18916 Front Beach Rd Panama City Beach, FL 32413
- Residential income homes
- 2,700 SF
- 0.25 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 18916 Front Beach Rd
- Year built
- 2023
- Lot size
- 0.25 lot acres
- Property size
- 2,700 SF
- Property type
- Residential income homes
Description
This exceptional investment opportunity presents a remarkable chance to acquire a two-unit, Class A multifamily property located at 18916 Front Beach Rd, Panama City Beach, FL 32413. Boasting a substantial 2,700 square feet of living space across three stories, this 2023-built property sits on a generous 0.25-acre lot offering breathtaking Gulf views from every room. Currently configured as a single-family home, the property is primed for a value-add investment strategy, either as a flip or as a rental property. The asking price is $2,199,999, with a compelling 11.36% cap rate and a current Net Operating Income (NOI) of $250,000. The seller is motivated and offering a unique incentive: completion of the garage conversion into a first-floor master suite and bathroom, adding to the property's value. A quote for a pool installation is available, further enhancing the property's potential. Based on comparable properties, the completed property is projected to appraise for $2.4 million. The expansive backyard provides ample space for future development, such as a guest house, pool, or outdoor kitchen, adding significant value and rental income potential. This property represents a significant opportunity for substantial returns in a highly desirable beachfront location. The property is in distressed sale condition.
Value Estimation
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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 Beach
- County
- Bay
- State
- Florida
- Longitude
- -85.9186
- Latitude
- 30.2368
