Quadplex Investment
For Sale
$745,000
133 Gwyn Drive, Panama City Beach, FL 32408
MULTI_FAMILY - Panama City Beach, FL
Property Size3,732 SF
Lot Size0.21 Acres
Price / SF$199.62
Days on Market48
Property Features for 133 Gwyn Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
Commercial, Resid Multi-Family
Bedrooms
8
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 3, Bedroom 6, Bathroom 7, Bedroom 5, Bathroom 1, Bedroom 3, Bedroom 8, Bathroom 2, Bedroom 1, Bedroom 7, Bathroom 4, Bedroom 4, Bathroom 6, Bathroom 5, Bedroom 2, Bathroom 8
Interior features
MainLevelPrimary, UpperLevelPrimary
Appliances
ElectricCooktop
Subdivision
No Named Subdivision
Elementary school
Patronis
Middle school
Surfside
High school
Arnold
Directions
get onto C R 392/ Navy Blvd / Thomas drive, Turn left onto Gwyn Dr, in 0.2 miles 133 Gwen drive is to your left.
Standard status
Active
APN
30165-260-010
Size
3,732 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
4 4S 15W -15.10A- 69B COM 1033.69' N OF NE COR OF GREENTREE UNIT ONE TH W 188.94 FOR POB TH CONT W 80' S 119.11 E 80' N 119.15' TO POB AKA LOT 3 SUBJ TO ESMT ORB 4462 P 989
Legal Description
4 4S 15W -15.10A- 69B COM 1033.69' N OF NE COR OF GREENTREE UNIT ONE TH W 188.94 FOR POB TH CONT W 80' S 119.11 E 80' N 119.15' TO POB AKA LOT 3 SUBJ TO ESMT ORB 4462 P 989
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1998
Floors in Building
2
Building materials
VinylSiding
Listing Agency:
Keller Williams Success Realty · Keller Williams Realty
(850) 249-0313
Listed By:
Tareva Ligas · License #SL3519034
(956) 274-1388
Added: Jul 7
Changed: Aug 3
Last Checked: Aug 23 at 6:06AM
MLS# 792289
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.
This quadplex investment property includes eight bedrooms and eight bathrooms, with main-level and upper-level primary bedrooms. The building features vinyl siding and is served by public sewer. Central heating and Central air provide comfort throughout, and electric cooking is included.
The property sits on a 0.21-acre lot and totals 3,732 square feet. It was built in 1998, with a roof replacement completed in 2019. The 4-point inspection reports are available for each unit, documenting HVAC and plumbing. Zoning is described as within an x flood zone and Commercial Mixed Use, making it applicable for short-term rental use.
Convenience is also a factor, with the property located about 7 minutes from Beach Access 2. It is surrounded by restaurants, shopping, and grocery stores, supporting demand from both long-term tenants and vacation guests.
The property sits on a 0.21-acre lot and totals 3,732 square feet. It was built in 1998, with a roof replacement completed in 2019. The 4-point inspection reports are available for each unit, documenting HVAC and plumbing. Zoning is described as within an x flood zone and Commercial Mixed Use, making it applicable for short-term rental use.
Convenience is also a factor, with the property located about 7 minutes from Beach Access 2. It is surrounded by restaurants, shopping, and grocery stores, supporting demand from both long-term tenants and vacation guests.
Key Highlights
- 0.21‑acre lot with a 3,732 SF quadplex built in 1998
- Roof replaced in 2019
- Zoned within an x flood zone and Commercial Mixed Use, applicable for short‑term rental use
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
$39,710
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
5.33%
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%
$794,200
$794.2K
Cap Rate 7%
$567,286
$567.3K
Cap Rate 9%
$441,222
$441.2K
Market Conditions
NOI Build-Up for 3,732 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
$60.5K $16.20/SF
− Vacancy
−$3.7K −$1.00/SF
EGI
$56.7K $15.20/SF
− OpEx
−$17.0K −$4.56/SF
NOI
$39.7K $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%
$794,200
Cap Rate 7%
$567,286
Cap Rate 9%
$441,222
Alternative Uses
Best Use
Multifamily LT 5
$567.3K
$496.4K – $661.8K
NOI $39,710 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$519.8K
$454.9K – $606.5K
NOI $36,388 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$1.09M
$951.5K – $1.27M
NOI $76,116 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
359
Businesses Nearby
Explore this area
Business Placement
Demographics for 32408, FL
17,479
Population
17,018
Households
1
Avg Household Size
48
Median Age
39%
College-Educated
96%
High-School Grad
8.6 sq mi
ZIP Area
2,032
Density / Sq Mi
$72,322
Median Household Income
$42,749
Median Earnings
$1,453
Median Rent
$352,400
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?
Quadplex - Quadplex on a 0.21-acre lot with Commercial Mixed Use zoning and Central HVAC, supported by 4-point inspections for each unit.
Where is this quadplex located?
The property is located at 133 Gwyn Drive Panama City Beach, FL.
What is the asking price?
The asking price for this property is $745,000.
What are key features of this property?
This property features: 0.21‑acre lot with a 3,732 SF quadplex built in 1998; Roof replaced in 2019; Zoned within an x flood zone and Commercial Mixed Use, applicable for short‑term rental use
