209 Sherman Avenue
Panama City, FL 32401
4
Bed
4
Bath
0.23Acre(Lot)
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 arran
Property Details
Map
Map
What's Nearby
Nearby Areas
Features
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Bedroom Information
Total beds: 4Bathroom Information
Total Baths: 4 Full Baths: 4Room Information
Rooms Total: 6Roofing Information
Metal -
Interior Features
Roof: MetalAppliances: ElectricWaterHeater -
Heating & Cooling
Has Cooling: Yes Cooling: WindowUnits
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Building Information
Year Built: 1947Building Area Total: 1920Construction Materials: BlockPrivate Pool: No
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Lot Information
Lot Dimensions: 73.0 ft x 139.0 ft Main Square Feet: 0.23 Lot Size Acres: 0.23 Lot Size Square Feet: 10,019Property Information
Subdivision: [No Recorded Subdiv] Source Property Type: Residential MLS Area Minor: 0202 - Bay - Central SE Property SubType: Duplex Property Age: 79
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Listing Price Information
Listing Price: $275000
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Tax Information
Parcel Number: 22427-000-000 Tax Year: 2025 Annual Tax: $2835.1 Tax Legal Desc: OLD MILL ADD LOT 13 LESS N 7' BLK 4 ORB 3864 P 835
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School Information
Elementary School: Cherry Street Junior High School: Jinks Senior High School: Bay -
Location Information
Direction: Traveling East on Hwy 98, make a right on Sherman Ave. Travel approximately half a mile and the property will be on the Right.
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Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| 314 & 316 Bayou Avenue, Panama City, FL, 32401 | $350,000 | 6 | 4 | -- | 0.09 Acre |
| 147/ 149 Claire Avenue, Panama City, FL, 32401 | $350,000 | 6 | 4 | -- | 0.16 Acre |
| 1110 Sheffield Avenue #AB, Panama City, FL, 32401 | $298,000 | 3 | 4 | -- | 0.13 Acre |
| 754 Sherman Avenue #A B, Panama City, FL, 32401 | $379,000 | 6 | 4 | -- | -- |
| 1103 E 11th Street #A B, Panama City, FL, 32401 | $150,000 | 2 | 2 | -- | 0.19 Acre |
| 1347 Mercedes Avenue #A-B, Panama City, FL, 32401 | $240,000 | 2 | 2 | -- | -- |
| 904 E 14th Street #A-B, Panama City, FL, 32401 | $240,000 | 2 | 2 | -- | 0.10 Acre |
| 900 E 14th Street #A-B, Panama City, FL, 32401 | $250,000 | 2 | 2 | -- | -- |
| 803 E 10th Court #A B, Panama City, FL, 32401 | $174,900 | 2 | 2 | -- | 0.11 Acre |
Similar Multifamily To 209 Sherman Avenue
Nearby For Sale
The information being provided by Miami Association of REALTORS® is for the consumer's personal, non-commercial use. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Miami Association of REALTORS®. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Miami Association of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2026 Miami Association of REALTORS®. All rights reserved.
ByOwner last updated this listing 09/19/2026 @ 09:58
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