| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Best |
| Demographics | 75th | Best |
| Amenities | 39th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6200 N Lagoon Dr, Panama City, FL, 32408, US |
| Region / Metro | Panama City |
| Year of Construction | 1994 |
| Units | 38 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6200 N Lagoon Dr Panama City Multifamily Investment
Neighborhood fundamentals point to steady renter demand and occupancy stability, according to WDSuite’s CRE market data. With 1994 construction and a compact unit profile, the asset is positioned to compete on efficiency while benefiting from area-wide rent growth.
Located in Panama City’s inner-suburb fabric, the neighborhood is rated A and ranks 6th among 54 metro neighborhoods, placing it in the top quartile locally based on composite factors from WDSuite. Average school ratings are a relative strength — ranked 1st of 54 in the metro and in the top quartile nationally — which can support family-oriented leasing and retention even if unit mix skews smaller.
Livability is shaped by strong restaurant density (high nationally) and solid grocery access, while cafes, parks, and pharmacies are less concentrated immediately nearby. This mix favors convenience for everyday needs with some trade-offs on recreational and cafe options.
The neighborhood’s housing stock skews slightly older than the subject, with an average vintage of 1987. The 1994 construction offers a relative competitive edge versus older properties; investors should still plan for ongoing system updates and selective modernization as the asset approaches mid-life.
Occupancy at the neighborhood level is around 88% and has improved over the past five years, supporting income stability; note this refers to neighborhood occupancy, not the property itself. Renter-occupied share is roughly one-third of housing units, indicating a moderate renter concentration that can provide depth to the tenant base without excessive turnover risk.
Within a 3-mile radius, demographics show population growth over the last five years alongside a notable increase in households and smaller average household sizes. Forward-looking estimates point to essentially flat population but continued household growth, implying more, smaller households — a setup that tends to support demand for compact apartments and can help sustain occupancy.
Home values sit in a mid-range context for Florida, and rent-to-income levels in the neighborhood are manageable, which can aid lease retention and pricing discipline. Sustained rent gains over five years, per WDSuite, suggest durable renter demand relative to incomes rather than outsized affordability pressure.
Safety indicators are mixed. Within the Panama City metro, the neighborhood’s crime rank is 44 out of 54, which is above the metro median. Nationally, however, safety metrics place the area below the national median, indicating higher reported incidents than many neighborhoods across the country. Recent year-over-year estimates show volatility in violent and property offense rates; investors should monitor trend direction and property-level security practices as part of underwriting.
This 38-unit, 1994-vintage asset offers relative competitiveness versus the neighborhood’s older average vintage while appealing to a growing base of smaller households. Average unit sizes near 389 sf position the property for efficiency-minded renters, potentially supporting occupancy stability as neighborhood demand has strengthened. Based on commercial real estate analysis from WDSuite, the surrounding area exhibits steady rent growth, a moderate renter concentration, and school quality that can enhance leasing fundamentals.
Near-term upside centers on selective renovations and operational execution to capture rent positioning while maintaining retention given manageable rent-to-income levels at the neighborhood scale. Key watch items include neighborhood crime trends and the limited concentration of parks and pharmacies, which may influence certain renter segments.
- 1994 vintage newer than area average, offering competitive positioning with targeted modernization potential
- Compact unit profile aligns with rising small-household share, supporting depth of tenant demand
- Neighborhood occupancy has improved, and sustained rent growth supports income durability (neighborhood-level metrics)
- School quality ranks at the top of the metro, a supportive factor for leasing and retention
- Risks: below-median national safety metrics and limited park/pharmacy density warrant active property management and tenant-experience focus