 1, Bathroom 3, Bedroom 4, Bedroom 2
    Bedrooms
    4
    Bathrooms
    4
    APN
    34749-020-000
    Patio and Porch features
    Patio
    Fencing
    Fenced
    Appliances
    ElectricCooktop, ElectricRange
    Size
    1,716 SF

    Utilities

    Sewer type
    Public Sewer
    Cooling system
    Window Unit(s), Ceiling Fan(s)

    Building Details

    Year built
    1963
    Building materials
    Block
    Roof type
    Metal
    Architectural style
    Other
    Additional Structures
    Shed(s)

    We can help!

    Listing Contact
    Wendi Ligas

    Keller Williams Success Realty (850) 249-0313

    Listing agent Wendi Ligas (850) 249-0313

    Listing date Feb 19, 2026

    MLS# 785519 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Historic Duplex Near Panama City Beach

    This duplex property is located in the Bid-A-Wee Beach community of Panama City Beach. Constructed during the Cold War era, the property was originally used as barracks housing for military personnel. Situated on a double lot with two separate addresses, the property is considered one of the premier parcels in Bid-A-Wee. The homesite offers the potential to build two three-story homes or create a multi-generational beach compound. Short-term rentals are allowed, and there is no HOA. The existing duplex features 4 bedrooms and 4 renovated bathrooms, with over $70,000 in recent improvements. Each side lives like its own private residence, suitable for renting both for maximum income, occupying one side while renting the other, or holding as an investment while planning future construction. The property has projected rental potential reaching up to $100,000 annually. Owners and guests have private access to five gated Bid-A-Wee Beach entrances, offering a quieter, more private beach experience. The property size is 1716 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Panama City Beach
    County
    Bay
    State
    Florida
    Longitude
    -85.848071
    Latitude
    30.202677

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    FAQs

    What type of property is this?
    Duplex - Duplex near the beach with income potential and development opportunities.
    Where is this duplex located?
    The property is located at 13809 Bay Ave Panama City Beach, FL.
    What is the asking price?
    The asking price for this property is $700,000.
    What are key features of this property?
    This property features: - Rare double lot in Bid-A-Wee Beach, build two homes or a compound.; - Private access to five gated Bid-A-Wee Beach entrances.; - No HOA and short-term rentals allowed, great income potential.
    (404) 291-4167
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    13809 Bay Ave Panama City Beach, FL 32413
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    Panama City Beach, FL 32413
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    13809 Bay Ave Panama City Beach, FL 32413
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    We can help!
    Listing Contact
    Wendi Ligas
    Real Estate License ID: 361928
    (404) 291-4167 (678) 341-2900 (850) 249-0313
    Learn more
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