209 Sherman Avenue, Panama City, FL 32401 (MLS# 795519)

209 Sherman Avenue, Panama City, FL 32401

New Listing

$275,000

Property Type: Residential Bedrooms: 4 Baths: 4 Square Footage: 1,920 Lot Size (sq. ft.): 10,019 Status: Active

Current Price: $275,000 List Date: 9/17/2026 Last Modified: 9/17/2026

Overview

Description

INVESTMENT OPPORTUNITY — FOUR FULLY OCCUPIED RENTAL UNITS! 209 Sherman Ave features four currently occupied apartment units, generating $750 per unit per month, or $3,000 in gross monthly rental income / $36,000 annually. Each unit is individually metered. Owner-reported utilities average approximately $250/month. Property taxes are approximately $2,500 annually. The property consists of two buildings on approximately 0.23 acres with off-street parking. Built in 1947, the property offers an established rental setup with four income-producing units in a convenient Panama City location. Strong opportunity for an investor seeking existing rental income and an occupied multifamily property. Buyer to verify all unit count, square footage, room dimensions, rental income, expenses, utility arrangements, taxes, insurance, zoning, permits, property condition and all other information deemed important by buyer.

Listing Details MLS# 795519

Contract Info

List Price/SqFt: 143.23

Location

Area: 02 – Bay County – Central
Street #: 209
Street Name: Sherman
Street Suffix: Avenue
State: FL
Zip Code: 32401
County: Bay
Sub Area: 0202 – Bay – Central SE
Subdivision: [No Recorded Subdiv]
Community/Resort: None
Waterfront: No
Parcel ID: 22427-000-000
Elementary School: Cherry Street
Middle School: Jinks
High School: Bay
Directions: Traveling East on Hwy 98, make a right on Sherman Ave. Travel approximately half a mile and the property will be on the Right.
Legal Description: OLD MILL ADD LOT 13 LESS N 7' BLK 4 ORB 3864 P 835

General Property Info

Sub-Type: Duplex Multi-Units
Design: Duplex
Apx SqFt(Htd/Cooled): 1920
SqFt Source: Prop App Site
Full Baths: 4
Total Baths: 4
Accessory Dwelling Unit: No
Year Built: 1947
Construction Status: Construction Complete
New Construction: No
Garage Y/N: No
Lot Dimensions: 73.0 ft x 139.0 ft
Acreage: 0.23
Lot Size (SqFt): 10019
Pool: No

Listing Info, Tax and Legal

HOA Fee: No
New Buyer Fee: No
Last Taxes: 2835.1
Last Tax Year: 2025
Brokerage Interest: No Interest

Remarks & Misc

Remarks: INVESTMENT OPPORTUNITY — FOUR FULLY OCCUPIED RENTAL UNITS! 209 Sherman Ave features four currently occupied apartment units, generating $750 per unit per month, or $3,000 in gross monthly rental income / $36,000 annually. Each unit is individually metered. Owner-reported utilities average approximately $250/month. Property taxes are approximately $2,500 annually. The property consists of two buildings on approximately 0.23 acres with off-street parking. Built in 1947, the property offers an established rental setup with four income-producing units in a convenient Panama City location. Strong opportunity for an investor seeking existing rental income and an occupied multifamily property. Buyer to verify all unit count, square footage, room dimensions, rental income, expenses, utility arrangements, taxes, insurance, zoning, permits, property condition and all other information deemed important by buyer.

Appliances

Water Heater – Electric: Yes

More Information

Interior Features

Floor – Tile: Yes

Construction/Siding

Block: Yes
Foundation – Slab on Grade: Yes
Roof – Metal: Yes

Financing

Cash: Yes
Conventional: Yes

Furnished

Unfurnished: Yes

Lot Features

Within 1/2 Mile to Water: Yes

Rooms

Separate Apartment: Yes

Showing

ShowingTime: Yes

Utilities

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

Cooling

Window Unit(s): Yes

Property Features

Appliances: Water Heater – Electric Cooling: Window Unit(s) Financing: Cash; Conventional Furnished: Unfurnished Lot Features: Within 1/2 Mile to Water Rooms: Separate Apartment Showing: ShowingTime Utilities: Electricity – Connected; Public Sewer – Connected; Public Water – Connected

Room Information

Room Name	Dimensions	Length	Width
Separate Apartment	20 x 24	20.00	24.00
Separate Apartment	20 x 24	20.00	24.00
Separate Apartment	20 x 24	20.00	24.00
Separate Apartment	20 x 24	20.00	24.00

Listing Office: eXp Realty, LLC

Last Updated: September – 17 – 2026

Information deemed reliable but not guaranteed.