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520 Maine Ave Panama City, FL 32401

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For Sale
$350,999

Five-unit multifamily property with strong rental demand near beaches and schools.

Property size:
4,768 SF
Lot size:
0.32 Acres

Property Features for 520 Maine Ave

General Information

Standard status
Active
Size
4,768 SF
Lot size
0.32 Acres

Building Details

Year built
1946

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Listing Contact
Will Pender
Source: Corcoran

Listing Agency: KELLER WILLIAMS SUCCESS REALTY Listing Agent: Will Pender

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Panama City Multifamily Investment Opportunity

This five-unit multifamily property in Panama City is zoned for residential income-producing property. It presents an opportunity for portfolio expansion or entry into property management. The property consists of multiple buildings. Building 1, constructed in 1946, is a single-family residence with a total area of 2,129 square feet and a heated area of 1,251 square feet. It features aluminum siding, an ENG SHINGL roof, drywall interior walls, clay tile and carpet flooring, central air conditioning, and ducted air heating. It includes 3 bedrooms and 1 bathroom across 1 story. Building 2, built in 1956, is a two-story apartment building with a total area of 1,643 square feet and a heated area of 1,346 square feet. It has minimum exterior walls, an ENG SHINGL roof, drywall interior walls, and pine wood flooring. It is equipped with window air conditioning and RAD ELEC heating, with 4 bedrooms and 2 bathrooms. Building 3, constructed in 1952, is a duplex with a total area of 2,315 square feet and a heated area of 2,171 square feet. It features ASB SHNGLE exterior walls, an ENG SHINGL roof, drywall interior walls, and ASPH TILE flooring. It includes central air conditioning and ducted air heating, with 3 bedrooms and 2 bathrooms across 1 story. The property is located in an area with strong rental demand, close to beaches, schools, and major employers.
Location Intelligence

Current Use by Public Records

A Handyman Service Hardware & Home Improvement

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Accounting Firm

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

Location Insight

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  • Local Demand
City
Panama City
County
Walton
State
Florida
Longitude
-85.6319114
Latitude
30.1582961

FAQs

What type of property is this?
Apartment building - Five-unit multifamily property with strong rental demand near beaches and schools.
Where is this apartment building located?
The property is located at 520 Maine Ave Panama City, FL.
What is the asking price?
The asking price for this property is $350,999.
What are key features of this property?
This property features: - 5-unit multi-family property offering steady cash flow and long-term value; - Strong rental demand in Panama City; - Low maintenance units for easy management
More about this property
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