Two-Unit Duplex
For Sale
$350,000
147/ 149 Claire Ave, Panama City, FL 32401
Newer income property with two occupied three-bedroom units and established leases.
Property Size2,400 SF
Price / SF$145.83
Days on Market77
Property Features for 147/ 149 Claire Ave
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi-Family
Occupancy
100%
Financials
Gross Income
$39,600
Average Monthly Rent
$1,650
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
2023
Listing Agency:
ERA Neubauer Real Estate Inc
Listed By:
Heather H Neubauer · License #3257545
(850) 774-2832
Source:
Emeraldcoasthomesource
Added: Jul 26
Changed: Oct 1
Last Checked: Oct 9 at 7:42PM
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 ERA Neubauer Real Estate Inc
Investment Insights
Based on property information with market context.
Completed in 2023, this 2,400-square-foot duplex contains two separate three-bedroom, two-bathroom residences. Both units are occupied and leased, providing an existing operating setup for the next owner.
The property is located at 147 / 149 Claire Ave in Panama City, Florida, near Tyndall Air Force Base and Business 98. Its unit configuration and recent construction provide a straightforward multifamily asset with two residential units under one property.
The property is located at 147 / 149 Claire Ave in Panama City, Florida, near Tyndall Air Force Base and Business 98. Its unit configuration and recent construction provide a straightforward multifamily asset with two residential units under one property.
Key Highlights
- Built in 2023
- 2,400 SF duplex with two residential units
- Each unit includes 3 bedrooms and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,537
Cap Rate
7.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$510,740
$510.7K
Cap Rate 7%
$364,814
$364.8K
Cap Rate 9%
$283,744
$283.7K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$38.9K $16.20/SF
− Vacancy
−$2.4K −$1.00/SF
EGI
$36.5K $15.20/SF
− OpEx
−$10.9K −$4.56/SF
NOI
$25.5K $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%
$510,740
Cap Rate 7%
$364,814
Cap Rate 9%
$283,744
Alternative Uses
Best Use
Multifamily LT 5
$364.8K
$319.2K – $425.6K
NOI $25,537 @ 7.0% cap · market cap 7.30%
Second Best
Apartment 5plus
$334.3K
$292.5K – $390.0K
NOI $23,400 @ 7.0% cap · market cap 6.69%
Theoretical Best
Office A
$699.3K
$611.9K – $815.8K
NOI $48,949 @ 7.0% cap · market cap 13.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
Explore this area
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
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 - Newer income property with two occupied three-bedroom units and established leases.
Where is this duplex located?
The property is located at 147/ 149 Claire Ave Panama City, FL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Built in 2023; 2,400 SF duplex with two residential units; Each unit includes 3 bedrooms and 2 bathrooms
