Triplex with Varied Unit
For Sale
$750,000
5218 Beach Drive, Panama City, FL 32408
The residences include one- and two-bedroom configurations, with a loft in one unit.
Property Size2,919 SF
Price / SF$256.94
Days on Market27
Property Features for 5218 Beach Drive
General Information
Standard status
Active
Size
2,919 SF
Property subtype
Triplex
Units
Unit Mix
1 x 1BR+loft/2BA, 2 x 2BR/2BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,560
Building Details
Building Size
2,919 SF
Year Built
1992
Listing Agency:
Fun Quest Vacation Rentals Corp
Listed By:
Viola Zhuravel · License #SL3553750
(850) 960-2455
Source:
Indianspringsfl
Added: Oct 1
Changed: Oct 27
Last Checked: Oct 26 at 2:47PM
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 Fun Quest Vacation Rentals Corp
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,919-square-foot triplex, built in 1992, contains three residences with distinct layouts. One offers a bedroom, loft, and two bathrooms; the other two each have two bedrooms and two bathrooms.
At 5218 Beach Drive in Panama City, the property is a short walk from the beach and a four-minute walk from Schooners.
At 5218 Beach Drive in Panama City, the property is a short walk from the beach and a four-minute walk from Schooners.
Key Highlights
- 2,919 square feet across three residences
- Built in 1992
- One unit has 1 bedroom, a loft, and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,059
Cap Rate
4.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$621,180
$621.2K
Cap Rate 7%
$443,700
$443.7K
Cap Rate 9%
$345,100
$345.1K
Market Conditions
NOI Build-Up for 2,919 SF
Gross rent
$47.3K $16.20/SF
− Vacancy
−$2.9K −$1.00/SF
EGI
$44.4K $15.20/SF
− OpEx
−$13.3K −$4.56/SF
NOI
$31.1K $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%
$621,180
Cap Rate 7%
$443,700
Cap Rate 9%
$345,100
Alternative Uses
Best Use
Multifamily LT 5
$443.7K
$388.2K – $517.7K
NOI $31,059 @ 7.0% cap · market cap 4.14%
Second Best
Apartment 5plus
$406.6K
$355.8K – $474.4K
NOI $28,461 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$850.5K
$744.2K – $992.3K
NOI $59,535 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
457
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?
Triplex - The residences include one- and two-bedroom configurations, with a loft in one unit.
Where is this triplex located?
The property is located at 5218 Beach Drive Panama City, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2,919 square feet across three residences; Built in 1992; One unit has 1 bedroom, a loft, and 2 bathrooms
