Two-Unit Duplex with Private
For Sale
$379,000
754 Sherman Avenue A & B, Panama City, FL 32401
Each residence includes three bedrooms, two bathrooms, a patio, and a backyard.
Property Size2,634 SF
Price / SF$143.89
Days on Market243
Property Features for 754 Sherman Avenue A & B
General Information
Standard status
Active
Size
2,634 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,295
Tenant in Place
Yes
Amenities
patio
backyard
Building Details
Building Size
2,634 SF
Year Built
2008
Year Renovated
2019
Buildings
1
Tenancy
Multi
Listing Agency:
CENTURY 21 Commander Realty
Listed By:
Connor L Meyette · License #SL3534681
(850) 740-9506
Source:
Gillmangrouprealty
Added: Feb 26
Changed: Oct 27
Last Checked: Oct 26 at 4:02PM
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 CENTURY 21 Commander Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2008, this duplex contains two residences, each with 3 bedrooms, 1 full bathroom, and 1 half bathroom. Both layouts connect an open living area with the kitchen, which has updated countertops and ample storage. The combined building area is 2,634 square feet.
A 2019 remodel included the roof, siding, and HVAC systems. Each unit has a private driveway, patio, and backyard. Both residences are leased.
A 2019 remodel included the roof, siding, and HVAC systems. Each unit has a private driveway, patio, and backyard. Both residences are leased.
Key Highlights
- Two units, each with 3 bedrooms, 1 full bathroom, and 1 half bathroom
- 2,634‑square‑foot duplex built in 2008
- 2019 remodel included roof, siding, and HVAC systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,027
Cap Rate
7.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$560,540
$560.5K
Cap Rate 7%
$400,386
$400.4K
Cap Rate 9%
$311,411
$311.4K
Market Conditions
NOI Build-Up for 2,634 SF
Gross rent
$42.7K $16.20/SF
− Vacancy
−$2.6K −$1.00/SF
EGI
$40.0K $15.20/SF
− OpEx
−$12.0K −$4.56/SF
NOI
$28.0K $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%
$560,540
Cap Rate 7%
$400,386
Cap Rate 9%
$311,411
Alternative Uses
Best Use
Multifamily LT 5
$400.4K
$350.3K – $467.1K
NOI $28,027 @ 7.0% cap · market cap 7.39%
Second Best
Apartment 5plus
$366.9K
$321.0K – $428.0K
NOI $25,682 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$767.5K
$671.5K – $895.4K
NOI $53,722 @ 7.0% cap · market cap 14.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
294
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
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes three bedrooms, two bathrooms, a patio, and a backyard.
Where is this duplex located?
The property is located at 754 Sherman Avenue A & B Panama City, FL.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms, 1 full bathroom, and 1 half bathroom; 2,634‑square‑foot duplex built in 2008; 2019 remodel included roof, siding, and HVAC systems
