Address
209 Sherman Avenue, Panama City, FL
Price
$ 275,000
Property Attributes
- MLS#1012259
- TypeSingle Family
- Listing Status Active
- CountyBay
- CityPanama City
- AreaBay County
- NeighborhoodNo Recored Sub
- Zip32401
- StyleDuplex
- Year Built1947
- Taxes$ 2835
- Price$ 275,000
- Bedrooms4
- Full Bathrooms4
- Half Bathrooms0
- Sqr Footage1920
Data Source:
Emerald Coast MLS (ECAR)
Property Description
INVESTMENT OPPORTUNITY -- FOUR FULLY OCCUPIED RENTAL UNITS! 209 Sherman Ave features four currently occupied apartment units, generating $750 per unit per month, or $3,000 in gross monthly rental income / $36,000 annually. Each unit is individually metered. Owner-reported utilities average approximately $250/month. Property taxes are approximately $2,500 annually. The property consists of two buildings on approximately 0.23 acres with off-street parking. Built in 1947, the property offers an established rental setup with four income-producing units in a convenient Panama City location. Strong opportunity for an investor seeking existing rental income and an occupied multifamily property. Buyer to verify all unit count, square footage, room dimensions, rental income, expenses, utility arrangements, taxes, insurance, zoning, permits, property condition and all other information deemed important by buyer.
| Elementary School | Middle School | High School |
|---|---|---|
| Cherry Street Elementary School | Jinks Middle School | Bay High School |
| Price History | |
|---|---|
| 9/18/2026 | Listed $275,000 |
General Features
| Utilities | Electric,Public Water |
|---|---|
| Property Subtype | Duplex - All Units |
| County | Bay |
| Property Type | Residential |
| Subdivision Name | No Recored Sub |
| Status | Active |
| Buyer Financing | Conventional |
| Directions | Traveling East on Hwy 98, make a right on Sherman Ave. Travel approximately half a mile and the property will be on the Right. |
| High School | Bay |
| City | Panama City |
| MLS Area | 27 - Bay County |
| Lot Size Units | Acres |
| Elementary School | Cherry Street |
| Middle/Junior High School | Jinks |
| MLS Area Minor | 2702 - Bay - Central SE |
| Standard Status | Active |
| Sewer | Public Sewer |
| Cooling | Wall/Window Unit(s) |
| Architectural Style | Duplex |
| Construction Materials | Block |
| Year Built | 1947 |
| Tax Year | 2025 |
| New Construction | false |
| Total Rooms | 6 |
| Carport Y/N | false |
| Property Condition | Construction Complete |
Interior Features
| Total Baths | 4 |
|---|---|
| Flooring | Floor Tile |
| Air Conditioning Y/N | true |
Exterior Features
| Foundation Details | Slab |
|---|---|
| Building Area Total | 1920 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in 32401
Price
Taxes
Year Built
Emerald Coast Association of REALTORS®, Inc. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers
Copyright © 2026 by the Multiple Listing Service of the Pensacola Association of
REALTORS ® This information is believed to be accurate but is not guaranteed. Subject to verification by all parties. This data is copyrighted and may not be transmitted, re-transmitted, copied, framed, re-purposed, or altered in any way for any other site, individual and/or purpose without the express written permission of the Multiple Listing Service of the Pensacola Association of REALTORS ®. Florida
Listing data provided by: Central Panhandle Association of Realtors (CPAR)
Information deemed reliable but not guaranteed. The information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
