Furnished Short-Term Rental
New
For Sale
$979,000
2311/2313 Anne Avenue, Panama City Beach, FL 32408
MULTI_FAMILY - Other - Panama City Beach, FL
Property Size3,452 SF
Price / SF$283.60
Days on Market1
Property Features for 2311/2313 Anne Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
5
Full bathrooms
4
Half bathrooms
2
Rooms
Bathroom 6, Bedroom 6, Bathroom 3, Bedroom 5, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 5, Bathroom 4, Bathroom 1, Bedroom 4
Parking
14
Parking features
Garage
Subdivision
PINES 4TH ADDN
Elementary school
Breakfast Point
Middle school
Breakfast Point
High school
Arnold
Directions
From Hathaway Bridge - head west on US-98 - Stay left towards Front Beach Road - Turn Left onto Laurie Ave - Turn Right onto Laird St - Turn left onto Anne Ave.
Standard status
Active
APN
27791-020-000
Size
3,452 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
PINES 4TH ADD PT OF LOT 5 BLK C DESC AS: BEG NE COR LOT 5 TH S 75' W 130.167' N 75.28' E 129.94' TO POB SUBJ TO ESMT ORB 4334 P 2150 PINES 4TH ADD PT OF LOT 5 BLK C DESC AS: COM NE COR TH W 129.94' FOR POB TH S 75.28' W 59.976' N 75' E 60.097' TO POB TOGETHER W 20' ING/EGR ESMT ORB 4334 P 2150
Tax Annual Amount
7234
Legal Description
PINES 4TH ADD PT OF LOT 5 BLK C DESC AS: BEG NE COR LOT 5 TH S 75' W 130.167' N 75.28' E 129.94' TO POB SUBJ TO ESMT ORB 4334 P 2150 PINES 4TH ADD PT OF LOT 5 BLK C DESC AS: COM NE COR TH W 129.94' FOR POB TH S 75.28' W 59.976' N 75' E 60.097' TO POB TOGETHER W 20' ING/EGR ESMT ORB 4334 P 2150
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Amenities
fenced backyard
covered porches
Building Details
Year built
2021
Architectural style
Other
Listing Agency:
Corcoran Reverie SRB
(850) 231-5030
Listed By:
Kavin Kuykendall · License #3493828
(509) 301-7838
Added: Aug 18
Last Checked: Aug 18 at 6:06PM
MLS# 1010084
Copyright © 2026 Emerald Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2021, this 3452-square-foot duplex is configured for short-term rental use and includes six bedrooms and six bathrooms. Each unit has its own private garage, covered porch, and privately fenced backyard. Central heating and central air serve the property, with public sewer in place.
An in-ground sprinkler system is installed, and the oversized lot offers room for a pool or expansion. The property is located at 2311/2313 Anne Avenue in Panama City Beach, Florida, within Bay County.
An in-ground sprinkler system is installed, and the oversized lot offers room for a pool or expansion. The property is located at 2311/2313 Anne Avenue in Panama City Beach, Florida, within Bay County.
Key Highlights
- 3452 square feet with six bedrooms and six bathrooms
- Built in 2021
- Private garage, covered porch, and fenced backyard for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$36,730
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.75%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$734,600
$734.6K
Cap Rate 7%
$524,714
$524.7K
Cap Rate 9%
$408,111
$408.1K
Market Conditions
NOI Build-Up for 3,452 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$55.9K $16.20/SF
− Vacancy
−$3.5K −$1.00/SF
EGI
$52.5K $15.20/SF
− OpEx
−$15.7K −$4.56/SF
NOI
$36.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$734,600
Cap Rate 7%
$524,714
Cap Rate 9%
$408,111
Alternative Uses
Best Use
Multifamily LT 5
$524.7K
$459.1K – $612.2K
NOI $36,730 @ 7.0% cap · market cap 3.75%
Second Best
Apartment 5plus
$480.8K
$420.7K – $561.0K
NOI $33,658 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$1.01M
$880.1K – $1.17M
NOI $70,406 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
526
Businesses Nearby
Explore this area
Business Placement
Demographics for 32408, FL
17,479
Population
17,018
Households
1
Avg Household Size
48
Median Age
39%
College-Educated
96%
High-School Grad
8.6 sq mi
ZIP Area
2,032
Density / Sq Mi
$72,322
Median Household Income
$42,749
Median Earnings
$1,453
Median Rent
$352,400
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 - Two furnished units feature private outdoor space, covered porches, and individual garages.
Where is this duplex located?
The property is located at 2311/2313 Anne Avenue Panama City Beach, FL.
What is the asking price?
The asking price for this property is $979,000.
What are key features of this property?
This property features: 3452 square feet with six bedrooms and six bathrooms; Built in 2021; Private garage, covered porch, and fenced backyard for each unit
