2729 Carol Lane, Panama City, FL 32405

$1,575,000
Property Type: Residential Bedrooms: 16 Baths: 16 Square Footage: 7,240 Status: Pending
Current Price: $1,575,000 List Date: 12/11/2025 Last Modified: 2/23/2026

Description

Introducing a rare opportunity to expand your portfolio with a brand-new construction featuring four duplexes, totaling eight meticulously designed units. Each 905-sq.-ft. unit offers two bedrooms and two bathrooms, delivering modern living spaces tailored for both long-term and short-term rental flexibility. Thoughtfully crafted for comfort and style, these units feature premium finishes, including sleek quartz countertops and soft-close drawers and doors in the kitchen and bathrooms. Brand-new appliances add to the property’s appeal, ensuring a low-maintenance investment for years to come. Strategically situated just 1.5 miles from popular destinations like Target, Starbucks, and the vibrant shopping and dining options on Highway 77 and 23rd Street, this property offers unparalleled convenience for tenants. Additionally, its proximity to schools and hospitals further enhances its desirability. Currently, seven of the eight units are rented long-term, providing immediate cash flow, while the flexibility to utilize short-term rentals offers additional income potential. This turnkey investment is ideal for savvy investors looking to secure a high-demand property in a prime location with excellent growth potential. With its exceptional quality, strategic location, and rental versatility, this investment promises long-term stability and value. Seize this opportunity to add a modern, income-generating property to your portfolio.

More Information MLS# 766313

Listing Info, Tax and Legal

HOA Fee: No New Buyer Fee: No Last Taxes: 848 Last Tax Year: 2023 Brokerage Interest: Familial Interest – Listing Broker/Licensee related to owner.

Contract Info

List Price/SqFt: 217.54 Status: Pending List Date: 2024-12-18 List Price: $1,575,000 Current Price: $1,575,000

Location

Sub Area: 0201 – Bay – Central NE Community/Resort: None Waterfront: No Elementary School: Hiland Park Middle School: Mowat High School: Bay Directions: Follow W 33rd Street to Frankford Ave. Take Baldwin Road and turn right on Canal Ave. Then continue and it is on the right. 2728-2741 Area: 02 – Bay County – Central Street #: 2729 Street Name: Carol Street Suffix: Lane State: FL Zip Code: 32405 County: Bay Subdivision: Highland City Parcel ID: 12629-036-010 Legal Description: HIGHLAND CITY (7.03) BEG 348.14′ E OF NW COR LOT 8 TH E 91.41′ S 180′ W 89.28′ N 179.98′ TO POB BLK 29 ORB 4696 P 1242

General Property Info

Design: Duplex Apx SqFt(Htd/Cooled): 7240 Construction Status: Construction Complete SqFt Source: Builders Plans Lot Dimensions: 182X360 New Construction: Yes Garage Y/N: No Driveway Spaces: 16 Pool: No Sub-Type: Duplex Multi-Units Bedrooms: 16 Full Baths: 16 Total Baths: 16 Year Built: 2024

Remarks & Misc

Remarks: Introducing a rare opportunity to expand your portfolio with a brand-new construction featuring four duplexes, totaling eight meticulously designed units. Each 905-sq.-ft. unit offers two bedrooms and two bathrooms, delivering modern living spaces tailored for both long-term and short-term rental flexibility. Thoughtfully crafted for comfort and style, these units feature premium finishes, including sleek quartz countertops and soft-close drawers and doors in the kitchen and bathrooms. Brand-new appliances add to the property’s appeal, ensuring a low-maintenance investment for years to come. Strategically situated just 1.5 miles from popular destinations like Target, Starbucks, and the vibrant shopping and dining options on Highway 77 and 23rd Street, this property offers unparalleled convenience for tenants. Additionally, its proximity to schools and hospitals further enhances its desirability. Currently, seven of the eight units are rented long-term, providing immediate cash flow, while the flexibility to utilize short-term rentals offers additional income potential. This turnkey investment is ideal for savvy investors looking to secure a high-demand property in a prime location with excellent growth potential. With its exceptional quality, strategic location, and rental versatility, this investment promises long-term stability and value. Seize this opportunity to add a modern, income-generating property to your portfolio.

Appliances

Cooktop – Electric: 1 Dishwasher: 1 Disposal: 1 Microwave: 1 Oven – Electric: 1 Refrigerator: 1 Water Heater – Electric: 1

Construction/Siding

Roof – Dimensional Shg: 1 Siding – Vinyl: 1

Financing

Cash: 1 Conventional: 1

Furnished

Unfurnished: 1

Lot Access

City Street: 1

Present Zoning

Resid Multi-Family: 1

Rooms

Bedroom: 1

Utilities

Cable – Available: 1 Electricity – Connected: 1

Sale Type

As Is: 1

Bedroom

First: 1

Cooling

Central Air: 1

Heating

Central: 1

Status Change Info

Under Contract Date: 2026-02-20

Property Features

Appliances: Cooktop – Electric; Dishwasher; Disposal; Microwave; Oven – Electric; Refrigerator; Water Heater – Electric Bedroom: First Cooling: Central Air Heating: Central Financing: Cash; Conventional Furnished: Unfurnished Lot Access: City Street Rooms: Bedroom Sale Type: As Is Utilities: Cable – Available; Electricity – Connected Present Zoning: Resid Multi-Family

Room Information

Bedroom Level: First Dimensions: 12.2 x 10.2 Length: 12.20 Width: 10.20 Dimensions: 12.2 x 10.2 Bedroom Level: First Dimensions: 13.2 x 11 Length: 13.20 Width: 11.00 Dimensions: 13.2 x 11 Bedroom Level: First Dimensions: 12.2 x 10.2 Length: 12.20 Width: 10.20 Dimensions: 12.2 x 10.2 Bedroom Level: First Dimensions: 13.2 x 11 Length: 13.20 Width: 11.00 Dimensions: 13.2 x 11 Bedroom Level: First Dimensions: 12.2 x 10.2 Length: 12.20 Width: 10.20 Dimensions: 12.2 x 10.2 Bedroom Level: First Dimensions: 12.2 x 10.2 Length: 12.20 Width: 10.20 Dimensions: 12.2 x 10.2 Bedroom Level: First Dimensions: 13.2 x 11 Length: 13.20 Width: 11.00 Dimensions: 13.2 x 11 Bedroom Level: First Dimensions: 13.2 x 11 Length: 13.20 Width: 11.00 Dimensions: 13.2 x 11 Bedroom Level: First Dimensions: 12.2 x 10.2 Length: 12.20 Width: 10.20 Dimensions: 12.2 x 10.2 Bedroom Level: First Dimensions: 13.2 x 11 Length: 13.20 Width: 11.00 Dimensions: 13.2 x 11 Bedroom Level: First Dimensions: 12.2 x 102 Length: 12.20 Width: 102.00 Dimensions: 12.2 x 102 Bedroom Level: First Dimensions: 13.2 x 11 Length: 13.20 Width: 11.00 Dimensions: 13.2 x 11 Bedroom Level: First Dimensions: 12.2 x 10.2 Length: 12.20 Width: 10.20 Dimensions: 12.2 x 10.2 Bedroom Level: First Dimensions: 13.2 x 11 Length: 13.20 Width: 11.00 Dimensions: 13.2 x 11 Bedroom Level: First Dimensions: 12.2 x 10.2 Length: 12.20 Width: 10.20 Dimensions: 12.2 x 10.2 Bedroom Level: First Dimensions: 13.2 x 11 Length: 13.20 Width: 11.00 Dimensions: 13.2 x 11
Listing Office: Scenic Sotheby's International Realty
Last Updated: February – 23 – 2026
Information deemed reliable but not guaranteed.