240 Harmon Avenue, Panama City, FL 32401 (MLS# 990824)

240 Harmon Avenue, Panama City, FL 32401

$6,185,000

Property Type: Commercial for Sale Lot Size (sq. ft.): 46,174 Status: Active

Current Price: $6,185,000 List Date: 7/15/2026 Last Modified: 7/15/2026

Overview

Description

UNDER CONTRACT. SELLER WILL CONSIDER BACK UP OFFERS. 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 net 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.

Supplements: 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 ... (Read more)

Listing Details MLS# 990824

Contract Info

GCCMLS Number: 43959482
Listing Board: Emerald Coast

Location Tax and Legal

Area: 27 - Bay County
Street #: 240
Street Name: Harmon
Street Suffix: Avenue
State: FL
Zip Code: 32401
County: Bay
Parcel ID: 20213-000-000

General Property Info

Listed on GCCMLS: Yes
Acreage: 1.06

Multi-Family

# of Units: 34

More Information

Waterfront

Waterfront Feet: survey to confirm
Bayou: Yes

Location, Tax and Legal

Sub Area: 2703 - Bay - Central SW
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 . ORD# 2688 ORB 4163 P 171

Listing Info, Tax & Legal

As Is: Yes

Remarks & Misc

Remarks: UNDER CONTRACT. SELLER WILL CONSIDER BACK UP OFFERS. 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 net 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.

Class

Multi-Family: Yes

Property Features

Class: Multi-Family Waterfront: Bayou

Listing Office: Luxe Coastal Realty

Last Updated: July - 15 - 2026

All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2026 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.