Six-Unit Motel Near Beach
For Sale
$2,900,000
8524 Surf Dr, Panama City Beach, FL 32408
Furnished lodging property with direct beach access and a walkable coastal setting.
Property Size21,780 SF
Price / SF$133.15
Days on Market51
Property Features for 8524 Surf Dr
General Information
Standard status
Active
Size
21,780 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Listing Agency:
Coastal Vibes Luxury Realty
Listed By:
Delawalla Group
(850) 225-9899
Source:
Bestofemeraldcoast
Added: Aug 19
Changed: Oct 7
Last Checked: Oct 7 at 12:11PM
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 Coastal Vibes Luxury Realty
Investment Insights
Based on property information with market context.
This six-unit motel is an operating lodging property on a lot measuring 170x150, or over half an acre. The accommodations are furnished, and the property carries an established coastal character suited to continued motel operations or a boutique lodging concept. A beach view is available from the north side of Surf Drive, with beach access located steps from the property.
High-intensity zoning adds flexibility for future planning and redevelopment. The site is within walking distance of dining, entertainment, and local attractions, providing a convenient setting for guests. Existing improvements, furnishings, and the six-unit configuration provide a foundation for continued hospitality use.
High-intensity zoning adds flexibility for future planning and redevelopment. The site is within walking distance of dining, entertainment, and local attractions, providing a convenient setting for guests. Existing improvements, furnishings, and the six-unit configuration provide a foundation for continued hospitality use.
Key Highlights
- Six‑unit motel on over half an acre
- Lot dimensions of 170x150
- Beach view from the north side of Surf Drive
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$136,561
Cap Rate
4.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,731,220
$2.7M
Cap Rate 7%
$1,950,871
$2.0M
Cap Rate 9%
$1,517,344
$1.5M
Market Conditions
NOI Build-Up for 21,780 SF
Gross rent
$326.7K $15.00/SF
− Vacancy
−$39.2K −$1.80/SF
EGI
$287.5K $13.20/SF
− OpEx
−$150.9K −$6.93/SF
NOI
$136.6K $6.27/SF
Area
Bay County, FL
Vacancy
12.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,731,220
Cap Rate 7%
$1,950,871
Cap Rate 9%
$1,517,344
Alternative Uses
Best Use
Hotel Hospitality
$1.95M
$1.71M – $2.28M
NOI $136,561 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.35M
$5.55M – $7.40M
NOI $444,216 @ 7.0% cap · market cap 15.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
436
Businesses Nearby
Well-served
Demand for This Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Motel - Furnished lodging property with direct beach access and a walkable coastal setting.
Where is this motel located?
The property is located at 8524 Surf Dr Panama City Beach, FL.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Six‑unit motel on over half an acre; Lot dimensions of 170x150; Beach view from the north side of Surf Drive
