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    401 Massalina Dr Panama City, FL 32401

    New
    For Sale
    $1,850,000

    MULTI_FAMILY - Panama City, FL

    Lot size:
    0.25 Acres
    Days on Market:
    4
    Last Refresh:
    Dec 5 at 1:06 am

    Property Features for 401 Massalina Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Standard status
    Active
    Rooms
    Bedroom 8, Den, Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 5, Bedroom 9, Living Room, Bedroom 2, Bathroom 7, Bedroom 6, Bathroom 6, Family Room, Bedroom 3, Bedroom 1, Bathroom 4, Bedroom 7, Bathroom 3, Bathroom 5
    Bedrooms
    9
    Bathrooms
    7
    APN
    20456-010-000 & 20456-000-000
    Patio and Porch features
    Patio, Porch
    Exterior features
    Dock, OutdoorKitchen
    Appliances
    GasRange, TanklessWaterHeater
    Lot size
    0.25 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Ceiling Fan(s), Central Air
    Water front
    1

    Building Details

    Year built
    2025
    Floors in Building
    2
    Building materials
    HardiplankType

    Beach Haven Realty (770) 596-6599 [email protected]

    Listing agent Scott Suber (770) 596-6599 License #3380896

    Listing date Dec 2, 2025

    MLS# 781413 Listing URL

    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

    Waterfront Multi-Family Investment Opportunity

    This waterfront property on Massalina Bayou features three separate structures across two parcels. The property includes a new construction main residence (scheduled for completion in 2025) with 3 bedrooms and 2 bathrooms, featuring a private pool with water views and high-end coastal design. It is scheduled to be fully furnished within the next few weeks. A new construction carriage house (scheduled for completion in 2025) offers 2 bedrooms and 1 bathroom and is currently leased with a 6-month tenant. Additionally, there are four 1-bedroom, 1-bathroom waterfront apartments, two of which are currently rented. The property is positioned to generate short-term or long-term income. A newly constructed dock connects both parcels, creating an expansive waterfront estate. The property has manicured landscaping and direct views of Massalina Bayou. It is located near shopping, dining, entertainment, and local attractions. The property offers possibilities for multi-generational living, income-producing investment, or a primary residence with rental opportunities. The total number of bedrooms and bathrooms represented in the listing is a total of all 3 structures that are being offered for sale. The lot size is approximately 0.25 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Walton
    State
    Florida
    Longitude
    -85.655295
    Latitude
    30.155345

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    FAQs

    What type of property is this?
    Apartment building - Waterfront property with new construction and income potential in Panama City.
    Where is this apartment building located?
    The property is located at 401 Massalina Dr Panama City, FL.
    What is the asking price?
    The asking price for this property is $1,850,000.
    What are key features of this property?
    This property features: - Rare waterfront property with two parcels and three structures.; - **New construction (2025) main residence featuring 3 beds, 2 baths, and a private pool.**; - Significant income potential from the leased carriage house and four waterfront apartments.
    (770) 596-6599
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    401 Massalina Dr Panama City, FL 32401
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    Panama City, FL 32401
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    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

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    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
    401 Massalina Dr Panama City, FL 32401
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