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240 Harmon Avenue, Panama City, FL 32401

$6,197,500
Property Type: Commercial for Sale Square Footage: 29,796 Lot Size (sq. ft.): 45,738 Status: Active
Current Price: $6,197,500 List Date: 12/05/2025 Last Modified: 12/08/2025

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 net 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. Positioned within the heart of Downtown Panama City's ongoing revitalization—featuring upgraded streetscapes, improved walkability, and renewed waterfront development—this 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# 782380

Contract Info

List Price/SqFt: 208 List Date: 2025-12-05 List Price: $6,197,500 Current Price: $6,197,500 Sub-Type: Multi-Family

Location

Sub Area: 0203 - Bay - Central SW Community/Resort: None Waterfront: Yes Elementary School: Cherry Street Middle School: Jinks High School: Bay Directions: Take Beach Drive south to E 2nd Court and turn left. Turn left on Harmon Ave and building will be on the right. Area: 02 - Bay County - Central Street #: 240 Street Name: Harmon Street Suffix: Avenue State: FL Zip Code: 32401 County: Bay Subdivision: [No Recorded Subdiv] Parcel ID: 20213-000-000 Legal Description: 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 . ORD# 2688 ORB 4163 P 171

General Property Info

List Class: Apartment Acreage: 1.05 Construction Status: Construction Complete # of Units: 34 SqFt Tot Bldg: 29796 Year Built: 1966

Listing Info, Tax and Legal

HOA Fee: No

Remarks & Misc

Remarks: 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 net 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. Positioned within the heart of Downtown Panama City's ongoing revitalization—featuring upgraded streetscapes, improved walkability, and renewed waterfront development—this 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.

Association Amenities

Marina: 1

Waterview

Bayou: 1

Sale Type

As Is: 1

Waterfront Type

Bayou w/ Gulf Access: 1

Floors in Unit/Home

Two: 1

Multi-Family

# of Units: 34

Status Change Info

Status: Active

Property Features

Sale Type: As Is Waterfront Type: Bayou w/ Gulf Access Waterview: Bayou
Listing Office: Luxe Coastal Realty Group LLC
Last Updated: December - 08 - 2025
Information deemed reliable but not guaranteed.