Three-Unit
For Sale
$599,000
726 Detroit Avenue, Panama City, FL 32401
Residential, Panama City, FL
Property Size3,891 SF
Price / SF$153.95
Days on Market208
Property Features for 726 Detroit Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
9
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 7, Bedroom 1, Bedroom 8, Bedroom 5, Bedroom 4, Bedroom 6, Bathroom 2, Bathroom 3, Bathroom 5, Bathroom 6, Bedroom 3, Bedroom 9, Bathroom 1, Bathroom 4, Bedroom 2
Interior features
MainLevelPrimary
Subdivision
No Named Subdivision
Elementary school
Parker
Middle school
Rutherford Middle
High school
Rutherford
Directions
On Detroit Avenue
Standard status
Active
APN
15384-030-001
Size
3,891 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
2 4S 14W -186.3- 118B4 COM AT NW COR OF NE1/4 OF SE1/4 OF SE1/4 TH S 528.24' E 25' TO E R/W OF DETROIT AV TH N 39.13' TO EXT OF COMMON WALL FOR POB TH CONT N 21.42' TO EXT OF COMMON WALL TH E 100' S 21.42' TO EXT OF COMMON WALL TH W 100' TO POB ORB 4 447 P 644
Tax Annual Amount
2653
Legal Description
2 4S 14W -186.3- 118B4 COM AT NW COR OF NE1/4 OF SE1/4 OF SE1/4 TH S 528.24' E 25' TO E R/W OF DETROIT AV TH N 39.13' TO EXT OF COMMON WALL FOR POB TH CONT N 21.42' TO EXT OF COMMON WALL TH E 100' S 21.42' TO EXT OF COMMON WALL TH W 100' TO POB ORB 4 447 P 644
Utilities
Sewer type
Public Sewer
Amenities
private driveways
individual backyard spaces
Building Details
Year built
2023
Listing Agency:
Realty One Group Emerald Coast
(850) 238-8338
Listed By:
Shaunnah Whitely · License #3308847
(850) 381-1663
Added: Apr 10
Changed: Nov 1
Last Checked: Nov 3 at 7:06AM
MLS# 790460
Copyright © 2026 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 2023, this 3,891-square-foot triplex contains three residences of approximately 1,300 square feet each. Every unit has three bedrooms, two full bathrooms, a galley kitchen, and an open living area, along with a private driveway and backyard space. Public sewer serves the property.
Key Highlights
- Three occupied units, each with 3 bedrooms and 2 full bathrooms
- 3,891 square feet total; each residence is approximately 1,300 square feet
- Built in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,401
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$828,020
$828.0K
Cap Rate 7%
$591,443
$591.4K
Cap Rate 9%
$460,011
$460.0K
Market Conditions
NOI Build-Up for 3,891 SF
Gross rent
$63.0K $16.20/SF
− Vacancy
−$3.9K −$1.00/SF
EGI
$59.1K $15.20/SF
− OpEx
−$17.7K −$4.56/SF
NOI
$41.4K $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%
$828,020
Cap Rate 7%
$591,443
Cap Rate 9%
$460,011
Alternative Uses
Best Use
Multifamily LT 5
$591.4K
$517.5K – $690.0K
NOI $41,401 @ 7.0% cap · market cap 6.91%
Second Best
Apartment 5plus
$542.0K
$474.2K – $632.3K
NOI $37,938 @ 7.0% cap · market cap 6.33%
Theoretical Best
Office A
$1.13M
$992.0K – $1.32M
NOI $79,359 @ 7.0% cap · market cap 13.25%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
Explore this area
Business Placement
Demographics for 32401, FL
20,487
Population
10,239
Households
2
Avg Household Size
42
Median Age
20%
College-Educated
86%
High-School Grad
12.5 sq mi
ZIP Area
1,639
Density / Sq Mi
$49,901
Median Household Income
$35,885
Median Earnings
$1,194
Median Rent
$207,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - All residences are occupied and include private outdoor space and dedicated driveways.
Where is this triplex located?
The property is located at 726 Detroit Avenue Panama City, 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 occupied units, each with 3 bedrooms and 2 full bathrooms; 3,891 square feet total; each residence is approximately 1,300 square feet; Built in 2023
