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
Last Updated: December - 05 - 2025
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. Copyright 2024 Beaches Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.
