Three-Unit Triplex with
726 Detroit Avenue Panama City, FL 32401
726 Detroit Avenue, Panama City, FL, 32401
$599,000
For Sale
$599,000
MULTI_FAMILY - Panama City, FL
Property Size3,891 SF
Price / SF$153.95
Days on Market105
Property Features for 726 Detroit Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Triplex
- Bedrooms
- 9
- Bathrooms
- 6
- Rooms
- Bedroom 7, Bathroom 4, Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 2, Bedroom 8, Bedroom 3, Bedroom 9, Bathroom 1, Bathroom 6, Bathroom 5, Bathroom 2, Bathroom 3
- Interior features
- MainLevelPrimary
- Standard status
- Active
- APN
- 15384-030-001
- Size
- 3,891 SF
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- 2 4S 14W -186.3- 118B4 COM AT NW COR OF NE1/4 OF SE1/4 OF SE1/4 TH S 528.24' E 25' TO E R/W OF DETROIT AV TH N 39.13' TO EXT OF COMMON WALL FOR POB TH CONT N 21.42' TO EXT OF COMMON WALL TH E 100' S 21.42' TO EXT OF COMMON WALL TH W 100' TO POB ORB 4 447 P 644
- Tax Annual Amount
- 2653
Utilities
- Sewer type
- Public Sewer
Building Details
- Year built
- 2023
Listing agency
Realty One Group Emerald Coast
(850) 238-8338
Listed by
Shaunnah Whitely · License #3308847
(850) 381-1663
Added: Apr 10 Updated: Jul 17 at 4:13PM Checked: Jul 23 at 6:06AM
MLS# 790460
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 for-sale triplex consists of three separate units, each laid out with 3 bedrooms and 2 full bathrooms. The residences feature galley-style kitchens and open living areas designed around functional floor plans. Each unit also includes its own private driveway and individual backyard space, creating separation and outdoor use for tenants.
The property is located at 726 Detroit Avenue in Panama City, Florida 32401. As presented in the public remarks, the triplex is fully occupied, providing an in-place tenant situation.
For buyers seeking residential income exposure, the unit mix is straightforward: three similar 3-bedroom, 2-bath layouts within one property, each with private driveway access and an associated outdoor area. The open living concept and private backyard space may appeal to tenants looking for practical daily living and usable outdoor space without sharing yard areas.
The property is located at 726 Detroit Avenue in Panama City, Florida 32401. As presented in the public remarks, the triplex is fully occupied, providing an in-place tenant situation.
For buyers seeking residential income exposure, the unit mix is straightforward: three similar 3-bedroom, 2-bath layouts within one property, each with private driveway access and an associated outdoor area. The open living concept and private backyard space may appeal to tenants looking for practical daily living and usable outdoor space without sharing yard areas.
Key Highlights
- Fully occupied triplex generating rental income, with all three units currently occupied
- Each unit offers approximately 1,300 SF with 3 bedrooms and 2 full bathrooms
- Units feature private driveways and individual backyard spaces
Local Financial Insights For Multifamily LT 5
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 | $79.4k | $20.40 |
| − Vacancy | −$12.1k | −$3.12 |
| EGI | $67.2k | $17.28 |
| − OpEx | −$20.2k | −$5.18 |
| NOI | $47.1k | $12.10 |
3,891 SF · lease $20.40/SF/yr · vacancy 15.29% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$672.4K
$588.4K – $784.5K
NOI $47,068 @ 7.0% cap · market cap 7.86%
Second Best
Apartment 5plus
$615.6K
$538.7K – $718.2K
NOI $43,092 @ 7.0% cap · market cap 7.19%
Theoretical Best
Office A
$978.5K
$856.2K – $1.14M
NOI $68,497 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Fully occupied triplex offers three spacious 3-bedroom, 2-bath homes with private driveways and individual yard space.
Where is this triplex located?
The property is located at 726 Detroit Avenue Panama City, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Fully occupied triplex generating rental income, with all three units currently occupied; Each unit offers approximately 1,300 SF with 3 bedrooms and 2 full bathrooms; Units feature private driveways and individual backyard spaces
