Four-Unit Apartment
1339 East Park Road Unit R14, Panama City, FL 32404
For Sale
$400,000
Four apartments offer two-bedroom, one-bath layouts in a single residential building.
Property Size3,000 SF
Price / SF$133.33
Days on Market160
Property Features for 1339 East Park Road Unit R14
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Asking Price
Taxes and HOA fees
Annual Taxes
Amenities
Two
Yes, Central Air, Ceiling Fans, Window Units
Yes, Central, Electric
2
Electric Range, Electric Water Heater
5
1
Shingle
Slab
Stucco, Wood Frame
Building Details
Year Built
Buildings
Listing Agency:
Anchor Realty Florida
Listed By:
Paul T LaCourse · License #3158587
(850) 293-5389
Source:
Compass
Added: Jun 1
Changed: Nov 1
Last Checked: Nov 6 at 10:58AM
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 Anchor Realty Florida
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,000-square-foot apartment building contains four units, each with approximately 750 square feet. The apartments are configured with two bedrooms and one bathroom. Built in 1985, the building is one of three apartment properties identified as available for sale.
Key Highlights
- Four apartments in one building
- Each apartment has approximately 750 square feet
- Two‑bedroom, one‑bath layout in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,921
Cap Rate
7.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$638,420
$638.4K
Cap Rate 7%
$456,014
$456.0K
Cap Rate 9%
$354,678
$354.7K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$48.6K $16.20/SF
− Vacancy
−$3.0K −$1.00/SF
EGI
$45.6K $15.20/SF
− OpEx
−$13.7K −$4.56/SF
NOI
$31.9K $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 Rate 5%
$638,420
Cap Rate 7%
$456,014
Cap Rate 9%
$354,678
Alternative Uses
Best Use
Multifamily LT 5
$456.0K
$399.0K – $532.0K
NOI $31,921 @ 7.0% cap · market cap 7.98%
Second Best
Apartment 5plus
$417.9K
$365.6K – $487.5K
NOI $29,251 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$874.1K
$764.8K – $1.02M
NOI $61,187 @ 7.0% cap · market cap 15.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
57
Businesses Nearby
Explore this area
Business Placement
Demographics for 32404, FL
38,186
Population
18,053
Households
2.1
Avg Household Size
40
Median Age
21%
College-Educated
87%
High-School Grad
135.1 sq mi
ZIP Area
283
Density / Sq Mi
$72,208
Median Household Income
$38,701
Median Earnings
$1,355
Median Rent
$239,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four apartments offer two-bedroom, one-bath layouts in a single residential building.
Where is this quadplex located?
The property is located at 1339 East Park Road Unit R14 Panama City, FL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Four apartments in one building; Each apartment has approximately 750 square feet; Two‑bedroom, one‑bath layout in each unit
