4-Unit Townhome-Style
New
For Sale
$775,000
7308 Kingman Street, Panama City Beach, FL 32408
Four occupied rental units are arranged as townhome-style residences, with established tenants in place.
Property Size4,464 SF
Price / SF$173.61
Days on Market7
Property Features for 7308 Kingman Street
General Information
Standard status
Active
Size
4,464 SF
Property subtype
Commercial
Occupancy
100%
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Additional Details
Gross Income
$70,000
Tenant in Place
Yes
Amenities
Composition Roof
Shingle Roof
Building Details
Year Built
1983
Listing Agency:
DALTON WADE INC
(888) 668-8283
Listed By:
ANDREI CUNITIN · License #3479645
(850) 960-3857
Source:
Corcoran
Added: Oct 27
Changed: Nov 1
Last Checked: Nov 1 at 6:14AM
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 DALTON WADE INC
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Investment Insights
Based on property information with market context.
Built in 1983, this 4,464-square-foot quadplex contains four separate townhome-style units. Each residence has two bedrooms and one-and-a-half bathrooms. All four units are occupied, and tenants have remained for more than five years. The property has a roof installed in 2018, one HVAC system replaced in 2025, and a recently installed drain field.
An additional parcel of approximately 0.274 acres is included. The property is directly across from Naval Support Activity Panama City and a short drive from Panama City Beach, shopping, grocery stores, and restaurants. A property survey is available for review.
An additional parcel of approximately 0.274 acres is included. The property is directly across from Naval Support Activity Panama City and a short drive from Panama City Beach, shopping, grocery stores, and restaurants. A property survey is available for review.
Key Highlights
- Four occupied units, each with 2 bedrooms and 1.5 bathrooms
- 4,464‑square‑foot building constructed in 1983
- Additional parcel of approximately 0.274 acres included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,498
Cap Rate
6.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$949,960
$950.0K
Cap Rate 7%
$678,543
$678.5K
Cap Rate 9%
$527,756
$527.8K
Market Conditions
NOI Build-Up for 4,464 SF
Gross rent
$72.3K $16.20/SF
− Vacancy
−$4.5K −$1.00/SF
EGI
$67.9K $15.20/SF
− OpEx
−$20.4K −$4.56/SF
NOI
$47.5K $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%
$949,960
Cap Rate 7%
$678,543
Cap Rate 9%
$527,756
Alternative Uses
Best Use
Multifamily LT 5
$678.5K
$593.7K – $791.6K
NOI $47,498 @ 7.0% cap · market cap 6.13%
Second Best
Apartment 5plus
$621.8K
$544.1K – $725.4K
NOI $43,525 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,046 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
545
Businesses Nearby
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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?
Quadplex - Four occupied rental units are arranged as townhome-style residences, with established tenants in place.
Where is this quadplex located?
The property is located at 7308 Kingman Street Panama City Beach, FL.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Four occupied units, each with 2 bedrooms and 1.5 bathrooms; 4,464‑square‑foot building constructed in 1983; Additional parcel of approximately 0.274 acres included
