Panama City, FL Multifamily Properties for Sale

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Updated: Jun 18

Remodeled Multifamily Property

119 College Avenue, Panama City, FL 32401

$695,000

5,222 sqft 0.41 AC lot

Six income‑producing units across four buildings
5,222 square feet on a 0.41‑acre corner lot
15 bedrooms and 9 bathrooms in total
Primary residence rebuilt from the studs with updated kitchens and three new HVAC systems
30‑year dimensional shingle roofs installed in 2019

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Updated: May 13

Remodeled Six-Unit Apartment Property

119 College Avenue, Panama City, FL 32401

$695,000

5,222 sqft 0.41 AC lot

Six income‑producing units across four buildings
15 bedrooms and 9 bathrooms within 5,222 square feet
0.41‑acre corner lot in Flood Zone X
Primary residence renovated down to the studs with updated kitchens and three new HVAC systems
Three detached single‑family homes, including one extensively remodeled unit

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Four-Building Apartment Complex

114 S Highway 22 A, Panama City, FL 32404

$1,600,000

13,768 sqft 0.65 AC lot

Fully occupied multifamily property with varied layouts, dedicated laundry areas, and recently improved exterior components.

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Front-Row Furnished Rental Residence

91 Milestone Dr #UNIT A, Inlet Beach, FL 32461

$925,000

1,678 sqft

Established vacation rental with flexible sleeping arrangements, community amenities, and convenient access to Scenic Highway 30A attractions.

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Furnished Duplex With Private Pools

5237 Thomas Drive, Panama City, FL 32408

$2,199,000

5,156 sqft 0.13 AC lot

Two three-story residences offer Gulf views, enclosed outdoor space, and short- or long-term rental use.

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Mobile Home Park Development Site

333 N Star Avenue, Panama City, FL 32404

$600,000

3,268 sqft 2.61 AC lot

Two 2024 Fleetwood homes accompany a cleared residential tract with well, septic, and power improvements.

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Six-Unit Apartment Building

2600 E 1st Plaza, Panama City, FL 32401

$675,000

2,432 sqft 0.35 AC lot

Recently built multifamily property with one-bedroom, one-bathroom residences and central heating and cooling.

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8-Unit Rebuilt Multifamily Property

810 E 25th Street, Panama City, FL 32405

$1,500,000

9,120 sqft

Four duplex buildings offer renovated two-bedroom units with modern systems and indoor laundry rooms.

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6-Unit Apartment Building

528 Kraft Avenue, Panama City, FL 32401

$1,300,000

6,372 sqft

Multifamily property with central HVAC, stacked washer-dryer appliances, and ramp access.

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Waterfront Quadplex

405 Massalina Drive, Panama City, FL 32401

$865,000

2,988 sqft 0.14 AC lot

Includes a furnished carriage house, shared dock, and deep-water access to the Bay and Gulf of Mexico.

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Renovated Garden-Style Apartment Community

3510 / 3536 Saint John St, Panama City, FL 32401

$6,243,750

33,060 sqft

Garden-style community with on-site laundry, a separate office building, and extensive unit and system upgrades.

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Renovated Six-Unit Apartment Property

116 Springfield Avenue, Panama City, FL 32401

$578,000

2,907 sqft 0.31 AC lot

Six detached residences combine updated interiors, separate utility metering, and established occupancy in a compact multifamily configuration.

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Six-Unit Apartment Building

116 Springfield Avenue, Panama City, FL 32401

$578,000

2,907 sqft 0.31 AC lot

Fully occupied multifamily property with detached residences, updated interiors, and separate utility metering for water and electricity.

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Six-Unit Apartment Building

2600 E 1st Plaza, Panama City, FL 32401

$675,000

2,432 sqft

Newer multifamily property with one-bedroom units and water and garbage service included in rent.

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Waterfront Triplex With Boat Lift

6722 S Lagoon Drive, Panama City, FL 32408

$1,100,000

2,720 sqft 0.25 AC lot

Updated lagoon property combines a furnished primary residence with two separate one-bedroom units and private boating amenities.

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Furnished Duplex Near Beach Access

5220 Beach Drive, Panama City, FL 32408

$589,999

1,232 sqft 0.14 AC lot

Two private residences provide flexible personal-use, vacation-rental, or long-term tenant options near the Gulf shoreline.

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Updated Waterfront Triplex

6722 S Lagoon Dr, Panama City, FL 32408

$1,100,000

2,720 sqft

Three-unit waterfront property with two boat slips and a boat lift.

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Two-Unit Duplex

147/ 149 Claire Avenue, Panama City, FL 32401

$350,000

2,400 sqft 0.16 AC lot

Each residence offers three bedrooms, two bathrooms, central HVAC, and electric cooking and water heating.

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Five-Unit Multifamily Property

520 Maine Ave, Panama City, FL 32401

$350,999

4,768 sqft

Panama City multifamily property with three separately described buildings and residential income-producing zoning.

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Beach-Access Fourplex

4113 Holiday Drive, Panama City, FL 32408

$995,000

2,944 sqft 0.05 AC lot

Four separate units are positioned for short-term rentals or long-term tenancy near the Gulf and public beach access.

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Six-Unit Apartment Property

116 Springfield Ave, Panama City, FL 32401

$578,000

2,907 sqft

Remodeled rental compound with individually metered dwellings and fully occupied units.

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Three-Unit Triplex

726 Detroit Avenue, Panama City, FL 32401

$599,000

3,891 sqft

Three fully occupied units built in 2023, each with private driveway access and backyard space.

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Newly Built Five-Plex Apartment Building

5333-5345 Cherry Street, Panama City, FL 32404

$1,575,000

8,385 sqft

2025-built five-plex is fully occupied with long-term tenants and attached 1-car garages for each unit.

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Duplex with Remodeled Units

Panama City, FL 32401

$249,000

1,204 sqft 0.17 AC lot

Remodeled duplex with two 2-bedroom, 1-bath units, central air, electric heat, and a private outdoor storage shed for each unit.

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Panama City, FL Multifamily Properties Market Trends and Statistics

Explore 76 multifamily properties for sale in Panama City, FL, showcased through 76 active listings on our real estate platform. These investment opportunities span a total of 338,522 square feet of properties for sale, with an estimated market value of $94,943,213.

Sale prices for multifamily properties in Panama City, FL start at $90,000, averaging $1,460,664, and reaching up to $6,243,750 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Top Commercial Asset Segments

Commercial property segments ranked by active listings on the market

Demographics Overview

Population 154K

Population Growth (5Y) +1,132.7%

Median Household Income $71,237

College Educated 29.8%

High-Yield Neighborhoods for Investment

Identify Panama City submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
Rosemary Beach - 32461	$1.2M
Panama City - 32401	$1.6M

Taxes & Financing

Tax Rate (average for all types) 1.42%

Property Tax per SF $28.37 per SF

Tax Rate vs County Average 0.07 pp above county avg

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in Bay County

New Delisted

Total CRE Inventory on Market (SF)

Average Property Price per SF

For-sale pricing trends across core commercial property types in Bay County

Retail

Residential Income

Property Size Breakdown

The majority of commercial real estate listings in Panama City fall within the 50,000 to 100,000 square foot range.

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Panama City, FL Multifamily Properties for Sale

119 College Avenue, Panama City, FL 32401

119 College Avenue, Panama City, FL 32401

114 S Highway 22 A, Panama City, FL 32404

91 Milestone Dr #UNIT A, Inlet Beach, FL 32461

5237 Thomas Drive, Panama City, FL 32408

333 N Star Avenue, Panama City, FL 32404

2600 E 1st Plaza, Panama City, FL 32401

810 E 25th Street, Panama City, FL 32405

528 Kraft Avenue, Panama City, FL 32401

405 Massalina Drive, Panama City, FL 32401

3510 / 3536 Saint John St, Panama City, FL 32401

116 Springfield Avenue, Panama City, FL 32401

116 Springfield Avenue, Panama City, FL 32401

2600 E 1st Plaza, Panama City, FL 32401

6722 S Lagoon Drive, Panama City, FL 32408

5220 Beach Drive, Panama City, FL 32408

6722 S Lagoon Dr, Panama City, FL 32408

147/ 149 Claire Avenue, Panama City, FL 32401

520 Maine Ave, Panama City, FL 32401

4113 Holiday Drive, Panama City, FL 32408

116 Springfield Ave, Panama City, FL 32401

726 Detroit Avenue, Panama City, FL 32401

5333-5345 Cherry Street, Panama City, FL 32404

Panama City, FL 32401

Panama City, FL Multifamily Properties Market Trends and Statistics

Top Commercial Asset Segments

Demographics Overview

High-Yield Neighborhoods for Investment

Taxes & Financing

Listings Trend

Total CRE Inventory on Market (SF)

Average Property Price per SF

Retail

Residential Income

Property Size Breakdown

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