Laguna Beach Duplex Investment
For Sale
$899,000
109 Granger Ln, Panama City Beach, FL 32413
Duplex in Laguna Beach with waterfront views. Rental projections: $130,000.
Property Size2,738 SF
Lot Size0.23 Acres
Days on Market263
Property Features for 109 Granger Ln
General Information
Standard status
Active
Size
2,738 SF
Lot size
0.23 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$7,260
Building Details
Building Size
2,738 SF
Year Built
1983
Stories
2
Listing Agency:
(256) 504-3799
Listed By:
Brian Clowdus
(256) 504-3799
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Jul 16 at 6:15AM
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 Brian Clowdus
Investment Insights
Based on property information with market context.
This duplex is located in Laguna Beach and offers waterfront lake views. The property is suitable for investors and is located steps from the Gulf. The land itself is valued at almost $700,000. The duplex is professionally furnished and decorated, making it turnkey ready for the rental market. Each unit features 2 bedrooms upstairs and is set up to accommodate sleeping on the main level, with each side sleeping up to 10 people. This property is suitable as a short-term or long-term rental. Alternatively, one unit could be owner-occupied while the other is rented out. The property sits on a quarter of an acre, providing ample parking and room for a pool.
Key Highlights
- Duplex in highly desirable Laguna Beach location
- Waterfront lake views and steps from the Gulf
- High rental income potential: $130,000 projected**
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
$29,133
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
3.24%
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%
$582,660
$582.7K
Cap Rate 7%
$416,186
$416.2K
Cap Rate 9%
$323,700
$323.7K
Market Conditions
NOI Build-Up for 2,738 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
$44.4K $16.20/SF
− Vacancy
−$2.7K −$1.00/SF
EGI
$41.6K $15.20/SF
− OpEx
−$12.5K −$4.56/SF
NOI
$29.1K $10.64/SF
Area
Bay County, FL
Vacancy
6.17%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$582,660
Cap Rate 7%
$416,186
Cap Rate 9%
$323,700
Alternative Uses
Best Use
Multifamily LT 5
$416.2K
$364.2K – $485.6K
NOI $29,133 @ 7.0% cap · market cap 3.24%
Second Best
Apartment 5plus
$381.4K
$333.7K – $444.9K
NOI $26,696 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$797.8K
$698.0K – $930.7K
NOI $55,843 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
152
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?
Duplex - Duplex in Laguna Beach with waterfront views. Rental projections: $130,000.
Where is this duplex located?
The property is located at 109 Granger Ln Panama City Beach, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Duplex in highly desirable Laguna Beach location; Waterfront lake views and steps from the Gulf; High rental income potential: $130,000 projected**
