Stabilized Income Property For Sale

2605 Redwood Street, Panama City Beach, FL 32408

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For Sale

$850,000

Turnkey, fully leased duplex with immediate and reliable cash flow.

Type:Commercial

Property size:

4,432 SF

Lot size:

0.19 Acres

Price / SF:

$191/SF

HighLights

Strong, stabilized income property with an estimated $70,000 Net Operating Income and a 7% cap rate.
Turnkey asset that is fully leased, providing immediate and reliable cash flow.
Recently renovated apartments with new flooring, new kitchens, and energy‑saving appliances.
Significant capital improvements including a new septic tank and roof replaced in 2019.
Desirable unit mix of spacious 3‑bedroom and 2‑bedroom apartments, each with 1‑1/2 bathrooms.
Low‑maintenance property due to recent upgrades and minimal deferred maintenance.

We can help!

Listing Contact

OSCAR D FORERO

For Sale

$850,000

Turnkey, fully leased duplex with immediate and reliable cash flow.

Type:Commercial

Property size:

4,432 SF

Lot size:

0.19 Acres

Price / SF:

$191/SF

Added:: Feb 11, 2026
Days on Market:: 119
Last Refresh:: May 11 at 1:18 am

Property Features for 2605 Redwood Street

General Information

Standard status: Active
Size: 4,432 SF
Lot size: 0.19 Acres
Property subtype: Commercial

Building Details

Year Built: 1978

We can help!

Listing Contact

OSCAR D FORERO

Listing agent OSCAR D FORERO License #SL3636248

Listing office COLDWELL BANKER REALTY

Listing date Feb 11, 2026

Source Corcoran

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 COLDWELL BANKER REALTY

HighLights

Strong, stabilized income property with an estimated $70,000 Net Operating Income and a 7% cap rate.
Turnkey asset that is fully leased, providing immediate and reliable cash flow.
Recently renovated apartments with new flooring, new kitchens, and energy‑saving appliances.
Significant capital improvements including a new septic tank and roof replaced in 2019.
Desirable unit mix of spacious 3‑bedroom and 2‑bedroom apartments, each with 1‑1/2 bathrooms.
Low‑maintenance property due to recent upgrades and minimal deferred maintenance.

Overview

The property at 2605 Redwood Street is a well-maintained duplex consisting of two separate buildings, each featuring two apartments, for a total of four units. This turnkey asset is fully leased and positioned to deliver immediate and reliable cash flow. The property offers a unit mix of spacious 3-bedroom and 2-bedroom apartments, each with 1-1/2 bathrooms. All apartments have been renovated, with new flooring throughout, new kitchens, and energy-saving appliances, appealing to long-term tenants and supporting consistent occupancy. Recent capital improvements significantly enhance the property's value and reduce near-term maintenance, including brand-new flooring throughout. The A/C unit is less than 4 years old, the roof was replaced in 2019, part of the siding on each building has been replaced, and a newly installed septic tank. With all apartments currently rented, the property generates an estimated Net Operating Income of $70,000 annually, offering investors an attractive 7% cap rate. The combination of strong in-place income, recent upgrades, and minimal deferred maintenance makes this an ideal acquisition for investors seeking stable returns with limited operational risk. The property size is 4432 square feet.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$71.8k	$16.20
− Vacancy	−$4.4k	−$1.00
EGI	$67.4k	$15.20
− OpEx	−$20.2k	−$4.56
NOI	$47.2k	$10.64

4,432 SF · lease $16.20/SF/yr · vacancy 6.17% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$673.7K

$589.5K – $786.0K (±1% cap)

NOI $47,158 @ 7.0% cap · market cap 5.55%

Second Best

Apartment 5plus

$617.3K

$540.2K – $720.2K (±1% cap)

NOI $43,213 @ 7.0% cap · market cap 5.08%

Theoretical Best

Office A

$1.29M

$1.13M – $1.51M (±1% cap)

NOI $90,393 @ 7.0% cap · market cap 10.63%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Quadplexes

Suggested Use

Location Insight

Map
Local Demand

City: Panama City Beach
County: Bay
State: Florida
Longitude: -85.754
Latitude: 30.1571

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For sale
Quadplexes
FL
Panama City Beach
32408
2605 Redwood Street

What type of property is this?

Quadplex - Turnkey, fully leased duplex with immediate and reliable cash flow.

Where is this quadplex located?

The property is located at 2605 Redwood Street Panama City Beach, FL.

What is the asking price?

The asking price for this property is $850,000.

What are key features of this property?

This property features: Strong, stabilized income property with an estimated $70,000 Net Operating Income and a 7% cap rate.; Turnkey asset that is fully leased, providing immediate and reliable cash flow.; **Recently renovated apartments with new flooring, new kitchens, and energy‑saving appliances.**