240 Harmon Avenue Panama City, FL $ 6,197,500
240 Harmon Avenue
$ 6,197,500
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240 Harmon Avenue

Panama City, FL, 32401
$ 6,197,500
Bedrooms-- Baths34.0 Sq 29,796

Monthly Estimate*

$ 38,664

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Commercial Property for sale in Panama City, FL

for $6,197,500 with 34 full baths. This 29,796 square foot building was built in 1966.

This exceptional 34-unit waterfront community, complete with a 22-slip marina, is now offered at a newly adjusted price, creating an even stronger value proposition for investors. In addition to its comprehensive renovations and prime waterfront amenities, the property includes an income-generating on-site laundry facility and a low-maintenance marina that produces steady revenue, further strengthening the asset's operational performance. With 22 units fully renovated down to the studs in 2020, upgraded mechanicals, new roofs, contemporary interiors, and a history of consistently high occupancy, this community offers both stability and long-term growth potential. Positioned within the heart of Downtown Panama City's ongoing revitalizationfeaturing upgraded streetscapes, improved walkability, and renewed waterfront developmentthis asset remains one of the most compelling opportunities in the market. The pricing adjustment simply aligns the offering with current investor activity and enhances the property's already strong return profile.

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Commercial Active

Price

$ 6,197,500

Full Bath

34

Property Type

Commercial

Taxes

$ 39,860

Style

Income

Year Built

1966

Town/City

Panama City

County/Region

Bay

MLS | Web ID

RX11076691

Features
General
Heating Electric
Cooling Electric
Utilities Cable Electric Public Sewer Public Water
Possession At Closing Funding
Roof Other
Zoning PC05
Status Active
Year Built 1966
Subdivision DAVIS PLAT
Stories Count 2.0
Type MultiFamily (5+ Units)
Property Type E
Area 5940
Auction No
Tax Year 2024
Terms Considered Assumable-Qualify Cash Conventional
Use Income
Virtual Tour https://www.propertypanorama.com/240-Harmon-Avenue-Panama-City-FL-32401/unbranded
Geo Area Other Geographic Area
Legal Description DAVIS PLAT LOTS 1 2 3 & PACL LYING BETWEEN LOT 1 & MASSELINA BAYOU. BLK 5 ORB 4148 P 69 AND PART OF VACATED BLUFF ST R/W
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Exterior
Waterfront Yes Ocean Access
Lot Size 1.05
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Interior
Flooring Other
Total Number of Units 34
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Internal Only
OriginalMLSID RX-11076691
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* Excluded Features
List By
Marcy L O'Donnell

Listing Agent

Luxe Coastal Realty Group Llc

Broker

marcylodonnell@gmail.com

Email

Affordability Calculator

$41,986
Per Month
92%
8%
0%
Monthly Principal & Interest
$38,664
Monthly Property Taxes
$3,322
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
368239 Elementary School
368240 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
12/5/2025$6,197,500 -7.50% Price Down
3/31/2025$6,700,000 Listed Price

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240 Harmon Avenue, Panama City, FL, 32401 is a Commercial Property for sale at $6,197,500 with 29,796 sqft. 240 Harmon Avenue has 34.0 baths and was built in 1966. The property's zip code is 32401 which is in Panama City, FL