Coastal Condo at Horizon
For Sale
$260,000
17462 Front Beach Road #35D Panama City, Panama City Beach, FL 32413
Charming 2BR condo with resort amenities and rental potential.
Property Size960 SF
Price / SF$270.83
Days on Market521
Property Features for 17462 Front Beach Road #35D Panama City
General Information
Standard status
Active
Size
960 SF
Property subtype
Condominium
Amenities
Security System
Central Air
Central
Electric
Washer/Dryer Stacked
Electric Water Heater
Cable Connected, Electricity Available, High Speed Internet Available, Shingle
Building Details
Building Size
960 SF
Year Built
1987
Stories
2
Listing Agency:
COLDWELL BANKER REALTY
(313) 658-6400
Listed By:
COLDWELL BANKER REALTY · License #6501338353
(908) 233-5555
Source:
Kw
Added: Mar 19, 2025
Changed: Aug 8
Last Checked: May 19 at 9:39PM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
Located on the west end of Panama City Beach, FL, Unit #35D at Horizon South Resort features 2 bedrooms and 2 bathrooms. The residence includes an open-concept living and dining area, along with a kitchen. The main-floor bedroom offers closet space, while the second-floor bedroom overlooks the open space below. This unit is suitable for full-time living, vacation use, or short-term rental investment. Residents of Horizon South Resort have access to multiple swimming pools, tennis and pickleball courts, a fitness center, and direct beach access. Additional amenities include mini-golf and shuffleboard, with community social events and activities. The property is 960 square feet. Dining, shopping, and entertainment options of 30A are located nearby. The property is intended for short term rental, multifamily, and residential income purposes.
Key Highlights
- Direct beach access and multiple resort‑style amenities including swimming pools, tennis/pickleball courts, fitness center, mini‑golf, and shuffleboard.
- Located in Horizon South Resort on the desirable west end of Panama City Beach.
- Suitable for full‑time living, vacation home, or short‑term rental investment.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$9,360
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$187,200
$187.2K
Cap Rate 7%
$133,714
$133.7K
Cap Rate 9%
$104,000
$104.0K
Market Conditions
NOI Build-Up for 960 SF
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.
Gross rent
$18.2K $18.96/SF
− Vacancy
−$1.2K −$1.23/SF
EGI
$17.0K $17.73/SF
− OpEx
−$7.7K −$7.98/SF
NOI
$9.4K $9.75/SF
Area
Bay County, FL
Vacancy
6.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$187,200
Cap Rate 7%
$133,714
Cap Rate 9%
$104,000
Alternative Uses
Best Use
Apartment 5plus
$133.7K
$117.0K – $156.0K
NOI $9,360 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$279.7K
$244.8K – $326.3K
NOI $19,580 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Explore this area
Business Placement
Demographics for 32413, FL
15,217
Population
16,334
Households
0.9
Avg Household Size
50
Median Age
34%
College-Educated
94%
High-School Grad
108.2 sq mi
ZIP Area
141
Density / Sq Mi
$76,010
Median Household Income
$41,282
Median Earnings
$1,629
Median Rent
$384,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Charming 2BR condo with resort amenities and rental potential.
Where is this short term rental property located?
The property is located at 17462 Front Beach Road #35D Panama City Panama City Beach, FL.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Direct beach access and multiple resort‑style amenities including swimming pools, tennis/pickleball courts, fitness center, mini‑golf, and shuffleboard.; Located in Horizon South Resort on the desirable west end of Panama City Beach.; Suitable for full‑time living, vacation home, or short‑term rental investment.
