Furnished
For Sale
$495,000
8402 Elizabeth Avenue, Panama City Beach, FL 32408
Both residences have two bedrooms and two bathrooms, with furnishings included.
Property Size1,788 SF
Price / SF$276.85
Days on Market249
Property Features for 8402 Elizabeth Avenue
General Information
Standard status
Active
Size
1,788 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$5,053
Amenities
fire pits
outdoor shower
Building Details
Building Size
1,788 SF
Year Built
1999
Buildings
1
Listing Agency:
Coldwell Banker Realty
Listed By:
Catriese M Johnson · License #SL3431258
(850) 687-7487
Source:
Indianspringsfl
Added: Feb 24
Changed: Oct 27
Last Checked: Oct 26 at 3:59PM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
Built in 1999, this 1,788-square-foot duplex contains two residences, each with two bedrooms and two bathrooms. The interiors include tile flooring, updated kitchens with granite countertops and stainless steel appliances, and renovated bathrooms. Furnishings are included, along with backyard fire pits and an outdoor shower.
The property is at 8402 Elizabeth Avenue in Panama City Beach, with the beach described as a five-minute walk away. Restaurants, shopping, public beach access, and local attractions are also identified as nearby destinations.
The property is at 8402 Elizabeth Avenue in Panama City Beach, with the beach described as a five-minute walk away. Restaurants, shopping, public beach access, and local attractions are also identified as nearby destinations.
Key Highlights
- Two residences, each with 2 bedrooms and 2 bathrooms
- 1,788 square feet; built in 1999
- Furnished interiors with updated kitchens and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,025
Cap Rate
3.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$380,500
$380.5K
Cap Rate 7%
$271,786
$271.8K
Cap Rate 9%
$211,389
$211.4K
Market Conditions
NOI Build-Up for 1,788 SF
Gross rent
$29.0K $16.20/SF
− Vacancy
−$1.8K −$1.00/SF
EGI
$27.2K $15.20/SF
− OpEx
−$8.2K −$4.56/SF
NOI
$19.0K $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%
$380,500
Cap Rate 7%
$271,786
Cap Rate 9%
$211,389
Alternative Uses
Best Use
Multifamily LT 5
$271.8K
$237.8K – $317.1K
NOI $19,025 @ 7.0% cap · market cap 3.84%
Second Best
Apartment 5plus
$249.0K
$217.9K – $290.6K
NOI $17,433 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$521.0K
$455.8K – $607.8K
NOI $36,467 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
434
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
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have two bedrooms and two bathrooms, with furnishings included.
Where is this duplex located?
The property is located at 8402 Elizabeth Avenue Panama City Beach, FL.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 2 bathrooms; 1,788 square feet; built in 1999; Furnished interiors with updated kitchens and bathrooms
