| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 58th | Good |
| Amenities | 45th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 300 Cabana Blvd, Panama City Beach, FL, 32407, US |
| Region / Metro | Panama City Beach |
| Year of Construction | 2007 |
| Units | 112 |
| Transaction Date | 2004-12-23 |
| Transaction Price | $964,500 |
| Buyer | APARTMENTS PROPERTIES OWNER LLC |
| Seller | BAY CABANA ASSOCIATES LLC |
300 Cabana Blvd, Panama City Beach Multifamily Thesis
2007-vintage units in a suburban coastal setting position this asset competitively versus older neighborhood stock, with renter demand supported by elevated ownership costs and above-metro rent positioning, according to WDSuite’s CRE market data.
The property sits in a suburban pocket of Panama City Beach where neighborhood quality ranks in the top quartile among 54 metro neighborhoods (A- rating). Dining density is solid for the area and day-to-day needs are covered with grocery and pharmacy access trending above national medians, while parks and cafes are thinner immediately nearby. Average school ratings land around the national middle, which supports broad appeal without commanding a premium tied to top-tier districts.
Renter concentration in the neighborhood is meaningful — roughly a third of housing units are renter-occupied — providing a defined tenant base and demand depth for multifamily operators. Median contract rents benchmark in the mid-$1,500s at the neighborhood level and home values are elevated versus national norms; in combination, this creates a high-cost ownership market that can sustain reliance on rental housing and aid lease retention.
Within a 3-mile radius, households have grown over the past five years and are projected to rise further through 2028, even as average household size trends slightly lower. This points to a larger tenant base over time and supports occupancy stability for well-located properties. Income distribution skews toward middle to upper-middle brackets locally, and the neighborhood’s rent-to-income profile suggests manageable affordability pressure relative to many coastal markets, which can help with renewals and pricing discipline.
Vintage matters: with an average neighborhood construction year of 1996, a 2007 build competes favorably against older stock. That relative recency can reduce near-term capital intensity while still allowing targeted upgrades to drive rent differentiation and resident retention.
Safety signals, based on WDSuite’s CRE market data, indicate the neighborhood performs below national medians overall, with violent-offense measures weaker than property-crime measures. Compared with other areas in the Panama City metro, this neighborhood trends below the metro average on safety, though not at the bottom of the distribution among the 54 neighborhoods. Recent year estimates show an uptick in violent incidents, so prudent operators should incorporate enhanced lighting, access control, and community engagement into operating plans.
Investors should frame these indicators as part of underwriting and asset management risk controls rather than a definitive projection. Submarket-wide initiatives and property-level security programs can materially influence resident perception and retention over time.
This 2007 multifamily asset benefits from competitive positioning versus older neighborhood stock, solid access to daily-needs retail, and a renter base supported by a high-cost ownership context. Within a 3-mile radius, population and households are expanding and are projected to continue rising, implying a larger tenant pool and support for occupancy stability. According to CRE market data from WDSuite, neighborhood-level rents sit above national medians while rent-to-income levels suggest room for disciplined pricing without overextending affordability.
From an execution standpoint, the vintage allows for targeted value-add — kitchens, finishes, and common-area refreshes — to separate from 1990s-era comparables, while keeping capital planning manageable. Operators should underwrite to local safety trends and the area’s limited park and cafe offerings, but overall fundamentals point to steady demand and retention potential for well-managed multifamily.
- 2007 build competes well against an older neighborhood baseline, supporting rent premiums with selective upgrades.
- Household growth within 3 miles expands the tenant base and supports occupancy stability over the medium term.
- Elevated home values reinforce reliance on rental housing, aiding lease retention and pricing power.
- Daily-needs retail access is strong, though limited parks/cafes may temper lifestyle-driven premiums.
- Risk: below-median safety trends warrant active security and resident-engagement strategies in underwriting.