Duplex with Beach
For Sale
$725,000
13801 Bay Ave, Panama City Beach, FL 32413
Two separate residences provide flexible living arrangements, private entrances, outdoor areas, and garage access near the Gulf.
Property Size2,320 SF
Price / SF$312.50
Days on Market53
Property Features for 13801 Bay Ave
General Information
Standard status
Active
Size
2,320 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
laundry
private entrances
fenced outdoor spaces
garage
sunroom/breezeway
covered front porch
gated deeded beach access
Building Details
Year Built
1983
Listing Agency:
EXP Realty LLC
Listed By:
Bubba McCants · License #3062634
(850) 624-8433
Source:
Susan.forsaleonthegulfcoast
Added: Sep 1
Changed: Oct 15
Last Checked: Oct 23 at 7:09AM
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 EXP Realty LLC
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Investment Insights
Based on property information with market context.
This duplex property includes two separate residences, each with 3 bedrooms and 2 bathrooms, for a combined configuration of six bedrooms and four bathrooms. Each residence has its own living area, kitchen, laundry, private entrance, fenced outdoor space, and garage access. The main home includes an updated interior and a sunroom or breezeway connecting to the garage and backyard, while the second residence features an open floor plan and covered front porch. The property was built in 1983.
Located at 13801 Bay Ave in Panama City Beach, the property is within Bid-A-Wee, where short-term rentals are permitted in this section. Gated, deeded beach access is available through the neighborhood, with the beach reachable by a short walk or golf-cart ride. Pier Park, shopping, restaurants, entertainment, nightlife, and everyday conveniences are minutes away.
Located at 13801 Bay Ave in Panama City Beach, the property is within Bid-A-Wee, where short-term rentals are permitted in this section. Gated, deeded beach access is available through the neighborhood, with the beach reachable by a short walk or golf-cart ride. Pier Park, shopping, restaurants, entertainment, nightlife, and everyday conveniences are minutes away.
Key Highlights
- Two separate 3‑bedroom, 2‑bath residences on one parcel
- Combined configuration of 6 bedrooms and 4 bathrooms
- Short‑term rentals permitted in this section of Bid‑A‑Wee
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,686
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$493,720
$493.7K
Cap Rate 7%
$352,657
$352.7K
Cap Rate 9%
$274,289
$274.3K
Market Conditions
NOI Build-Up for 2,320 SF
Gross rent
$37.6K $16.20/SF
− Vacancy
−$2.3K −$1.00/SF
EGI
$35.3K $15.20/SF
− OpEx
−$10.6K −$4.56/SF
NOI
$24.7K $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 Rate 5%
$493,720
Cap Rate 7%
$352,657
Cap Rate 9%
$274,289
Alternative Uses
Best Use
Multifamily LT 5
$352.7K
$308.6K – $411.4K
NOI $24,686 @ 7.0% cap · market cap 3.40%
Second Best
Apartment 5plus
$323.1K
$282.8K – $377.0K
NOI $22,620 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$676.0K
$591.5K – $788.6K
NOI $47,318 @ 7.0% cap · market cap 6.53%
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
390
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences provide flexible living arrangements, private entrances, outdoor areas, and garage access near the Gulf.
Where is this duplex located?
The property is located at 13801 Bay Ave Panama City Beach, FL.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Two separate 3‑bedroom, 2‑bath residences on one parcel; Combined configuration of 6 bedrooms and 4 bathrooms; Short‑term rentals permitted in this section of Bid‑A‑Wee
