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Bay 32413
7905 Random Road
$125,000
● Land - Off Market

7905 Random Road

Panama City Beach, FL 32413
bedrooms
Studio
bathrooms
0 Bath
$638
Est. Monthly
10.33%
Cap Rate

About This Property

Located right off Hwy 79 and the West Bay Bridge, which is just south of the new Margaritaville Community, this prime .49-acre vacant lot offers the potential for your forever home or investment opportunity. You may even have a waterview across the street, with a multi-story home build.Zoned R2, this versatile lot provides an exciting opportunity for development. The R2 zoning permits the construction of a duplex or a mobile home, catering to a range of housing preferences.Whether you're envisioning a residential haven or an investment opportunity, this vacant lot provides a canvas for your dreams. Don't miss out on the chance to make this promising piece of land your own and capitalize on the potential for a waterview lifestyle in a growing area.
Unit Size
-
Days on Market
-
Land Size
0.49 acres
Price per sqft
-
Property Type
Land
Property Taxes
$24
HOA Dues
-
Year Built
1985

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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: 3 years ago (BCARFL #752094)

Price History

Date / Event Date Event Price
Oct 6, 2021 No longer available -
No longer available
Aug 24, 2021 Sold
Premium
Sold
Jul 27, 2021 In contract -
In contract
Jun 6, 2021 Listed by Epique Realty $100,000
Listed by Epique Realty
Nov 12, 2004 Sold
Premium
Sold

Property Highlights

Building Info

Overview

    General

  • Year Built: 1985
  • Effective Year Built: 1985
  • Building Count: 1
  • Bedroom Count: 3
  • Full Bathrooms: 2
  • Building Condition: 0
  • Building Quality: 7
  • Construction Type: 0
  • Building Style: 33
  • Exterior Walls Type: 19
  • Interior Walls Type: 3
  • Roof Shape Type: 7
  • Roof Cover Type: 5
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 14
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 59
  • Porch Type: 98
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 21,387
  • Lot Size Depth Feet: 1,390
  • Lot Size Frontage Feet: 1,540
  • Total Building Area: 966
  • Gross Building Area: 966
  • Building Area: 966
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 5
  • Heating: 13
  • Heated Square Feet: 966
  • Heating Fuel Type: 2

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: V
  • Land Acres: 0000000491
  • Standard Land Use Code: 8000
  • County Land Use Code: 000200
  • State Land Use Code: 02
  • Mobile Home Indicator: T
  • Legal Description 1: 28-2S-16W -7.8- 35B BEG NW COR OF NE1/4 OF SEC TH E 35 SLY 150 WLY 97.70 NWLY 158.36 E 145.84 TO POB LESS E 15 FOR R/W AKA LOTS 17 & 18 OF COY POWELL UNREC ORB 4451 P 1310

Neighborhood

  • School District Name: Bay County School District
  • Census Tract: 000204

Zoning

  • Zoning: BC16

Geography

  • Parcel: 32624-030-000
  • Lot: 17
  • Meridian: SEC 28 TWN 02S RNG 16W
  • Municipality: FIRE COUNTY MOSQUITO
  • Latitude: 30.2948
  • Longitude: -85.8508

    Address

  • Full Address: 7905 Random Rd
  • Address - House Number: 7905
  • Address - Street Name: Random
  • Address - Suffix Type: Rd
  • State: FL
  • City Name: Panama City Beach
  • Carrier Code: R009
  • 4-Digit Zip Code: 9521
  • Zip Code: 32413

Valuation

    Tax

  • Total Area: 1,067
  • Tax Year: 2023
  • Tax Amount: $28,974
  • Tax Rate Code Area: 055

    Appraisal Valuation

  • Standard Deviation: 0.2412
  • Valuation Date: Dec 13, 2023
  • Confidence Score: 66
  • Final Value: 72,556
  • High Value: 90,063
  • Low Value: 55,049

    Market Valuation

  • Market Total Value: $24,449
  • Market Land Value: $24,449

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $16,435

    Sales

  • Current Sale Contract Date: Aug 23, 2021
  • Current Sale Recording Date: Aug 24, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2021065169
  • Previous Sale Recording Date: Nov 12, 2004
  • Previous Sale Contract Date: Nov 11, 2004
  • Previous Sale Amount: $24,000
  • 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 Bay

Stats & Trends

Median Asking:

$385,498

Sale Price/ft²

$243

Below Asking

0.02%

Average Days on Market

110

Average Home Size

1527 ft²

Average Home Age

24.4 years

Currently For Sale

2899 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

Click here to view more rentals in the neighborhood.
View Original Listing by Epique Realty (888) 893-3537
ARFL-752094 Copyright © 2024 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Listing Status: Active

Frequently Asked Questions

When was property at 7905 Random Road built and last sold?
The property at 7905 Random Road was built in 1985 and last sold on Aug 23, 2021 for $72,500.
How much is this home worth?
The estimated value of the home located at 7905 Random Road is $106,049.
What are some comparable homes to 7905 Random Road?
There are currently no comparable homes to 7905 Random Road.
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