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Lower Grand Lagoon 32408 Crescent Beach
6723 GULF Drive
Photo of 6723 GULF Drive
Sold on Jan 24, 2019

18

Map

Photo of 6723 GULF Drive
Photo of 6723 GULF Drive
$870,000
● Land - Off Market

6723 GULF Drive

Panama City Beach, FL 32408
bedrooms
Studio
bathrooms
0 Bath
$1,337,326
RealtyHop Estimate
51.97%
Since Feb 1, 2019
National-US
Primary Model

About This Property

GULF FRONT LOT ZONED RESIDENTIAL; SR2=SEASONAL RESORT 2. Fifty waterfront feet of the world's most beautiful beach on the Gulf of Mexico. This lot is located on the far east end of the beach away from the hustle and bustle of the beach but still close to restaurants, attractions and St. Andrew State Park. Fantastic chance to own gulf-front property.
Unit Size
-
Days on Market
237 days
Land Size
0.17 acres
Price per sqft
-
Property Type
Land
Property Taxes
$396
HOA Dues
-
Year Built
2020

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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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 ( #656977)

Price History

Date / Event Date Event Price
Jul 28, 2021 Sold
Premium
Sold
Jan 28, 2019 Sold
Premium
Sold
Mar 30, 2017 Listed by Coldwell Banker Carroll Realty $880,000
Listed by Coldwell Banker Carroll Realty
Mar 28, 2003 Sold
Premium
Sold

Property Highlights

Building Info

Overview

    General

  • Year Built: 2020
  • Effective Year Built: 2020
  • Building Count: 1
  • Bedroom Count: 9
  • Bathroom Count: 11
  • Full Bathrooms: 11
  • Partial Bathrooms: 11
  • Building Condition: 0
  • Building Quality: 1
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 19
  • Interior Walls Type: 3
  • Roof Shape Type: 9
  • Roof Cover Type: 5
  • Floor Count: 400
  • Living Units: 1
  • Floor Cover: 13
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 79
  • Porch Type: 0
  • Pool Type: 8

    Dimensions

  • Lot Size Square Feet: 7,492
  • Lot Size Depth Feet: 1,500
  • Lot Size Frontage Feet: 500
  • Total Building Area: 5,476
  • Gross Building Area: 5,476
  • Building Area: 5,476
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 5,476
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: CRESCENT BEACH
  • Land Acres: 0000000172
  • Standard Land Use Code: 1001
  • County Land Use Code: 000100
  • State Land Use Code: 00
  • Legal Description 1: CRESCENT BEACH UNIT #1 LOT 10 BLK 14 ORB 4440 P 177 MAP 58D2

Neighborhood

  • School District Name: Bay County School District
  • Census Tract: 002604

Zoning

  • Zoning: BC23

Geography

  • Parcel: 30872-000-000
  • Block: 14
  • Lot: 10
  • Meridian: SEC 08 TWN 04S RNG 15W
  • Municipality: FIRE BEACH MOSQUITO
  • Latitude: 30.1545
  • Longitude: -85.7721

    Address

  • Full Address: 6723 Gulf Dr
  • Legal Unit: 1
  • Address - House Number: 6723
  • Address - Street Name: Gulf
  • Address - Suffix Type: Dr
  • State: FL
  • City Name: Panama City
  • Zip Code: 32408

Valuation

    Tax

  • Total Area: 5,476
  • Tax Year: 2023
  • Tax Amount: $3,556,442
  • Initial Tax Delinquent Year: 2019
  • Tax Rate Code Area: 056

    Appraisal Valuation

  • Standard Deviation: 0.4882
  • Valuation Date: Dec 20, 2023
  • Confidence Score: 2
  • Final Value: 4,495,237
  • High Value: 6,690,061
  • Low Value: 2,300,412

    Market Valuation

  • Market Total Value: $2,969,131
  • Market Land Value: $1,375,000
  • Market Improvement Value: $1,594,131

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $2,741,563

    Sales

  • Current Sale Contract Date: Jul 28, 2021
  • Current Sale Recording Date: Jul 28, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2021057934
  • Previous Sale Recording Date: Jan 28, 2019
  • Previous Sale Contract Date: Jan 22, 2019
  • Previous Sale Amount: $870,000
  • Previous Sale Document Type: 71
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 Crescent Beach

Stats & Trends

Median Asking:

$550,000

Sale Price/ft²

$232

Below Asking

0.07%

Average Days on Market

83

Average Home Size

2737 ft²

Average Home Age

35.5 years

Currently For Sale

4 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

Rentals Near You

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Frequently Asked Questions

When was property at 6723 Gulf Drive built and last sold?
The property at 6723 Gulf Drive was built in 2020 and last sold on Jul 28, 2021 for $3,300,000.
How much is this home worth?
The estimated value of the home located at 6723 Gulf Drive is $888,800.
What are some comparable homes to 6723 Gulf Drive?
There are currently no comparable homes to 6723 Gulf Drive.
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