1116 Mercedes Avenue Panama City, FL 32401
MULTI_FAMILY - Panama City, FL
Property Features for 1116 Mercedes Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Property condition
- Under Construction
- Standard status
- Active
- APN
- 16529-000-000
- Size
- 2,799 SF
- Lot size
- 0.27 Acres
Taxes and HOA fees
- Tax Description
- 4 4S 14W -69- 69A BEG 495' N OF SW COR OF SE1/4 OF NE1/4 TH E 120 N 99' W 120' S 99' TO POB ORB 738 P 769 ORB 2002 P 428 ORB 2002 P 426
Building Details
- Year built
- 2025
- Roof type
- Shingle
Listing agent Jamie A Kitzmiller License #SL3465582 (850) 394-7491
Listing office Think Real Estate 2810 Martin Luther King Jr. Bl Suite C, Panama City Beach, FL (850) 270-4200
Listing date Aug 19, 2025
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.
Key Highlights
- New construction built in 2025.
- Projected rental income of $1550-$1650 per unit.
- Estimated 7‑8% cap rate.
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 | $57.1k | $20.40 |
| − Vacancy | −$8.7k | −$3.12 |
| EGI | $48.4k | $17.28 |
| − OpEx | −$14.5k | −$5.18 |
| NOI | $33.9k | $12.10 |
