1300 Grace Avenue, Panama City, FL 32401 (MLS# 774652)

1300 Grace Avenue, Panama City, FL 32401

$1,000,000

Property Type: Commercial for Sale Square Footage: 8,652 Lot Size (sq. ft.): 13,939 Status: Sold

Current Price: $1,000,000 List Date: 6/09/2025 Last Modified: 9/04/2025

Overview

Description

Exceptional turn-key investment opportunity in the heart of Panama City near the growing downtown area. Boasting 10 large units consisting of eight 2/1s and two 1/1s this property stays full with an average rental rate of $1,195/month. Each unit is separately metered for electric and water. Landlord responsibilities are limited to grass, trash and maintenance. These units were completely renovated in 2019 after Hurricane Michael and are meticulously maintained offering low overhead for the next owner. Property is and has been professionally managed. Capture appreciation due to a growing market while you sit back and collect your cash flow. Panama City/Bay County MSA ranks 2nd nationally for percentage population growth per US Census Bureau. Contact listing agent today for more info.

Listing Details MLS# 774652

Contract Info

List Price/SqFt: 132.92
Sub-Type: Multi-Family

Location

Area: 02 – Bay County – Central
Street #: 1300
Street Name: Grace
Street Suffix: Avenue
State: FL
Zip Code: 32401
County: Bay
Sub Area: 0203 – Bay – Central SW
Subdivision: Segler
Community/Resort: None
Waterfront: No
Parcel ID: 18406-000-000
Elementary School: Northside
Middle School: Jinks
High School: Bay
Directions: Traveling north on Harrison Avenue, turn left on 13th Street, property is on the right on corner of 13th St and Grace Ave.
Legal Description: SEGLER SUBDIV LOTS 21, 22, 23, 24 ORB 320 P 537 BLK 8 ORB 3944 P 496 MAP 92A1

General Property Info

List Class: Commercial
Construction Status: Construction Complete
Acreage: 0.32
SqFt Tot Bldg: 8652
Year Built: 1986

Status Change Info

Under Contract Date: 2025-08-04
Sold Date: 2025-09-04
Sold Price/SqFt: 115.58
Sold Price/Acre: 3125000

Multi-Family

# of Units: 10
Actual Gross Income: 138996.67
Net Operating Income: 72995.77

Listing Info, Tax and Legal

HOA Fee: No

More Information

Remarks & Misc

Remarks: Exceptional turn-key investment opportunity in the heart of Panama City near the growing downtown area. Boasting 10 large units consisting of eight 2/1s and two 1/1s this property stays full with an average rental rate of $1,195/month. Each unit is separately metered for electric and water. Landlord responsibilities are limited to grass, trash and maintenance. These units were completely renovated in 2019 after Hurricane Michael and are meticulously maintained offering low overhead for the next owner. Property is and has been professionally managed. Capture appreciation due to a growing market while you sit back and collect your cash flow. Panama City/Bay County MSA ranks 2nd nationally for percentage population growth per US Census Bureau. Contact listing agent today for more info.

Financing

Cash: Yes
Conventional: Yes

Utilities

All Utilities: Yes
Electricity – Connected: Yes
Public Sewer – Connected: Yes
Water Connected: Yes

Floors in Unit/Home

One: Yes

Property Features

Financing: Cash; Conventional Utilities: All Utilities; Electricity – Connected; Public Sewer – Connected; Water Connected

Listing Office: CENTURY 21 Commander Realty

Last Updated: September – 04 – 2025

Information deemed reliable but not guaranteed.