7931 S Lagoon Drive, Panama City, FL 32408
MULTI_FAMILY - Other - Panama City, FL
- Added:
- Jun 10, 2026
- Days on Market:
- 3
- Last Refresh:
- Jun 12 at 5:06 pm
Property Features for 7931 S Lagoon Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bathroom 2, Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 4
- Parking features
- Paved or Surfaced, Parking Lot
- Interior features
- MainLevelPrimary, TubShower
- Appliances
- ElectricCooktop, ElectricOven, ElectricWaterHeater
- Standard status
- Active
- APN
- 30196-540-000
- Size
- 1,860 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- SILVER SANDS UNIT 2 LOT 14 BLK F ORB 1943 P 1887 ORB 2500 P 538
- Tax Annual Amount
- 2670
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating)
- Cooling system
- Multi Units, Central Air
Building Details
- Year built
- 1975
- Floors in Building
- 1
- Number of units
- 2
- Building materials
- Block
- Architectural style
- Other
Listing agent Barbara A Wade License #BK3425752 (505) 903-9061
Listing office Beachy Beach Real Estate 17651 Panama City Beach Pkwy Suite 3, Panama City Beach, FL (850) 233-4351
Listing date Jun 10, 2026
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
- Duplex with 2 units and a combined 4 bedrooms and 3 bathrooms (2/2 and 2/1)
- Approximately 1,868 SF total; constructed with block materials and built in 1975
- Central air cooling and electric heating; electric cooktop, electric oven, and electric water heater
- Roof replaced approximately 5 years ago
- Public sewer connected; parking includes a paved/surfaced parking lot
- Located between the Gulf of Mexico and Grand Lagoon, near beaches, marinas, and Rick Selzer Park
Overview
Located at 7931 S Lagoon Drive in Panama City, Florida 32408, the property sits in the South Lagoon area between the Gulf of Mexico and Grand Lagoon. The seller notes proximity to beaches, marinas, Rick Selzer Park, a boat ramp, and nearby restaurants and entertainment.
The duplex is being offered for sale as an investor-focused project, with the stated intent that a buyer can renovate and reposition the property to fit their goals. The listing references an appraisal completed in May 2026 that considered the current condition and an estimate for needed repairs, and appraisal and repair-related information is available upon request. For builders, investors, and buyers seeking a two-unit residential asset with an up-front roof replacement, this property may offer a practical starting point for a renovation plan tailored to either long-term or seasonal occupancy.
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 | $37.9k | $20.40 |
| − Vacancy | −$5.8k | −$3.12 |
| EGI | $32.1k | $17.28 |
| − OpEx | −$9.6k | −$5.18 |
| NOI | $22.5k | $12.10 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Panama City
- County
- Walton
- State
- Florida
- Longitude
- -85.77899
- Latitude
- 30.163313
