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    New Construction Townhome Investment Opportunity Title is generated by Realmo AI

    6710-6718 Cherry Street, Panama City, FL 32404

    View on Map
    Claim this Listing
    Pending
    $1,099,500

    MULTI_FAMILY - Panama City, FL

    Property size:
    6,750 SF
    Added:
    Mar 8, 2026
    Days on Market:
    93
    Last Refresh:
    Jun 9 at 5:06 pm

    Property Features for 6710-6718 Cherry Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Standard status
    Pending
    APN
    06829-000-000
    Size
    6,750 SF

    Taxes and HOA fees

    Tax Description
    CHERRY GROVE TOWNHOMES

    Utilities

    Sewer type
    Public Sewer

    Building Details

    Year built
    2025

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    Listing Contact
    Heather H Neubauer

    Listing agent Heather H Neubauer License #3257545

    Listing office ERA Neubauer Real Estate Inc 740 S Tyndall Pkwy, Panama City, FL

    Listing date Mar 8, 2026

    MLS# 786496

    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.

    HighLights

    • New construction 5‑unit townhome: a unique investment opportunity.
    • Proximity to Tyndall Air Force Base: benefits from strong rental demand.
    • Each unit: features 3 bedrooms, 2.5 bathrooms, ~1,300 sq ft, and a 1‑car garage.
    • Modern finishes: quartz countertops, stainless steel appliances, and custom tile work.
    • Low‑maintenance ownership: exterior maintenance and common area upkeep included.
    • Convenient location: close to shopping, parks, and major roadways.

    Overview

    This newly constructed five-unit townhome building in Panama City presents an investment opportunity with strong rental potential. Each townhome includes 3 bedrooms, 2.5 bathrooms, approximately 1,300 square feet of heated and cooled living space, and an attached one-car garage. The two-story units feature tall ceilings and a wide hallway. The main level offers an open-concept living, dining, and kitchen area with quartz countertops, stainless steel appliances, breakfast bar seating, and contemporary finishes. A half bathroom is located on the first floor, and rear access leads to a covered patio space. Upstairs, the primary bedroom suite includes a walk-in closet with built-in shelving and a private ensuite bathroom with custom tile work and an oversized shower. Two additional bedrooms, a full bathroom, and washer and dryer connections are also located on the second level. Community amenities include exterior maintenance and common area upkeep. The property is located approximately 6.6 miles from Tyndall Air Force Base, 1.6 miles from Winn-Dixie, and 2.9 miles from Under the Oaks Park, with access to shopping, parks, and major roadways. The property size is 6,750 square feet.

    Local Financial Insights For Apartment 5plus

    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 $162.0k $24.00
    − Vacancy −$26.1k −$3.86
    EGI $135.9k $20.14
    − OpEx −$61.2k −$9.06
    NOI $74.8k $11.07
    6,750 SF · lease $24.00/SF/yr · vacancy 16.10% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $1.07M
    $934.4K – $1.25M (±1% cap)
    NOI $74,755 @ 7.0% cap · market cap 6.80%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $1.70M
    $1.49M – $1.98M (±1% cap)
    NOI $118,827 @ 7.0% cap · market cap 10.81%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Walton
    State
    Florida
    Longitude
    -85.574969
    Latitude
    30.145119

    FAQs

    What type of property is this?
    Apartment building - Five-unit townhome building near Tyndall Air Force Base.
    Where is this apartment building located?
    The property is located at 6710-6718 Cherry Street Panama City, FL.
    What is the asking price?
    The asking price for this property is $1,099,500.
    What are key features of this property?
    This property features: New construction 5‑unit townhome: a unique investment opportunity.; Proximity to Tyndall Air Force Base: benefits from strong rental demand.; Each unit: features 3 bedrooms, 2.5 bathrooms, ~1,300 sq ft, and a 1‑car garage.
    More about this property
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