3510/ 3536 Saint John Street, Panama City, FL 32401
$6,200,000
Property Type:
Commercial for Sale
Square Footage:
33,060
Lot Size (sq. ft.):
121,968
Status:
Active
Current Price:
$6,200,000
List Date:
12/05/2025
Last Modified:
8/05/2026
Listing Details MLS# 782381
Contract Info
- List Price/SqFt
- 187.54
- Sub-Type
- Multi-Family
Location
- Area
- 02 – Bay County – Central
- Street #
- 3510/ 3536
- Street Name
- Saint John
- Street Suffix
- Street
- State
- FL
- Zip Code
- 32401
- County
- Bay
- Sub Area
- 0202 – Bay – Central SE
- Subdivision
- [No Recorded Subdiv]
- Community/Resort
- None
- Waterfront
- No
- Parcel ID
- 23388-000-000 & 23389-000-000
- Elementary School
- Cherry Street
- Middle School
- Everitt
- High School
- Rutherford
- Directions
- Follow US-98 E and US-98 BUS E to E 2nd St in Springfield. Take Kilbourn Ave to St John St. This property sits on 2 separate parcels separated by a small SFH.
- Legal Description
- 11 4S 14W -366.4- 118C4 BEG 787' N & 500' W OF SE COR OF SW1/4 OF SE1/4 TH W 285' S 256' E 285' N 256' TO POB ORB 4161 P 1823
General Property Info
- List Class
- Apartment
- Construction Status
- Construction Complete
- Acreage
- 2.8
- SqFt Tot Bldg
- 33060
- Year Built
- 1970
Multi-Family
- # of Units
- 50
Listing Info, Tax and Legal
- HOA Fee
- No
More Information
Remarks & Misc
- Remarks
- PRICE IMPROVEMENT – NOW OFFERED AT $6.2 MILLION. This stabilized 50-unit garden-style apartment community presents an exceptional opportunity to acquire a well-maintained, income-producing asset with significant recent capital improvements and long-term upside. The property features a highly desirable unit mix of 8 one-bedroom, 20 two-bedroom, 12 three-bedroom, and 10 four-bedroom apartments, with 42 units renovated since 2020, showcasing updated flooring, fresh paint, windows, and modern fixtures. Ownership has invested heavily in the property's infrastructure, including new metal roofs, upgraded electrical panels, and numerous HVAC and water heater replacements, minimizing near-term capital expenditures. Additional revenue is generated through an on-site laundry facility, while a separate office building with storage provides efficient on-site management and operational support. The community maintains consistently strong occupancy and is further enhanced by an assumable $4.57 million fixed-rate, 3.75% non-recourse loan (subject to lender approval), providing a significant financing advantage in today's interest rate environment. Ideally located near major employers, schools, shopping, dining, and just minutes from Panama City Beach, the property benefits from strong rental demand in one of Northwest Florida's fastest-growing markets. Now priced at $6.2 million, this is a compelling opportunity for investors seeking immediate cash flow, operational stability, favorable financing, and future growth potential.
Other Structures
- Outbuilding
- Yes
- Storage
- Yes
Financing
- Other – See Remarks
- Yes
Association Amenities
- Laundry
- Yes
Sale Type
- As Is
- Yes
Floors in Unit/Home
- Two
- Yes
Property Features
Financing:
Other – See Remarks
Other Structures:
Outbuilding; Storage
Sale Type:
As Is
Listing Office:
Luxe Coastal Realty Group LLC
Last Updated: August – 05 – 2026
Information deemed reliable but not guaranteed.