1000 Transmitter Rd Panama City, FL 32404
Property profile & analytics
Location Intelligence
Current Use by Public Records
- Apartment buildings
Property Details for 1000 Transmitter Rd
- Year built
- 1987
- Property type
- Apartment buildings
- Property subtype
- Small apartment buildings
Description
This exceptional investment opportunity presents a ten-unit apartment building located at 1000 Transmitter Road, Panama City, Florida, 32404. The property, built in 1987, is a two-story structure situated on a spacious 15,681.6 square foot lot. Each of the ten units boasts 830 square feet, featuring two bedrooms and one bathroom. All units have undergone extensive renovations, including full-sized kitchens, washer and dryer hookups, and separate metering for utilities. Significant upgrades include a new roof (2019), updated water heaters (2020), and HVAC systems (2020, excluding condensers). Further improvements encompass a new deck, updated sewer lines, and rewiring. The property also features a recently refurbished parking lot providing ample tenant parking. All units are approved for Section 8 rentals at a rate of $1300 per unit. Panama City's robust economic growth, fueled by a 12.27% population increase since 2020 and a 3.93% annual growth rate, coupled with a $3.4 billion investment in Tyndall Air Force Base, creates a strong demand for rental housing. The city's average household income of $70,585 further supports the property's investment potential. This property offers a compelling combination of renovated units, strong rental income, and a location within a rapidly growing and economically resilient community. The asking price is $1,450,000.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Panama City
- County
- Bay
- State
- Florida
- Longitude
- -85.4994
- Latitude
- 30.1974
