8-Unit Rebuilt Multifamily
For Sale
$1,500,000
810 25th Street, Panama City, FL 32405
Four duplex buildings offer renovated two-bedroom units with modern systems and indoor laundry rooms.
Property Size9,120 SF
Price / SF$164.47
Days on Market90
Property Features for 810 25th Street
General Information
Standard status
Active
Size
9,120 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
8 x 2BR/2BA
Multifamily Units
8
Additional Details
Gross Income
$143,700
Amenities
indoor laundry rooms
3
Building Details
Year Built
1970
Buildings
4
Listing Agency:
Chesnut Realty, Inc
(850) 276-2326
Listed By:
Jarah Chesnut
(850) 276-2326
Source:
Xome
Added: May 29
Changed: Aug 25
Last Checked: Aug 25 at 6:54AM
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 Chesnut Realty, Inc
Investment Insights
Based on property information with market context.
This multifamily property comprises four duplex buildings with eight total units, each configured with two bedrooms and two bathrooms. The structures were rebuilt from the concrete block walls and studs after Hurricane Michael, with extensive updates including new roofs, PVC plumbing, PEX water lines, spray foam insulation, HVAC systems, ductwork, appliances, electrical service, lighting, flooring, sheetrock, and plumbing fixtures. Every unit also includes an indoor laundry room.
All eight units are currently leased. The property is located at 810 E 25th Street in Panama City, with access to shopping, dining, schools, medical facilities, and major roadways. Built in 1970, the portfolio combines an established construction date with substantial post-storm reconstruction and system upgrades.
All eight units are currently leased. The property is located at 810 E 25th Street in Panama City, with access to shopping, dining, schools, medical facilities, and major roadways. Built in 1970, the portfolio combines an established construction date with substantial post-storm reconstruction and system upgrades.
Key Highlights
- Four duplexes containing 8 total units
- Each unit includes 2 bedrooms and 2 bathrooms
- All 8 units are currently leased
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$110,321
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,206,420
$2.2M
Cap Rate 7%
$1,576,014
$1.6M
Cap Rate 9%
$1,225,789
$1.2M
Market Conditions
NOI Build-Up for 9,120 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$186.0K $20.40/SF
− Vacancy
−$28.4K −$3.12/SF
EGI
$157.6K $17.28/SF
− OpEx
−$47.3K −$5.18/SF
NOI
$110.3K $12.10/SF
Area
Walton County, FL
Vacancy
15.29%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,206,420
Cap Rate 7%
$1,576,014
Cap Rate 9%
$1,225,789
Alternative Uses
Best Use
Multifamily LT 5
$1.58M
$1.38M – $1.84M
NOI $110,321 @ 7.0% cap · market cap 7.35%
Second Best
Apartment 5plus
$1.44M
$1.26M – $1.68M
NOI $101,002 @ 7.0% cap · market cap 6.73%
Theoretical Best
Office A
$2.29M
$2.01M – $2.68M
NOI $160,548 @ 7.0% cap · market cap 10.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
Explore this area
Business Placement
Demographics for 32405, FL
28,158
Population
13,585
Households
2.1
Avg Household Size
40
Median Age
29%
College-Educated
92%
High-School Grad
18.8 sq mi
ZIP Area
1,498
Density / Sq Mi
$71,002
Median Household Income
$41,867
Median Earnings
$1,418
Median Rent
$255,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Four duplex buildings offer renovated two-bedroom units with modern systems and indoor laundry rooms.
Where is this multifamily property located?
The property is located at 810 25th Street Panama City, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Four duplexes containing 8 total units; Each unit includes 2 bedrooms and 2 bathrooms; All 8 units are currently leased
