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Pinnacle Real Estate Group – FL

3510/ 3536 Saint John Street, Panama City, FL 32401 (MLS# R11145658)

3510/ 3536 Saint John Street, Panama City, FL 32401

$6,243,750
Property Type: Commercial Sale Square Footage: 33,060 Status: Active
Current Price: $6,243,750 List Date: 12/05/2025 Last Modified: 5/19/2026

Overview

Description

This 50-unit garden-style community delivers strong fundamentals and consistent performance, supported by a diverse unit mix of 8 one-bed, 20 two-bed, 12 three-bed, and 10 four-bed units. With 42 units renovated since 2020—featuring updated flooring, fresh paint, windows, and fixtures—the property offers modern appeal and reduced turnover risk. Additional income is generated through an on-site laundry facility, and a separate office building with storage provides valuable operational flexibility. Major capital improvements include new metal roofs, upgraded electrical panels, and multiple HVAC and water-heater replacements, minimizing near-term CapEx exposure.

Supplements: Steady occupancy and an assumable $4.57M, 3.75% fixed-rate non-recourse loan enhance the investment's strength in today's lending environment. Positioned near major retailers, schools, employment centers, and within minutes of Panama City Beach, the property sits in a high-demand rental corridor with long-term growth potential. A recent price adjus ...

Listing Details MLS# R11145658

General Property Information

Property Sub Type
Multi Family
Number Of Units Total
50
Building Area Main
33060
Building Area Source
Owner
Year Built
1970
Lot Size Area
121968
Lot Size Acres
2.8
Stories
2

Property Features

Building Features: Free Standing Documents Available: Financial Statement Electric: Three Phase Flooring: Other Heating: Electric Possession: Close Of Escrow; Negotiable Sale Includes: Building; Land Tenant Pays: Cable TV; Electricity; Janitorial Service Cooling: Wall/Window Unit(s) Listing Terms: Assumable; Cash; Conventional Roof: Metal Security Features: Fire Sprinkler System Sewer: Public Sewer Utilities: Cable Available Water Source: Public Showing Requirements: 24 Hour Notice; Appointment Only

Contract Information

Comp Sale YN
No
Original List Price
6243750

Location and Legal

Country
United States
County Or Parish
Bay
County Parish Name
Bay
Street Number
3510/ 3536
Street Name
Saint John
Street Suffix
Street
City Name
Panama City
State Or Province
FL
Postal Code
32401
Area
5940 - Other Florida County
Geographic Area
Other
Parcel Number
2338800000023389000000
Zoning
Multi Family
Directions
Follow US-98 E and US-98 BUS E to E 2nd St in Springfield. Take Kilbourn Ave to St John St. This property sits on 2 separate parcels separated by a small SFH.
Property Description
Magnolia Cove

Financial Information

Tax Annual Amount
18237
Tax Year
2025
Tax Legal Description
11 4S 14W -366.4- 118C4 BEG 787' N & 500' W OF SE COR OF SW1/4 OF SE1/4 TH W 285' S 256' E 285' N 256' TO POB ORB 4161 P

Status Change Information

Major Change Timestamp
2025-12-05T19:27:35Z
Major Change Type
New Listing
Status Change Date
2025-12-05

More Information

Building and Property Details

# Of Toilets
50
% Air Conditioned
100
Maximum Ceiling Height
8

Price Calculations

Current Price To SqFt
188.86

Originating Details

Originating System Key
20251205191545416659000000
Originating System ID
M00000170
IDX
Listing Office: Luxe Coastal Realty Group LLC
Last Updated: May - 19 - 2026
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. Copyright 2026 Beaches Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.

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