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240 Harmon Avenue, Panama City, FL 32401

$6,197,500
Property Type: Comm/Industry Baths: 34 Square Footage: 29,796 Status: Active
Current Price: $6,197,500 Last Modified: 12/05/2025

Description

This exceptional 34-unit waterfront community, complete with a 22-slip marina, is now offered at a newly adjusted price, creating an even stronger value proposition for investors. In addition to its comprehensive renovations and prime waterfront amenities, the property includes an income-generating on-site laundry facility and a low-maintenance marina that produces steady revenue, further strengthening the asset's operational performance. With 22 units fully renovated down to the studs in 2020, upgraded mechanicals, new roofs, contemporary interiors, and a history of consistently high occupancy, this community offers both stability and long-term growth potential.

Supplements: Positioned within the heart of Downtown Panama City's ongoing revitalizationfeaturing upgraded streetscapes, improved walkability, and renewed waterfront developmentthis asset remains one of the most compelling opportunities in the market. The pricing adjustment simply aligns the offering with current investor activity and enhances the property's already strong return profile.

More Information MLS# RX-11076691

Contract Information

Auction: No List Price/Bldg SqFt: 208 Status: Active Original List Price: 6700000 List Price: $6,197,500 Current Price: $6,197,500 Listing Date: 2025-03-31

General Property Description

For Sale: Yes For Lease: No Property Desc: Multi Fam Acres: 1.05 Waterfront: Yes SqFt Source: Owner # of Stories: 2 Total Units: 34 % Air Conditioned: 100 Type: MultiFamily (5+ Units) Subdivision: DAVIS PLAT Year Built: 1966 SqFt - Living: 29796 Baths - Total: 34

Location, Tax & Legal

Geo Area: Other Geographic Area Country: United States State/Province: FL Tax Year: 2024 Zoning: PC05 Real Estate Taxes: 39860.9 Area: 5940 County: Bay Parcel ID: 20213000000 Street #: 240 Street Name: Harmon Street Suffix: Avenue Zip Code: 32401 Legal Desc: DAVIS PLAT LOTS 1,2,3 & PACL LYING BETWEEN LOT 1 & MASSELINA BAYOU. BLK 5 ORB 4148 P 69 AND PART OF VACATED BLUFF ST R/W Geo Lat: 30.150442 Geo Lon: -85.656789

Remarks & Misc

Directions: Take Beach Drive south to E 2nd Court and turn left. Turn left on Harmon Ave and building will be on the right.

Office/Member Info

DXORIGMLNO: RX-11076691 DXORIGMLSID: RML

Type of Building

Marina: 1 Resident. Multi-Fam.: 1

Sale Includes

Building and Land: 1 License: 1

Avail Info

Full Financials: 1

Avail Docs

None: 1

Waterfront Details

Ocean Access: 1

Cooling

Electric: 1

Heating

Electric: 1

Tenant Pays

Electric: 1

Use

Income: 1

Flooring

Other: 1

Utilities

Cable: 1 Electric: 1 Public Sewer: 1 Public Water: 1

Fire Protect

Sprinkler: 1

Roof

Other: 1

Terms Considered

Assumable-Qualify: 1 Cash: 1 Conventional: 1

Possession

At Closing: 1 Funding: 1

Lease

Long Term: 1

Property Features

Use: Income Type of Building: Marina; Resident. Multi-Fam. Sale Includes: Building and Land; License Avail Docs: None Avail Info: Full Financials Flooring: Other Cooling: Electric Heating: Electric Fire Protect: Sprinkler Tenant Pays: Electric Utilities: Cable; Electric; Public Sewer; Public Water Waterfront Details: Ocean Access Roof: Other Terms Considered: Assumable-Qualify; Cash; Conventional Lease: Long Term Possession: At Closing; Funding
Listing Office: Luxe Coastal Realty Group LLC
IDX
Last Updated: December - 05 - 2025
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