Furnished
For Sale
$545,000
8402 Elizabeth Avenue, Panama City Beach, FL 32408
MULTI_FAMILY - Other - Panama City Beach, FL
Property Size1,788 SF
Lot Size0.14 Acres
Price / SF$304.81
Days on Market160
Property Features for 8402 Elizabeth Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Resid Single Family
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 2, Bathroom 4
Interior features
MainLevelPrimary
Exterior features
FirePit
Fencing
Privacy
Appliances
ElectricOven
Subdivision
Bel Air
Elementary school
Breakfast Point
Middle school
Breakfast Point
High school
Arnold
Directions
From the Hathaway Bridge traveling west on Hwy 98 Use the middle 2 lanes to turn slightly right to stay on US-98 W Pass by Taco Bell (on the right in 0.2 mi) Use the left 2 lanes to turn slightly left onto FL-30 W/Front Beach Rd Continue on Joan Ave. Take C R 392/Thomas Dr to Elizabeth Ave in Lower Grand Lagoon
Standard status
Active
APN
30291-000-000
Size
1,788 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BEL AIR LOT 25 BLK 5 ORB 3422 P 1068 MAP 58B3&B4
Tax Annual Amount
5053
Legal Description
BEL AIR LOT 25 BLK 5 ORB 3422 P 1068 MAP 58B3&B4
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Amenities
fire pits
outdoor shower
backyards
Building Details
Year built
1999
Building materials
Stucco
Architectural style
Other
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(850) 234-6696
Listed By:
Catriese M Johnson · License #SL3431258
(850) 687-7487
Added: Feb 24
Changed: Aug 3
Last Checked: Aug 3 at 12:06PM
MLS# 785770
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.
Investment Insights
Based on property information with market context.
Built in 1999, this furnished duplex provides two separate units, each with two bedrooms and two bathrooms. The interior is set up for easy living with tile flooring throughout, an open floor feel, and a main-level primary. Recent renovations are referenced throughout, including updated kitchens with granite countertops and stainless steel appliances, along with updated bathrooms. Electric oven appliances are included, and the duplex is served by central heating and central air.
Outside, the property includes privacy fencing, a fire pit area in the back yard, and an outdoor shower for returning beachgoers. The configuration gives flexibility for investors, with the option described to short-term rent both units or live in one unit while renting the other.
The property sits on a 0.14-acre lot and totals 1,788 square feet. It’s listed for sale as a turnkey option with the furnishings included.
Outside, the property includes privacy fencing, a fire pit area in the back yard, and an outdoor shower for returning beachgoers. The configuration gives flexibility for investors, with the option described to short-term rent both units or live in one unit while renting the other.
The property sits on a 0.14-acre lot and totals 1,788 square feet. It’s listed for sale as a turnkey option with the furnishings included.
Key Highlights
- 0.14‑acre lot with 1,788 SF total building area
- Built in 1999 duplex with two units
- Each unit offers two bedrooms and two bathrooms
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.0k | $16.20 |
| − Vacancy | −$1.8k | −$1.00 |
| EGI | $27.2k | $15.20 |
| − OpEx | −$8.2k | −$4.56 |
| NOI | $19.0k | $10.64 |
1,788 SF · lease $16.20/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$271.8K
$237.8K – $317.1K
NOI $19,025 @ 7.0% cap · market cap 3.49%
Second Best
Apartment 5plus
$249.0K
$217.9K – $290.6K
NOI $17,433 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$521.0K
$455.8K – $607.8K
NOI $36,467 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Built in 1999, this furnished two-unit duplex offers two bedrooms and two bathrooms per unit near beach access.
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 $545,000.
What are key features of this property?
This property features: 0.14‑acre lot with 1,788 SF total building area; Built in 1999 duplex with two units; Each unit offers two bedrooms and two bathrooms
