Fourplex Near Beach
For Sale
$1,150,000
4113 Holiday Drive, Panama City, FL 32408
Four-unit property with tiled interiors, ceiling fans, and a paved driveway near Gulf access and Lower Grand Lagoon amenities.
Property Size2,944 SF
Price / SF$390.63
Days on Market132
Property Features for 4113 Holiday Drive
General Information
Standard status
Active
Size
2,944 SF
Property subtype
General Commercial
Additional Details
Multifamily Units
4
Amenities
Electric, Ceiling Fan(s)
3
Tile
Shingle
Paved Driveway.
Bay
Level
Rain Gutters. Level.
Building Details
Year Built
1983
Buildings
1
Listing Agency:
Coldwell Banker Realty
(850) 774-8944
Listed By:
Frank Trenholm
(850) 774-8944
Source:
Xome
Added: Apr 20
Changed: Aug 29
Last Checked: Aug 29 at 5:24PM
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
Investment Insights
Based on property information with market context.
This 2,944-square-foot fourplex, built in 1983, contains four residential units with practical layouts suited to flexible occupancy. Interior details include tile flooring and ceiling fans, while the property also features a shingle roof, rain gutters, a level setting, and a paved driveway.
The property is located at 4113 Holiday Drive in Panama City, near the Lower Grand Lagoon area and Thomas Dr. Gulf access and a public beach are within a short walk. St. Andrews State Park, marinas, and restaurants are also nearby, placing the building within a coastal destination setting.
The property is located at 4113 Holiday Drive in Panama City, near the Lower Grand Lagoon area and Thomas Dr. Gulf access and a public beach are within a short walk. St. Andrews State Park, marinas, and restaurants are also nearby, placing the building within a coastal destination setting.
Key Highlights
- Four‑unit property totaling 2,944 SF
- Built in 1983
- Short walk to the Gulf and public beach access
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
$35,612
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
3.10%
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%
$712,240
$712.2K
Cap Rate 7%
$508,743
$508.7K
Cap Rate 9%
$395,689
$395.7K
Market Conditions
NOI Build-Up for 2,944 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
$60.1K $20.40/SF
− Vacancy
−$9.2K −$3.12/SF
EGI
$50.9K $17.28/SF
− OpEx
−$15.3K −$5.18/SF
NOI
$35.6K $12.10/SF
Area
Walton County, FL
Vacancy
15.29%
Lease Rate
$20.40 /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%
$712,240
Cap Rate 7%
$508,743
Cap Rate 9%
$395,689
Alternative Uses
Best Use
Multifamily LT 5
$508.7K
$445.2K – $593.5K
NOI $35,612 @ 7.0% cap · market cap 3.10%
Second Best
Apartment 5plus
$465.8K
$407.6K – $543.4K
NOI $32,604 @ 7.0% cap · market cap 2.84%
Theoretical Best
Office A
$740.4K
$647.8K – $863.8K
NOI $51,826 @ 7.0% cap · market cap 4.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
408
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?
Quadplex - Four-unit property with tiled interiors, ceiling fans, and a paved driveway near Gulf access and Lower Grand Lagoon amenities.
Where is this quadplex located?
The property is located at 4113 Holiday Drive Panama City, FL.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Four‑unit property totaling 2,944 SF; Built in 1983; Short walk to the Gulf and public beach access
