SQUARE FEET33,060
MLS#R11145658
STATUSActive
PROPERTY TYPECommercial - Business
Property Description
This 50-unit garden-style community delivers strong fundamentals and consistent performance, supported by a diverse unit mix of 8 one-bed, 20 two-bed, 12 three-bed, and 10 four-bed units. With 42 units renovated since 2020-featuring updated flooring, fresh paint, windows, and fixtures-the property offers modern appeal and reduced turnover risk. Additional income is generated through an on-site laundry facility, and a separate office building with storage provides valuable operational flexibility. Major capital improvements include new metal roofs, upgraded electrical panels, and multiple HVAC and water-heater replacements, minimizing near-term CapEx exposure. Steady occupancy and an assumable $4.57M, 3.75% fixed-rate non-recourse loan enhance the investment's strength in today's lending environment. Positioned near major retailers, schools, employment centers, and within minutes of Panama City Beach, the property sits in a high-demand rental corridor with long-term growth potential. A recent price adjustment further improves the opportunity for investors seeking stability and upside.
Property Features
Property Type: Commercial - Business
Cooling: Wall/Window Unit(s)
Heating: Electric
Lot Size: 2.80 Acres
Roof Type: Metal
Stories: 2.0
Taxes: $18,237
Year Built: 1970
Feature Descriptions
Building Features: Free Standing
Days on Site: 132
Parcel#: 23388000000 & 23389000000
Security: Fire Sprinkler System
Sewer: Public Sewer
Units: 50
Utilities: Cable Available
Utilities: Cable Available
Water: Public
Listed By / Shown By
Listed By
Agency Name: Luxe Coastal Realty Group LLC
Agency Phone: 848-220-5555
Shown By
Agency Title: RealtyMark
Agency Phone: 888-240-0600
3510/ 3536 Saint John Street | MLS# R11145658
This commercial property located at 3510/ 3536 Saint John Street, Panama City, FL 32401 is currently listed for sale with an asking price of $6,243,750. Search Panama City real estate on www.realtymarkllc.com today.