Waterfront Property with
9927 Bedgood Road Panama City, FL 32409
For Sale
Contact for pricing
Waterfront home with direct Gulf access, two docks, and a separate income-producing 1 bed/1 bath cottage.
Property Size3,667 SF
Price / SF$228.39
Days on Market52
Property Features for 9927 Bedgood Road
General Information
- Standard status
- Active
- Size
- 3,667 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1997
Listing Agency:
CENTURY 21 Commander Realty
(850) 774-0663
Listed By:
Kristin Aleywine
Source:
Crexi
Added: Jun 4
Changed: Jul 23
Last Checked: Jul 23 at 6:20PM
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
Investment Insights
Based on property information with market context.
Waterfront property on Burnt Mill Creek offering direct Gulf access and no HOA. The main home is designed around water views, with a large living area featuring double French doors into a Florida room, plus a screened porch off the kitchen and dining area. Upstairs, the primary suite includes French doors to a private screened balcony. A second master suite is located downstairs with a double vanity, walk-in closet, and French doors opening to the Florida room, along with an additional downstairs bedroom. Outside, mature Magnolia trees provide shade around large decks, and the property includes two docks. The covered dock features a motorized boat lift and previously accommodated a 22' bay boat, plus a fish-cleaning station with water and power.
The property also includes a separate income-producing 1 bedroom, 1 bathroom cottage with a current tenant in place. Storage is supported by two storage sheds and a 25' x 20' Carolina carport built in 2024. Short-term rentals are allowed, and the setting is surrounded by conservation land.
Beyond the home layout and dock amenities, the waterfront configuration is built for day-to-day recreation on the water, including launching boats from the backyard and keeping multiple watercraft options docked.
The property also includes a separate income-producing 1 bedroom, 1 bathroom cottage with a current tenant in place. Storage is supported by two storage sheds and a 25' x 20' Carolina carport built in 2024. Short-term rentals are allowed, and the setting is surrounded by conservation land.
Beyond the home layout and dock amenities, the waterfront configuration is built for day-to-day recreation on the water, including launching boats from the backyard and keeping multiple watercraft options docked.
Key Highlights
- Waterfront home on Burnt Mill Creek with direct Gulf access and no HOA (built 1997)
- Separate income‑producing 1 bed / 1 bath cottage with a current tenant already in place
- Two docks, including a covered dock with a motorized boat lift (previously accommodated a 22' bay boat)
Financial Insights For Apartment 5plus
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 | $88.0k | $24.00 |
| − Vacancy | −$14.2k | −$3.86 |
| EGI | $73.8k | $20.14 |
| − OpEx | −$33.2k | −$9.06 |
| NOI | $40.6k | $11.07 |
3,667 SF · lease $24.00/SF/yr · vacancy 16.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$580.2K
$507.6K – $676.9K
NOI $40,611 @ 7.0% cap · market cap 4.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$922.2K
$806.9K – $1.08M
NOI $64,554 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Waterfront Land
FAQs
What type of property is this?
Waterfront Land - Waterfront home with direct Gulf access, two docks, and a separate income-producing 1 bed/1 bath cottage.
Where is this waterfront land located?
The property is located at 9927 Bedgood Road Panama City, FL.
What is the asking price?
The asking price for this property is $837,500.
What are key features of this property?
This property features: Waterfront home on Burnt Mill Creek with direct Gulf access and no HOA (built 1997); Separate income‑producing 1 bed / 1 bath cottage with a current tenant already in place; Two docks, including a covered dock with a motorized boat lift (previously accommodated a 22' bay boat)
