Three-Unit
For Sale
$554,900
6218 Hilltop Avenue A B C, Panama City, FL 32408
All three residences have long-term tenants under lease.
Property Size2,052 SF
Price / SF$270.42
Days on Market52
Property Features for 6218 Hilltop Avenue A B C
General Information
Standard status
Active
Size
2,052 SF
Property subtype
Triplex
Occupancy
100%
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,831
Building Details
Building Size
2,052 SF
Year Built
1981
Listing Agency:
Side
Listed By:
Local Insight Realty
(850) 832-9417
Source:
Localinsightrealty
Added: Sep 6
Changed: Oct 27
Last Checked: Oct 26 at 2:55PM
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 Side
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Investment Insights
Based on property information with market context.
This triplex contains three residences, each configured with two bedrooms and one bathroom. The property was built in 1981 and is currently fully occupied under long-term leases.
Hilltop Avenue is near Grand Lagoon, St. Andrews State Park, boat ramps, marinas, and local dining in Panama City, Florida.
Hilltop Avenue is near Grand Lagoon, St. Andrews State Park, boat ramps, marinas, and local dining in Panama City, Florida.
Key Highlights
- Three residences, each with 2 bedrooms and 1 bathroom
- Fully occupied with long‑term leases in place
- Built in 1981
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,834
Cap Rate
3.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$436,680
$436.7K
Cap Rate 7%
$311,914
$311.9K
Cap Rate 9%
$242,600
$242.6K
Market Conditions
NOI Build-Up for 2,052 SF
Gross rent
$33.2K $16.20/SF
− Vacancy
−$2.1K −$1.00/SF
EGI
$31.2K $15.20/SF
− OpEx
−$9.4K −$4.56/SF
NOI
$21.8K $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%
$436,680
Cap Rate 7%
$311,914
Cap Rate 9%
$242,600
Alternative Uses
Best Use
Multifamily LT 5
$311.9K
$272.9K – $363.9K
NOI $21,834 @ 7.0% cap · market cap 3.93%
Second Best
Apartment 5plus
$285.8K
$250.1K – $333.5K
NOI $20,007 @ 7.0% cap · market cap 3.61%
Theoretical Best
Office A
$597.9K
$523.2K – $697.5K
NOI $41,852 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
510
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - All three residences have long-term tenants under lease.
Where is this triplex located?
The property is located at 6218 Hilltop Avenue A B C Panama City, FL.
What is the asking price?
The asking price for this property is $554,900.
What are key features of this property?
This property features: Three residences, each with 2 bedrooms and 1 bathroom; Fully occupied with long‑term leases in place; Built in 1981
