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Lower Grand Lagoon 32408
000 Gulf Drive
Photo of 000 Gulf Drive
Sold on Aug 26, 2020

1

Map

$325,000
● Land - Off Market

000 Gulf Drive

Panama City Beach, FL 32408
bedrooms
Studio
bathrooms
0 Bath
$465,711
RealtyHop Estimate
36.97%
Since Sep 1, 2020
National-US
Primary Model

About This Property

Great building lot on the East end of Panama City Beach. Fantastic location that is just steps away from the Gulf of Mexico with dedicated beach access # 8 directly across the street. Minutes from restaurants, shopping, marinas, and the Navy Base. This lot is 50 x 115 deep and zoned commercial with short term vacation rental/residential use allowed.
Unit Size
-
Days on Market
147 days
Land Size
0.13 acres
Price per sqft
-
Property Type
Land
Property Taxes
-
HOA Dues
-
Year Built
1977

Payment Calculator

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 29 days ago ( #689001)

Price History

Date / Event Date Event Price
Aug 26, 2020 Sold
Premium
Sold
Sep 26, 2019 Listed by Counts Real Estate Group Inc $340,000
Listed by Counts Real Estate Group Inc

Property Highlights

Building Info

Overview

    General

  • Year Built: 1977
  • Effective Year Built: 1997
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 0
  • Bathroom Count: 8
  • Partial Bathrooms: 8
  • Bathroom Plumbing Fixtures: 23
  • Building Condition: 0
  • Building Quality: 7
  • Construction Type: 17
  • Building Style: 0
  • Exterior Walls Type: 17
  • Interior Walls Type: 18
  • Roof Shape Type: 7
  • Roof Cover Type: 5
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 15
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 79
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 28,183
  • Lot Size Depth Feet: 3,000
  • Lot Size Frontage Feet: 940
  • Total Building Area: 5,566
  • Gross Building Area: 5,566
  • Building Area: 5,566
  • Building Area Measurement: R

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 5,566
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 4
  • Property Class: C
  • Land Acres: 0000000647
  • Standard Land Use Code: 2012
  • County Land Use Code: 002100
  • State Land Use Code: 21
  • Legal Description 1: 16 4S 15W -7- 70B2 BEG 250WLY & 350 SLY OF E LI NW 1/4 OF S R/W OF SR 392 TH SLY 300 NWLY ON WATER 100 NLY 300 SELY 100 TO POB ORB 4492 P 1589

Neighborhood

  • School District Name: Bay County School District
  • Census Tract: 002607

Zoning

  • Zoning: BC23

Geography

  • Parcel: 31433-000-000
  • Meridian: SEC 16 TWN 04S RNG 15W
  • Municipality: FIRE BEACH MOSQUITO
  • Latitude: 30.1409
  • Longitude: -85.7546

    Address

  • Full Address: 5121 Gulf Dr
  • Address - House Number: 5121
  • Address - Street Name: Gulf
  • Address - Suffix Type: Dr
  • State: FL
  • City Name: Panama City
  • Carrier Code: C009
  • 4-Digit Zip Code: 6903
  • Zip Code: 32408

Valuation

    Tax

  • Total Area: 6,192
  • Tax Year: 2023
  • Tax Amount: $2,698,734
  • Tax Rate Code Area: 056

    Market Valuation

  • Market Total Value: $2,722,659
  • Market Land Value: $2,585,000
  • Market Improvement Value: $137,659

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $1,689,413
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Lower Grand Lagoon

Stats & Trends

Median Asking:

$509,500

Sale Price/ft²

$408

Below Asking

0.02%

Average Days on Market

126

Average Home Size

1451 ft²

Average Home Age

32.6 years

Currently For Sale

257 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

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Frequently Asked Questions

When was property at 5121 Gulf Drive built and last sold?
The property at 5121 Gulf Drive was built in 1977 and last sold on Jan 1, 1970 for $0.
How much is this home worth?
The estimated value of the home located at 5121 Gulf Drive is $343,400.
What are some comparable homes to 5121 Gulf Drive?
There are currently no comparable homes to 5121 Gulf Drive.
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