Leased Two-Unit
For Sale
$350,000
314 & 316 Bayou Avenue, Panama City, FL 32401
Residential, Panama City, FL
Property Size2,438 SF
Lot Size0.09 Acres
Price / SF$143.56
Days on Market55
Property Features for 314 & 316 Bayou Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 2, Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 2, Bathroom 4, Bathroom 3, Bedroom 3, Bedroom 1
Subdivision
No Named Subdivision
Lot features
Paved
Elementary school
Parker
Middle school
Rutherford Middle
High school
Rutherford
Directions
Head toward S Tyndall Pkwy on Lance St. Turn left onto S Tyndall Pkwy (US-98 W). Turn left onto E 3rd St (SR-22). Turn right onto Bayou Ave. End at 314 Bayou Ave Panama City, Florida 32401
Standard status
Active
APN
23120-000-000
Size
2,438 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
11 4S 14W-118-118C1 BEG 125' W & 230' S OF NE COR OF SE1/4 OF SE1/4 OF NE1/4 TH S 40' W 105' N 40' E 105' TO POB ORB 4722 P 1724
Tax Annual Amount
4183
Legal Description
11 4S 14W-118-118C1 BEG 125' W & 230' S OF NE COR OF SE1/4 OF SE1/4 OF NE1/4 TH S 40' W 105' N 40' E 105' TO POB ORB 4722 P 1724
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2024
Floors in Building
2
Architectural style
Other
Listing Agency:
ERA Neubauer Real Estate Inc · ERA Real Estate
(850) 785-1551
Listed By:
Heather H Neubauer · License #3257545
(850) 774-2832
Added: Aug 28
Changed: Oct 16
Last Checked: Oct 21 at 9:06AM
MLS# 795016
Copyright © 2026 Central Panhandle 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.
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Investment Insights
Based on property information with market context.
Built in 2024, this duplex contains two residential units, each configured with three bedrooms and two bathrooms. The property measures 2,438 square feet on a 0.09-acre lot, with central heating, central air, and public sewer service. Both units are leased, with separate lease terms covering the current occupancy period.
The property is located at 314 & 316 Bayou Avenue in Panama City, Florida 32401. The lease for 314 Bayou Avenue runs from October 1, 2025, through September 30, 2026, while the lease for 316 Bayou Avenue extends from September 1, 2025, through August 31, 2026. Buyer to verify square footage, lease terms, and operating expenses.
The property is located at 314 & 316 Bayou Avenue in Panama City, Florida 32401. The lease for 314 Bayou Avenue runs from October 1, 2025, through September 30, 2026, while the lease for 316 Bayou Avenue extends from September 1, 2025, through August 31, 2026. Buyer to verify square footage, lease terms, and operating expenses.
Key Highlights
- Built in 2024
- Two units, each with 3 bedrooms and 2 bathrooms
- 2,438 square feet on a 0.09‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,941
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$518,820
$518.8K
Cap Rate 7%
$370,586
$370.6K
Cap Rate 9%
$288,233
$288.2K
Market Conditions
NOI Build-Up for 2,438 SF
Gross rent
$39.5K $16.20/SF
− Vacancy
−$2.4K −$1.00/SF
EGI
$37.1K $15.20/SF
− OpEx
−$11.1K −$4.56/SF
NOI
$25.9K $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%
$518,820
Cap Rate 7%
$370,586
Cap Rate 9%
$288,233
Alternative Uses
Best Use
Multifamily LT 5
$370.6K
$324.3K – $432.4K
NOI $25,941 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$339.6K
$297.1K – $396.2K
NOI $23,771 @ 7.0% cap · market cap 6.79%
Theoretical Best
Office A
$710.3K
$621.6K – $828.7K
NOI $49,724 @ 7.0% cap · market cap 14.21%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
251
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Newer income property with two three-bedroom, two-bath units and current leases in place.
Where is this duplex located?
The property is located at 314 & 316 Bayou Avenue 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 2024; Two units, each with 3 bedrooms and 2 bathrooms; 2,438 square feet on a 0.09‑acre lot
