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$799,900
3 Beds ⋅ 2 Baths ⋅ 791996 MLS
ATTENTION 1031 EXCHANGE BUYERS, INVESTORS, DEVELOPERS, & DESIGN ENTHUSIASTS: This is not just a beach lot--it is an active, cash-flowing asset with massive structural equity and huge development upside. Located less than 400 feet from the sand in Panama City Beach proper (Miramar Heights) with protected, elevated Gulf views, this rare 0.24-acre double lot offers an immediate return on investment alongside future development flexibility. THE CASH FLOW & INVESTMENT: • Turnkey Revenue: Proven 4-year rental history averaging $3,425/month in gross income. • Immediate Income: Current reliable tenants are already in place, making this an ideal, seamless vehicle for 1031 exchange placement from day one. • The Layout: Set up as a highly functional, income-producing configuration featuring a 2BR/1BA main home plus a completely separate, private-entrance studio apartment with its own kitchen and full bath. THE ARCHITECTURAL VALUE: Forget cookie-cutter beach builds. The existing structure is a rare, mid-century modernist jewel built in the classic California Eichler style. It features stunning original terrazzo floors, striking tongue-and-groove cathedral wood ceilings, and timeless stucco construction. A preservationist's dream beach retreat or a luxury hybrid rental space with unparalleled character. THE DEVELOPER / ASSEMBLAGE OPPORTUNITY: Zoned R-1c and situated entirely in a preferred Flood Zone X (no flood insurance required by Lender!). Because the structure sits on an oversized double lot, there is an opportunity to be subdivided into two premium buildable lots with Gulf views. Crucially, this property is surrounded on all sides by vacant lots, creating a rare and highly lucrative potential assemblage play for an investor looking to capture a massive, continuous footprint on the quiet west end of PCB. Whether you choose to collect the steady $3,400+/month check, restore a mid-century modernist masterpiece with a resort-style pool yard, or leverage the surrounding vacant parcels for a major development play, the ceiling on this property is incredibly high. Sold as-is. Do not disturb tenants. Buyers to verify all dimensions and zoning specs.

253 Deermont Street, Panama City Beach

Listing courtesy of Think Real Estate.

$725,000
2 Beds ⋅ 2 Baths ⋅ 788178 MLS
Charming beachside home located just one block from Panama City Beach. The home features an updated kitchen with stainless steel appliances, modern countertops, and quality finishes, along with updated bathrooms showcasing elegant tile work. A versatile flex room provides the option for a third bedroom, home office, or additional living space. The exterior offers a large fenced backyard with well-maintained grass, providing ample space for outdoor activities and room for a pool. Additional features include an outdoor shower, landscape lighting, a storage shed with covered seating area, attached garage, and additional covered parking. Enjoy a Gulf view from the property and take advantage of the prime location near Pier Park, local dining, shopping, and entertainment, with convenient access to the 30A area. Recent updates include a new roof installed in July 2024 with a 10-year, 130 MPH warranty, and an A/C unit approximately 6 years old. This property presents an excellent opportunity for a primary residence, second home, or investment property in a highly desirable beachside location.

17850 Lynn Street, Panama City Beach

Listing courtesy of EXP Realty LLC.