8320 Surf Dr Panama City Beach, FL 32408
- Commercial real estate
- 4,515 SF
Current Use by Public Records
- Commercial real estate
Property Details for 8320 Surf Dr
- Property size
- 4,515 SF
- Property type
- Commercial real estate
Description
This exceptional four-story mixed-use property at 8320 Surf Dr, Panama City Beach, FL 32408, presents a lucrative investment opportunity. Boasting 4,515 square feet of net rentable space, this newly constructed seven-bedroom, nine-bathroom home is ideally situated directly across from beach access in the heart of the tourist district. Currently operating as a highly successful vacation rental, it commands a compelling asking price of $2,695,000, translating to $596.90 per square foot. The property enjoys an impressive 80% occupancy rate, generating a substantial Net Operating Income (NOI) of $260,000 and a 9.65% capitalization rate. Summer bookings alone already exceed $100,000, and projected annual rental income is $275,000, indicating significant growth potential as the property establishes itself within the vacation rental market. The property sits on a 5,500 square foot lot and includes an additional 5,500 square feet of air rights, offering considerable future development possibilities. This turnkey investment is poised for continued success, offering a strong return on investment in a prime beachfront location.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Panama City Beach
- County
- Bay
- State
- Florida
- Longitude
- -85.785455
- Latitude
- 30.1641297
