5820 Hickory St Panama City, FL 32404
16-unit apartment building near Tyndall Air Force Base.
- Added:
- Feb 23, 2026
- Days on Market:
- 140
- Last Refresh:
- Jun 28 at 11:43 am
Property Features for 5820 Hickory St
General Information
- Standard status
- Active
- Size
- 12,096 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1981
Listing office SeaCrest Advisors LLC
Listing date Feb 23, 2026
Source Crexi
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 SeaCrest Advisors LLC
Investment Insights
Based on property information with market context.
Key Highlights
- Extensive value‑add renovation program completed: Over $600,000 invested in recent improvements.
- Located minutes from Tyndall Air Force Base, a major regional employer.
- Proximity to Downtown Panama City with trendy restaurants and retail destinations.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $290.3k | $24.00 |
| − Vacancy | −$46.7k | −$3.86 |
| EGI | $243.6k | $20.14 |
| − OpEx | −$109.6k | −$9.06 |
| NOI | $134.0k | $11.07 |
