2605 Redwood Street, Panama City Beach, FL 32408
$850,000
Property Type:
Commercial for Sale
Square Footage:
4,432
Lot Size (sq. ft.):
8,276
Status:
Active
Current Price:
$850,000
List Date:
2/11/2026
Last Modified:
4/03/2026
Listing Details MLS# 785104
Contract Info
- List Price/SqFt
- 191.79
- Sub-Type
- Multi-Family
Location
- Area
- 03 – Bay County – Beach
- Street #
- 2605
- Street Name
- Redwood
- Street Suffix
- Street
- State
- FL
- Zip Code
- 32408
- County
- Bay
- Sub Area
- 0319 – Beach – East
- Block
- 11
- Subdivision
- Treasure Cove
- Community/Resort
- None
- Waterfront
- No
- Parcel ID
- 31054-000-000
- Elementary School
- Patronis
- Middle School
- Surfside
- High School
- Arnold
- Directions
- Take US-98 west to Thomas Drive / Navy Blvd then turn right onto E Hibiscus Ave, then turn right onto Redwood Street, Duplex on the right side.
- Legal Description
- TREASURE COVE LOT 6 BLK 11 ORB 2074 P 941
General Property Info
- List Class
- Residential Income
- Construction Status
- Construction Complete
- Site Dimensions
- 32 X 34
- Acreage
- 0.19
- SqFt Tot Bldg
- 4432
- Year Built
- 1978
Income Producing
- Year Built
- 1978
- Building SqFt
- 4432
- Price P/SqFt
- 227.89
- Annual Gross Income
- 76000
- Expenses
- 6000
Multi-Family
- Year Built
- 1978
- Building SqFt
- 4432
- # of Units
- 4
- Price P/SqFt
- 227.89
- Gross Rent Multplr
- 13
- Actual Gross Income
- 76000
- Expenses
- 6000
- Net Operating Income
- 70000
- Cap Rate
- 7
- Vacancy Rate
- 0
More Information
Listing Info, Tax and Legal
- HOA Fee
- No
Remarks & Misc
- Remarks
- Start 2026 with a strong, stabilized income property at 2605 Redwood Street, a well-maintained duplex consisting of two separate buildings, each featuring two apartments for a total of four units. This turnkey asset is fully leased and positioned to deliver immediate and reliable cash flow. The property offers a desirable unit mix of spacious 3-bedroom and 2-bedroom apartments, each with 1-1/2 bathroom. All apartments have been renovated, with new flooring throughout, new kitchen, and Energy saving appliances appealing to long-term tenants and supporting consistent occupancy. Recent capital improvements significantly enhance the property's value and reduce near-term maintenance, A/C unit is less than 4 years old, the roof was replaced in 2019, part of the siding on each building has been replaced, a newly installed septic tank. The combination of strong in-place income, recent upgrades, and minimal deferred maintenance makes this an ideal acquisition for investors seeking stable returns with limited operational risk. Whether you're expanding an existing portfolio or entering the multifamily market, 2605 Redwood Street represents a compelling opportunity to secure a high-performing asset in the new year. No signs on the property, please do not disturb tenants.
Construction/Siding
- Block
- Yes
- Concrete
- Yes
- Roof – Composite Shngl
- Yes
- Siding – Vinyl
- Yes
Present Zoning
- City
- Yes
Utilities
- All Utilities
- Yes
- Community Water
- Yes
- Electricity – Connected
- Yes
- Internet – Broadband Available
- Yes
- Water Connected
- Yes
- Septic Tank
- Yes
Sale Type
- As Is
- Yes
Floors in Unit/Home
- Two
- Yes
Heating/Cooling
- AC – Central
- Yes
- AC – HVAC
- Yes
Offering Type
- Real Estate
- Yes
Transport. Access
- Paved
- Yes
Property Features
Offering Type:
Real Estate
Sale Type:
As Is
Utilities:
All Utilities; Community Water; Electricity – Connected; Internet – Broadband Available; Water Connected; Septic Tank
Listing Office:
Coldwell Banker Realty
Last Updated: April – 03 – 2026
Information deemed reliable but not guaranteed.