4021 Dolphin Drive, Panama City, FL 32408
$1,350,000
Property Type:
Commercial for Sale
Square Footage:
3,569
Lot Size (sq. ft.):
16,553
Status:
Active
Current Price:
$1,350,000
List Date:
11/11/2025
Last Modified:
1/31/2026
Listing Details MLS# 781501
Contract Info
- List Price/SqFt
- 378.26
- Sub-Type
- Income Producing
Location
- Area
- 03 – Bay County – Beach
- Street #
- 4021
- Street Name
- Dolphin
- Street Suffix
- Drive
- State
- FL
- Zip Code
- 32408
- County
- Bay
- Sub Area
- 0323 – Beach – South of Grand Lagoon
- Subdivision
- Gulf Lagoon Beach
- Community/Resort
- None
- Waterfront
- No
- Parcel ID
- 32356-000-000
- Elementary School
- Patronis
- Middle School
- Surfside
- High School
- Arnold
- Directions
- From Thomas Drive, turn north on Dolphin Drive, property on corner of Dolphin and Beach Drive on the right.
- Legal Description
- GULF LAGOON BEACH LOT 8A REPLAT BLK 14 ORB 4389 P 1358 & GULF LAGOON BEACH LOTS 6A & 7A REPLAT BLK 14 ORB 4389 P 1358
General Property Info
- List Class
- Apartment
- Immediate Occupancy
- Yes
- Construction Status
- Construction Complete
- # of Units
- 5
- SqFt Unit
- 714
- Acreage
- 0.38
- SqFt Tot Bldg
- 3569
- Year Built
- 1993
Listing Info, Tax and Legal
- HOA Fee
- No
Remarks & Misc
- Remarks
- Premier opportunity to acquire a fully renovated, five-unit multifamily property ideally positioned just steps from the white-sand beaches of Panama City Beach. Dolphin Drive Beach Cottages features five spacious 1-bedroom, 1.5-bath units—each approximately 714 SF—with modern interiors, private balconies, and on-site covered parking. Currently operated as a short-term rental portfolio, the property offers a flexible investment profile suitable for Airbnb, mid-term, or long-term tenants. With professional property management in place, an investor can achieve stabilized returns while enjoying strong demand from beachgoers, snowbirds, and seasonal workers. The property is directly across from the luxury beachfront community of Hadley's Beach, adding long-term value and redevelopment potential into a similar luxury single-family or townhome development. The location combines residential charm and convenience—tucked in a quiet neighborhood with a rare public boat ramp, yet moments from St. Andrews State Park, Emerald Coast Beaches, and the vibrant dining and entertainment corridor along Thomas Drive. This is a rare chance to own a high-performing coastal multifamily asset with both income and redevelopment appeal. * Five turnkey 1BR/1.5BA units (~714 SF each) – modern interiors and private balconies * Airbnb-ready & STR-friendly zoning (R-3)- flexible for short-, mid-, or long-term rental strategies * Directly across from luxury community Hadley's Beach – premier location with future redevelopment upside * Prime beach-adjacent location – steps from the Gulf and minutes to St. Andrews State Park * Fully furnished & operational – ready for immediate cash flow or repositioning
More Information
Construction/Siding
- Foundation – On Piling
- Yes
Energy
- AC – 2 or More
- Yes
Financing
- Cash
- Yes
- Conventional
- Yes
Present Zoning
- County
- Yes
- Resid Multi-Family
- Yes
Association Amenities
- Dumpster
- Yes
Utilities
- All Utilities
- Yes
Waterview
- Gulf
- Yes
Sale Type
- As Is
- Yes
Business/Property
- Freestanding Building
- Yes
Floors in Unit/Home
- Two
- Yes
Heating/Cooling
- AC – Central
- Yes
Pricing Type
- Sale Price
- Yes
Site Description
- Corner Location
- Yes
Transport. Access
- 2-Lane
- Yes
Property Features
Energy:
AC – 2 or More
Financing:
Cash; Conventional
Pricing Type:
Sale Price
Present Zoning:
County; Resid Multi-Family
Sale Type:
As Is
Site Description:
Corner Location
Utilities:
All Utilities
Waterview:
Gulf
Listing Office:
Coldwell Banker Realty
Last Updated: January – 31 – 2026
Information deemed reliable but not guaranteed.