Three-Unit Triplex with Gulf
For Sale
$599,000
604 Lantana Street, Panama City Beach, FL 32407
Two two-bedroom residences and a studio provide a varied residential unit mix.
Property Size1,892 SF
Price / SF$316.60
Days on Market42
Property Features for 604 Lantana Street
General Information
Standard status
Active
Size
1,892 SF
Property subtype
Triplex
Units
Unit Mix
2 x 2-bedroom, 1 x studio
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,257
Building Details
Building Size
1,892 SF
Year Built
1991
Listing Agency:
Anchor Realty Florida
Listed By:
Ray A Kistler · License #3294968
(850) 708-2226
Source:
Saltymarlinrealty
Added: Sep 21
Changed: Oct 31
Last Checked: Oct 31 at 3:10AM
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 Anchor Realty Florida
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Investment Insights
Based on property information with market context.
This 1,892-square-foot triplex, built in 1991, contains three residences: two with two bedrooms each and one studio. A third-story deck offers a view of the Gulf, while a spacious backyard and ample parking add outdoor and vehicle space.
The property is across the street from a park and within walking distance of restaurants and bars. Beach Access 50 is also nearby.
The property is across the street from a park and within walking distance of restaurants and bars. Beach Access 50 is also nearby.
Key Highlights
- Three units: two 2‑bedroom units and one studio
- 1,892 square feet; built in 1991
- Third‑story deck with a Gulf view
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,131
Cap Rate
3.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,620
$402.6K
Cap Rate 7%
$287,586
$287.6K
Cap Rate 9%
$223,678
$223.7K
Market Conditions
NOI Build-Up for 1,892 SF
Gross rent
$30.7K $16.20/SF
− Vacancy
−$1.9K −$1.00/SF
EGI
$28.8K $15.20/SF
− OpEx
−$8.6K −$4.56/SF
NOI
$20.1K $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%
$402,620
Cap Rate 7%
$287,586
Cap Rate 9%
$223,678
Alternative Uses
Best Use
Multifamily LT 5
$287.6K
$251.6K – $335.5K
NOI $20,131 @ 7.0% cap · market cap 3.36%
Second Best
Apartment 5plus
$263.5K
$230.6K – $307.5K
NOI $18,447 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$551.3K
$482.4K – $643.1K
NOI $38,588 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
351
Businesses Nearby
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Business Placement
Demographics for 32407, FL
14,366
Population
12,163
Households
1.2
Avg Household Size
41
Median Age
40%
College-Educated
96%
High-School Grad
14.9 sq mi
ZIP Area
964
Density / Sq Mi
$79,052
Median Household Income
$44,027
Median Earnings
$1,792
Median Rent
$403,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Two two-bedroom residences and a studio provide a varied residential unit mix.
Where is this triplex located?
The property is located at 604 Lantana Street Panama City Beach, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Three units: two 2‑bedroom units and one studio; 1,892 square feet; built in 1991; Third‑story deck with a Gulf view
