New-Construction
For Sale
$240,000
1347 Mercedes Avenue A-B, Panama City, FL 32401
Two separate one-bedroom residences feature quartz counters and durable vinyl plank floors.
Property Size796 SF
Price / SF$301.51
Days on Market64
Property Features for 1347 Mercedes Avenue A-B
General Information
Standard status
Active
Size
796 SF
Property subtype
Duplex
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$128
Building Details
Building Size
796 SF
Year Built
2026
Buildings
1
Listing Agency:
JC Real Estate Group, LLC.
Listed By:
James Cameron
(770) 560-6344
Source:
Coastalheritagerealty
Added: Aug 25
Changed: Oct 26
Last Checked: Oct 26 at 12:20PM
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 JC Real Estate Group, LLC.
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Investment Insights
Based on property information with market context.
Completed in 2026, this 796-square-foot duplex contains two distinct one-bedroom, one-bath units. The exterior uses Hardie siding, while the interiors include quartz countertops and luxury vinyl plank flooring. The property also has room for an accessory dwelling unit, with a permitted plan available; construction of that additional unit is an option offered by the listing agent.
The Panama City property sits one block off MLK Blvd and near 15th Street. The MLK Recreation Center and a bus stop are nearby, along with shopping, employment, transportation, and everyday services.
The Panama City property sits one block off MLK Blvd and near 15th Street. The MLK Recreation Center and a bus stop are nearby, along with shopping, employment, transportation, and everyday services.
Key Highlights
- Two one‑bedroom, one‑bath units in a 796‑square‑foot duplex
- Built in 2026 with Hardie siding
- Quartz countertops and luxury vinyl plank flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,470
Cap Rate
3.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$169,400
$169.4K
Cap Rate 7%
$121,000
$121.0K
Cap Rate 9%
$94,111
$94.1K
Market Conditions
NOI Build-Up for 796 SF
Gross rent
$12.9K $16.20/SF
− Vacancy
−$796 −$1.00/SF
EGI
$12.1K $15.20/SF
− OpEx
−$3.6K −$4.56/SF
NOI
$8.5K $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%
$169,400
Cap Rate 7%
$121,000
Cap Rate 9%
$94,111
Alternative Uses
Best Use
Multifamily LT 5
$121.0K
$105.9K – $141.2K
NOI $8,470 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$110.9K
$97.0K – $129.4K
NOI $7,761 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$231.9K
$202.9K – $270.6K
NOI $16,235 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
371
Businesses Nearby
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Business Placement
Demographics for 32401, FL
20,487
Population
10,239
Households
2
Avg Household Size
42
Median Age
20%
College-Educated
86%
High-School Grad
12.5 sq mi
ZIP Area
1,639
Density / Sq Mi
$49,901
Median Household Income
$35,885
Median Earnings
$1,194
Median Rent
$207,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate one-bedroom residences feature quartz counters and durable vinyl plank floors.
Where is this duplex located?
The property is located at 1347 Mercedes Avenue A-B Panama City, FL.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Two one‑bedroom, one‑bath units in a 796‑square‑foot duplex; Built in 2026 with Hardie siding; Quartz countertops and luxury vinyl plank flooring
