| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Fair |
| Demographics | 43rd | Fair |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 160 N Fox Ave, Panama City, FL, 32404, US |
| Region / Metro | Panama City |
| Year of Construction | 1982 |
| Units | 32 |
| Transaction Date | 2018-02-23 |
| Transaction Price | $4,900,000 |
| Buyer | FKHJ TWO LLC |
| Seller | STSM & C LAW LLC |
160 N Fox Ave Panama City Multifamily Opportunity
Renter demand is supported by everyday amenities and steady household growth nearby, while ownership remains relatively accessible and may compete with leasing; according to CRE market data from WDSuite, neighborhood occupancy trends have been softer than metro averages but broadly stable in recent years.
The property sits in a Suburban pocket that is competitive among Panama City neighborhoods (18 of 54) and benefits from daily-needs access. Grocery and pharmacy density scores trend above many peers in the metro and land in higher national percentiles, while restaurants are reasonably represented; cafes are sparse. For investors, this mix supports day-to-day convenience that can aid leasing and renewal performance.
Neighborhood schools average around 2 out of 5, which may temper appeal for some family renters. Still, amenity access and suburban utility can offset for workforce-oriented demand. Median contract rents in the neighborhood are mid-range and have grown over the past five years, indicating pricing power has been present even as occupancy has moderated.
Construction in the surrounding area skews to the late 1980s on average. With a 1982 vintage, this asset is slightly older than nearby stock, pointing to potential value-add through targeted renovations and capital planning that can improve competitive positioning against newer comparables.
Within a 3-mile radius, households have increased over the past five years and are projected to expand further, even as average household size trends lower. This combination typically widens the renter pool and supports occupancy stability for smaller-format units. Median incomes in the 3-mile area have risen, and forecast rent levels are expected to track higher as well, which can underpin revenue growth if operators manage affordability and lease strategies effectively.
Home values in the neighborhood are below many coastal Florida markets, creating a more accessible ownership landscape that can compete with rentals. That said, a moderate rent-to-income ratio at the neighborhood level supports retention and reduces turnover risk relative to more price-constrained submarkets, based on CRE market data from WDSuite.
Safety indicators for the neighborhood track below national averages, with crime metrics positioned in lower national percentiles. Within the Panama City metro, the area ranks weaker than many of the 54 neighborhoods, signaling that investors should underwrite conservative loss assumptions and consider security and lighting upgrades as part of operations.
Recent year-over-year data also shows an uptick in estimated property and violent offense rates locally. While these measures can be volatile year to year, prudent operators typically budget for preventative measures and emphasize tenant screening and on-site protocols to support leasing and retention.
This 32-unit, 1982-vintage asset offers a value-add angle in a suburban location with daily-needs convenience and a renter base supported by household growth within a 3-mile radius. Neighborhood occupancy has been softer but relatively steady, and rents have advanced over the last five years, suggesting operators with targeted renovations and disciplined lease management can compete effectively against nearby stock. Based on CRE market data from WDSuite, the area’s rent levels and rent-to-income dynamics point to manageable affordability pressure, which can aid retention.
Key considerations include older systems typical of early-1980s construction and local safety metrics that trail national norms. At the same time, the ownership market is more accessible than many Florida metros, creating some competition for renters, but the combination of amenity access and projected household expansion supports a durable tenant base for well-operated multifamily.
- Suburban location with strong daily-needs access supports leasing and renewals.
- 1982 vintage offers value-add and capital planning opportunities to enhance competitiveness.
- Household growth within 3 miles expands the renter pool and supports occupancy stability.
- Neighborhood rent dynamics show room for revenue management, per WDSuite’s commercial real estate analysis.
- Risks: safety metrics below national norms, softer neighborhood occupancy, and competition from relatively accessible homeownership.