Panama City Townhome Investment
For Sale
$995,917
Pending
1512 Kraft Avenue, Panama City, FL 32405
Eight townhomes, fully occupied, low maintenance, excellent investment property.
Property Size8,208 SF
Lot Size0.48 Acres
Days on Market426
Property Features for 1512 Kraft Avenue
General Information
Standard status
Pending
Size
8,208 SF
Lot size
0.48 Acres
Property subtype
Commercial
Building Details
Year Built
1985
Listing Agency:
CENTURY 21 COMMANDER REALTY
(850) 769-8326
Listed By:
CAIN MCNEIL · License #SL3358940
(850) 814-0530
Source:
Corcoran
Added: Aug 28, 2025
Changed: Oct 25
Last Checked: Oct 26 at 4:38PM
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 CENTURY 21 COMMANDER REALTY
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Investment Insights
Based on property information with market context.
This property features eight townhomes located at 1512 Kraft Avenue and 1513 Bob Loftin in Panama City, Florida. The units are 100% occupied and require very little upkeep. Each unit includes 2 bedrooms and 1.5 bathrooms, with an approximate area of 973 square feet. The total property size is 8208 square feet. Each unit is separately metered for water and electric. Landlord responsibilities are limited to lawn care and maintenance. The property is located in Flood Zone X. Newer metal roofs and limited turnover make this an excellent addition to your portfolio.
Key Highlights
- 100% Occupied: Start generating income immediately with all units currently rented.
- Low Maintenance: Enjoy minimal landlord responsibilities limited to lawn care and general upkeep.
- Separately Metered Utilities: Simplify billing and expense tracking with individually metered units for water and electric.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,029
Cap Rate
8.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,600,580
$1.6M
Cap Rate 7%
$1,143,271
$1.1M
Cap Rate 9%
$889,211
$889.2K
Market Conditions
NOI Build-Up for 8,208 SF
Gross rent
$155.6K $18.96/SF
− Vacancy
−$10.1K −$1.23/SF
EGI
$145.5K $17.73/SF
− OpEx
−$65.5K −$7.98/SF
NOI
$80.0K $9.75/SF
Area
Bay County, FL
Vacancy
6.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,600,580
Cap Rate 7%
$1,143,271
Cap Rate 9%
$889,211
Alternative Uses
Best Use
Apartment 5plus
$1.14M
$1.00M – $1.33M
NOI $80,029 @ 7.0% cap · market cap 8.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.39M
$2.09M – $2.79M
NOI $167,407 @ 7.0% cap · market cap 16.81%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
248
Businesses Nearby
Explore this area
Business Placement
Demographics for 32405, FL
28,158
Population
13,585
Households
2.1
Avg Household Size
40
Median Age
29%
College-Educated
92%
High-School Grad
18.8 sq mi
ZIP Area
1,498
Density / Sq Mi
$71,002
Median Household Income
$41,867
Median Earnings
$1,418
Median Rent
$255,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Eight townhomes, fully occupied, low maintenance, excellent investment property.
Where is this apartment building located?
The property is located at 1512 Kraft Avenue Panama City, FL.
What is the asking price?
The asking price for this property is $995,917.
What are key features of this property?
This property features: 100% Occupied: Start generating income immediately with all units currently rented.; Low Maintenance: Enjoy minimal landlord responsibilities limited to lawn care and general upkeep.; Separately Metered Utilities: Simplify billing and expense tracking with individually metered units for water and electric.
