116 Springfield Avenue, Panama City, FL 32401
$608,000
Property Type:
Commercial for Sale
Square Footage:
2,907
Lot Size (sq. ft.):
13,504
Status:
Active
Current Price:
$608,000
List Date:
5/30/2026
Last Modified:
5/30/2026
Listing Details MLS# 790575
Contract Info
- List Price/SqFt
- 209.15
- Sub-Type
- Multi-Family
Location
- Area
- 02 – Bay County – Central
- Street #
- 116
- Street Name
- Springfield
- Street Suffix
- Avenue
- State
- FL
- Zip Code
- 32401
- County
- Bay
- Sub Area
- 0202 – Bay – Central SE
- Subdivision
- No Named Subdivision
- Community/Resort
- None
- Waterfront
- No
- Parcel ID
- 24226-000-000
- Elementary School
- Cherry Street
- Middle School
- Everitt
- High School
- Rutherford
- Directions
- From Bay Medical Center, head south on North Bonita Ave. Turn left on Bus-US 98. Take a right onto Everitt Ave., left on E First Court. Proceed to Second Street and take a left onto Springfield Ave. The property will be on the corner lot on the right.
- Legal Description
- N MOORETOWN (1.15) LOTS 1,2 BLK 9 ORB 4686 P 914
General Property Info
- List Class
- Residential Income
- Construction Status
- Construction Complete
- # of Units
- 6
- Site Dimensions
- 154x100x154x101
- Acreage
- 0.31
- SqFt Tot Bldg
- 2907
- Year Built
- 1952
Multi-Family
- # of Units
- 6
- Actual Gross Income
- 63900
Listing Info, Tax and Legal
- HOA Fee
- No
More Information
Remarks & Misc
- Remarks
- Welcome to a turnkey income-producing investment opportunity designed for ease, efficiency, and long-term value. Remodeled in 2021, this unique property features six detached single-family units, each offering one bedroom, one spacious bathroom, a comfortable living area, with a functional kitchen. Fully occupied and currently generating $63,900 in annual gross rental income, this property offers immediate cash flow with rent rolls available for review. Each unit was thoughtfully updated in 2021 with major improvements including 30-year dimensional shingle roofs, energy-efficient windows, updated electrical wiring, fresh sheetrock, interior paint, luxury vinyl plank flooring, new kitchen cabinetry, and updated countertops. For streamlined management, each unit is individually metered for both water and electricity, helping simplify operations and reduce owner responsibility. With six separate dwellings, modernized systems, and established rental income already in place, this property is a strong addition to any investment portfolio. Whether you are looking to expand your rental holdings, secure consistent income, or invest in a low-maintenance multi-unit property, this turnkey opportunity is ready to perform from day one. Buyer to confirm measurements. Some photos edited and staged
Construction/Siding
- Block
- Yes
- Foundation – Slab on Grade
- Yes
- Roof – Composite Shngl
- Yes
- Trim – Vinyl
- Yes
Energy
- AC – Window/Wall
- Yes
Financing
- Cash
- Yes
- Conventional
- Yes
Present Zoning
- Resid Multi-Family
- Yes
Utilities
- Electricity – Connected
- Yes
Business/Property
- Furnished – None
- Yes
Floors in Unit/Home
- One
- Yes
Heating/Cooling
- AC – Window Unit(s)
- Yes
Property Features
Energy:
AC – Window/Wall
Financing:
Cash; Conventional
Present Zoning:
Resid Multi-Family
Utilities:
Electricity – Connected
Listing Office:
Beachy Beach Real Estate
Last Updated: May – 30 – 2026
Information deemed reliable but not guaranteed.