New Construction Two-Bedroom
1116 Mercedes Avenue Panama City, FL 32401
1116 Mercedes Avenue, Panama City, FL, 32401
$570,000
For Sale
$570,000
New construction 2/2 townhomes with projected rents between $1,550 and $1,650 per unit.
Property Size2,799 SF
Price / SF$203.64
Days on Market338
Property Features for 1116 Mercedes Avenue
General Information
- Standard status
- Active
- Size
- 2,799 SF
- Property subtype
- Commercial Sale / Multi Family / Multi Family
Building Details
- Year Built
- 2025
Listing agency
Think Real Estate
(850) 394-7491
Listed by
Jamie A Kitzmiller · License #SL3465582
(850) 394-7491
Source
Compass
Added: Aug 19, 2025 Updated: Jul 21 at 5:07AM Checked: Jul 21 at 5:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Think Real Estate
Investment Insights
Based on property information with market context.
New construction townhomes featuring 2-bedroom, 2-bath layouts, with each unit at approximately 933 square feet. The offering is projected to generate rental income in the $1,550–$1,650 per unit range. Seller-provided projections also estimate a 7–8% cap rate, and a pro forma P&L is available upon request.
The property is located at 1116 Mercedes Avenue in Panama City, Florida 32401.
The property is located at 1116 Mercedes Avenue in Panama City, Florida 32401.
Key Highlights
- New construction 2/2 townhomes, 933 SF each
- Projected rent range of $1,550–$1,650 per unit
- Estimated 7–8 cap rate
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 | $67.2k | $24.00 |
| − Vacancy | −$10.8k | −$3.86 |
| EGI | $56.4k | $20.14 |
| − OpEx | −$25.4k | −$9.06 |
| NOI | $31.0k | $11.07 |
2,799 SF · lease $24.00/SF/yr · vacancy 16.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$442.8K
$387.5K – $516.6K
NOI $30,998 @ 7.0% cap · market cap 5.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$703.9K
$615.9K – $821.2K
NOI $49,274 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Residential income properties
Similar For Sale Nearby
FAQs
What type of property is this?
Residential income property - New construction 2/2 townhomes with projected rents between $1,550 and $1,650 per unit.
Where is this residential income property located?
The property is located at 1116 Mercedes Avenue Panama City, FL.
What is the asking price?
The asking price for this property is $570,000.
What are key features of this property?
This property features: New construction 2/2 townhomes, 933 SF each; Projected rent range of $1,550–$1,650 per unit; Estimated 7–8 cap rate
