Updated Beach-Area
For Sale
$1,190,000
3908 Ocean View Drive A, Panama City Beach, FL 32408
Four leased residences feature in-unit laundry and new air-conditioning units.
Property Size3,420 SF
Price / SF$347.95
Days on Market134
Property Features for 3908 Ocean View Drive A
General Information
Standard status
Active
Size
3,420 SF
Property subtype
Quadruplex
Occupancy
100%
Additional Details
Multifamily Units
4
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$6,017
Building Details
Building Size
3,420 SF
Year Built
1982
Listing Agency:
Side
Listed By:
Local Insight Realty
(850) 832-9417
Source:
Localinsightrealty
Added: Jun 16
Changed: Oct 26
Last Checked: Oct 26 at 2:37PM
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 Side
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Investment Insights
Based on property information with market context.
This 3,420-square-foot quadplex was built in 1982 and contains four residences with a combined 8 bedrooms and 4 bathrooms. Interior improvements include impact-rated windows and doors, Calacatta tile flooring, quartz counters, updated kitchen cabinetry, recessed lighting, renovated showers, stainless steel appliances, and fresh paint. Each unit has a washer and dryer, and the property has new air-conditioning units.
Beach access is a short walk away. Nearby amenities listed include restaurants, beach clubs, shopping, parks, and convenience stores.
Beach access is a short walk away. Nearby amenities listed include restaurants, beach clubs, shopping, parks, and convenience stores.
Key Highlights
- Four‑unit property totaling 3,420 square feet
- Combined layout of 8 bedrooms and 4 bathrooms
- All four units are rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,390
Cap Rate
3.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$727,800
$727.8K
Cap Rate 7%
$519,857
$519.9K
Cap Rate 9%
$404,333
$404.3K
Market Conditions
NOI Build-Up for 3,420 SF
Gross rent
$55.4K $16.20/SF
− Vacancy
−$3.4K −$1.00/SF
EGI
$52.0K $15.20/SF
− OpEx
−$15.6K −$4.56/SF
NOI
$36.4K $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%
$727,800
Cap Rate 7%
$519,857
Cap Rate 9%
$404,333
Alternative Uses
Best Use
Multifamily LT 5
$519.9K
$454.9K – $606.5K
NOI $36,390 @ 7.0% cap · market cap 3.06%
Second Best
Apartment 5plus
$476.4K
$416.8K – $555.8K
NOI $33,346 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$996.5K
$871.9K – $1.16M
NOI $69,753 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
444
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
Frequently Asked Questions
What type of property is this?
Quadplex - Four leased residences feature in-unit laundry and new air-conditioning units.
Where is this quadplex located?
The property is located at 3908 Ocean View Drive A Panama City Beach, FL.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: Four‑unit property totaling 3,420 square feet; Combined layout of 8 bedrooms and 4 bathrooms; All four units are rented
