253 Deermont Street, Panama City Beach, FL 32413 (MLS# 791996)

253 Deermont Street, Panama City Beach, FL 32413

New Listing

$799,900

Property Type: Residential Bedrooms: 3 Baths: 2 Square Footage: 1,076 Lot Size (sq. ft.): 10,638 Status: Active

Current Price: $799,900 List Date: 6/29/2026 Last Modified: 6/29/2026

Overview

Description

ATTENTION 1031 EXCHANGE BUYERS, INVESTORS, DEVELOPERS, & DESIGN ENTHUSIASTS: This is not just a beach lot–it is an active, cash-flowing asset with massive structural equity and huge development upside. Located less than 400 feet from the sand in Panama City Beach proper (Miramar Heights) with protected, elevated Gulf views, this rare 0.24-acre double lot offers an immediate return on investment alongside future development flexibility. THE CASH FLOW & INVESTMENT: • Turnkey Revenue: Proven 4-year rental history averaging $3,425/month in gross income. • Immediate Income: Current reliable tenants are already in place, making this an ideal, seamless vehicle for 1031 exchange placement from day one. • The Layout: Set up as a highly functional, income-producing configuration featuring a 2BR/1BA main home plus a completely separate, private-entrance studio apartment with its own kitchen and full bath. THE ARCHITECTURAL VALUE: Forget cookie-cutter beach builds. The existing st … (Read more) ATTENTION 1031 EXCHANGE BUYERS, INVESTORS, DEVELOPERS, & DESIGN ENTHUSIASTS: This is not just a beach lot–it is an active, cash-flowing asset with massive structural equity and huge development upside. Located less than 400 feet from the sand in Panama City Beach proper (Miramar Heights) with protected, elevated Gulf views, this rare 0.24-acre double lot offers an immediate return on investment alongside future development flexibility. THE CASH FLOW & INVESTMENT: • Turnkey Revenue: Proven 4-year rental history averaging $3,425/month in gross income. • Immediate Income: Current reliable tenants are already in place, making this an ideal, seamless vehicle for 1031 exchange placement from day one. • The Layout: Set up as a highly functional, income-producing configuration featuring a 2BR/1BA main home plus a completely separate, private-entrance studio apartment with its own kitchen and full bath. THE ARCHITECTURAL VALUE: Forget cookie-cutter beach builds. The existing structure is a rare, mid-century modernist jewel built in the classic California Eichler style. It features stunning original terrazzo floors, striking tongue-and-groove cathedral wood ceilings, and timeless stucco construction. A preservationist’s dream beach retreat or a luxury hybrid rental space with unparalleled character. THE DEVELOPER / ASSEMBLAGE OPPORTUNITY: Zoned R-1c and situated entirely in a preferred Flood Zone X (no flood insurance required by Lender!). Because the structure sits on an oversized double lot, there is an opportunity to be subdivided into two premium buildable lots with Gulf views. Crucially, this property is surrounded on all sides by vacant lots, creating a rare and highly lucrative potential assemblage play for an investor looking to capture a massive, continuous footprint on the quiet west end of PCB. Whether you choose to collect the steady $3,400+/month check, restore a mid-century modernist masterpiece with a resort-style pool yard, or leverage the surrounding vacant parcels for a major development play, the ceiling on this property is incredibly high. Sold as-is. Do not disturb tenants. Buyers to verify all dimensions and zoning specs.

Listing Details MLS# 791996

Contract Info

List Price/SqFt: 743.4

Location

Area: 03 – Bay County – Beach
Street #: 253
Street Name: Deermont
Street Suffix: Street
State: FL
Zip Code: 32413
County: Bay
Sub Area: 0324 – Beach – West Central
Subdivision: Miramar Beach 1st
Community/Resort: None
Waterfront: No
Parcel ID: 38501-000-000
Elementary School: West Bay
Middle School: Surfside
High School: Arnold
Directions: From west end of Panama City Beach head East on Front Beach Rd to Laguna Beach, .5 mile past Thomas Donuts, turn left onto Deermont.
Legal Description: MIRAMAR BEACH 1ST ADD 21B1 LOTS 3 & 4 BLK 4 ORB 4523 P 618

General Property Info

Sub-Type: Detached Single Family
Design: Ranch
Apx SqFt(Htd/Cooled): 1076
SqFt Source: Prop App Site
Full Baths: 2
Total Baths: 2
Year Built: 1966
Construction Status: Construction Complete
New Construction: No
Garage Y/N: No
Lot Dimensions: 115 x 92.5
Acreage: 0.24
Lot Size (SqFt): 10638
Pool: No

Listing Info, Tax and Legal

HOA Fee: No
New Buyer Fee: No
Last Tax Year: 2025
Brokerage Interest: No Interest
As Is: Yes

Remarks & Misc

Remarks: ATTENTION 1031 EXCHANGE BUYERS, INVESTORS, DEVELOPERS, & DESIGN ENTHUSIASTS: This is not just a beach lot–it is an active, cash-flowing asset with massive structural equity and huge development upside. Located less than 400 feet from the sand in Panama City Beach proper (Miramar Heights) with protected, elevated Gulf views, this rare 0.24-acre double lot offers an immediate return on investment alongside future development flexibility. THE CASH FLOW & INVESTMENT: • Turnkey Revenue: Proven 4-year rental history averaging $3,425/month in gross income. • Immediate Income: Current reliable tenants are already in place, making this an ideal, seamless vehicle for 1031 exchange placement from day one. • The Layout: Set up as a highly functional, income-producing configuration featuring a 2BR/1BA main home plus a completely separate, private-entrance studio apartment with its own kitchen and full bath. THE ARCHITECTURAL VALUE: Forget cookie-cutter beach builds. The existing structure is a rare, mid-century modernist jewel built in the classic California Eichler style. It features stunning original terrazzo floors, striking tongue-and-groove cathedral wood ceilings, and timeless stucco construction. A preservationist's dream beach retreat or a luxury hybrid rental space with unparalleled character. THE DEVELOPER / ASSEMBLAGE OPPORTUNITY: Zoned R-1c and situated entirely in a preferred Flood Zone X (no flood insurance required by Lender!). Because the structure sits on an oversized double lot, there is an opportunity to be subdivided into two premium buildable lots with Gulf views. Crucially, this property is surrounded on all sides by vacant lots, creating a rare and highly lucrative potential assemblage play for an investor looking to capture a massive, continuous footprint on the quiet west end of PCB. Whether you choose to collect the steady $3,400+/month check, restore a mid-century modernist masterpiece with a resort-style pool yard, or leverage the surrounding vacant parcels for a major development play, the ceiling on this property is incredibly high. Sold as-is. Do not disturb tenants. Buyers to verify all dimensions and zoning specs.

Appliances

Range – Electric: Yes
Refrigerator: Yes

More Information

Construction/Siding

Foundation – Slab on Grade: Yes
Siding – Stucco: Yes
Trim – Wood: Yes

Exterior

Patio Open: Yes

Other Structures

Shed(s): Yes

Financing

Cash: Yes
Conventional: Yes

Furnished

Unfurnished: Yes

Living Room

First: Yes

Lot Features

Improved Lots: Yes
Near Beach Access: Yes
Within 1/2 Mile to Water: Yes

Lot Access

City Street: Yes

Present Zoning

City: Yes

Rooms

Bedroom: Yes
Living Room: Yes

Utilities

Electricity – Connected: Yes

Waterview

Gulf: Yes

Sale Type

As Is: Yes

Bedroom

First: Yes

Cooling

Ceiling Fan(s): Yes
Central Air: Yes

Primary Bath/Primary Bdrm

MBath Shower/Tub Combo: Yes

Property Features

Appliances: Range – Electric; Refrigerator Bedroom: First Cooling: Ceiling Fan(s); Central Air Exterior: Patio Open Financing: Cash; Conventional Furnished: Unfurnished Living Room: First Lot Features: Improved Lots; Near Beach Access; Within 1/2 Mile to Water Lot Access: City Street Other Structures: Shed(s) Rooms: Bedroom; Living Room Sale Type: As Is Utilities: Electricity – Connected Waterview: Gulf

Room Information

Room Name	Level	Dimensions	Length	Width
Bedroom	First	12 x 10	12.00	10.00
Living Room	First	14 x 16	14.00	16.00
Bedroom	First	12 x 10	12.00	10.00

Listing Office: Think Real Estate

Last Updated: June – 29 – 2026

Information deemed reliable but not guaranteed.