Beach-Area
For Sale
$1,150,000
4113 Holiday Drive, Panama City, FL 32408
CommercialSale, Panama City, FL
Property Size2,944 SF
Lot Size0.05 Acres
Price / SF$390.63
Days on Market116
Property Features for 4113 Holiday Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Resid Multi-Family, Resid Single Family
Exterior features
RainGutters
Subdivision
Holiday Beach Unit 9
Lot features
Level
Elementary school
Patronis
Middle school
Surfside
High school
Arnold
Directions
From the intersection of Thomas Dr and Front Beach Rd, head south on Thomas Dr. Turn left onto Holiday Dr. Continue on Holiday Dr; property will be on the left-hand side.
Standard status
Active
APN
30762-020-000
Size
2,944 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Description
HOLIDAY BEACH UNIT #9 BEG AT MOST WLY COR LOT 5 SELY 39.30' NELY 57.58' NWLY 37.36' TO SELY R/W HOLIDAY DR TH SWLY 57.84' TO POB TOGETHER WITH ESMT BLK F ORB 4548 P 1937
Legal Description
HOLIDAY BEACH UNIT #9 BEG AT MOST WLY COR LOT 5 SELY 39.30' NELY 57.58' NWLY 37.36' TO SELY R/W HOLIDAY DR TH SWLY 57.84' TO POB TOGETHER WITH ESMT BLK F ORB 4548 P 1937
Utilities
Heating system
Electric (Heating), Central
Cooling system
Ceiling Fan(s)
Building Details
Year built
1983
Floors in Building
2
Flooring type
Tile
Building materials
Stucco, VinylSiding
Roof type
Shingle
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(850) 234-6696
Listed By:
Frank Trenholm
(850) 774-8944
Added: May 3
Changed: Aug 19
Last Checked: Aug 26 at 4:06AM
MLS# 789589
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.
This 1983 fourplex contains four units within 2,944 square feet on a 0.05-acre lot. The property has stucco and vinyl siding, tile flooring, shingle roofing, rain gutters, electric central heating, and ceiling-fan cooling. Each unit is described as having a practical layout, supporting flexibility for short-term vacation rentals or long-term tenants.
The property is in the Lower Grand Lagoon area of Panama City, off Thomas Dr and within a short walk of the Gulf and public beach access. St. Andrews State Park, marinas, and restaurants are also nearby. The combination of four residential units and a beach-oriented setting provides a clearly defined multifamily configuration with rental-use flexibility.
The property is in the Lower Grand Lagoon area of Panama City, off Thomas Dr and within a short walk of the Gulf and public beach access. St. Andrews State Park, marinas, and restaurants are also nearby. The combination of four residential units and a beach-oriented setting provides a clearly defined multifamily configuration with rental-use flexibility.
Key Highlights
- Fourplex with four separate units
- 2,944 square feet on a 0.05‑acre lot
- Built in 1983 with stucco and vinyl siding
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,612
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$712,240
$712.2K
Cap Rate 7%
$508,743
$508.7K
Cap Rate 9%
$395,689
$395.7K
Market Conditions
NOI Build-Up for 2,944 SF
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.
Gross rent
$60.1K $20.40/SF
− Vacancy
−$9.2K −$3.12/SF
EGI
$50.9K $17.28/SF
− OpEx
−$15.3K −$5.18/SF
NOI
$35.6K $12.10/SF
Area
Walton County, FL
Vacancy
15.29%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$712,240
Cap Rate 7%
$508,743
Cap Rate 9%
$395,689
Alternative Uses
Best Use
Multifamily LT 5
$508.7K
$445.2K – $593.5K
NOI $35,612 @ 7.0% cap · market cap 3.10%
Second Best
Apartment 5plus
$465.8K
$407.6K – $543.4K
NOI $32,604 @ 7.0% cap · market cap 2.84%
Theoretical Best
Office A
$740.4K
$647.8K – $863.8K
NOI $51,826 @ 7.0% cap · market cap 4.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
408
Businesses Nearby
Explore this area
Business Placement
Demographics for 32408, FL
17,479
Population
17,018
Households
1
Avg Household Size
48
Median Age
39%
College-Educated
96%
High-School Grad
8.6 sq mi
ZIP Area
2,032
Density / Sq Mi
$72,322
Median Household Income
$42,749
Median Earnings
$1,453
Median Rent
$352,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four separate units near Gulf access, with layouts suited to either vacation rentals or longer-term occupancy.
Where is this quadplex located?
The property is located at 4113 Holiday Drive Panama City, FL.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Fourplex with four separate units; 2,944 square feet on a 0.05‑acre lot; Built in 1983 with stucco and vinyl siding
