Address
5333-5345 Cherry Street, Panama City, FL
Price
$ 1,575,000
Property Attributes
- MLS#790023
- TypeSingle Family
- Listing Status Active
- CountyBay
- CityPanama City
- Area02 - Bay County - Central
- NeighborhoodNo Named Subdivision
- Zip32404
- Style
- Year Built2025
- Price$ 1,575,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage8385
Data Source:
Central Panhandle Association of REALTORS® (CPAR)
Property Description
Introducing an exceptional investment opportunity featuring a newly constructed 5-plex built in 2025, offering modern design, strong income potential, and low-maintenance ownership. Even better, the entire development is fully occupied with long-term tenants already in place, providing immediate income and a true turnkey investment opportunity from day one. Each spacious unit features 3 bedrooms, 2 bathrooms, approximately 1,677 square feet, and an attached 1-car garage, creating an ideal setup for stable long-term rental demand and strong occupancy potential. These thoughtfully designed units showcase upscale finishes throughout, including oversized open-concept living spaces, luxury vinyl plank flooring, recessed lighting, modern fixtures, and beautifully appointed kitchens with custom cabinetry, stainless steel appliances, oversized islands, and warm butcher block countertops. The bathrooms offer a high-end contemporary feel with custom vanities, designer lighting, vessel sinks, designer mirrors, and stunning tiled walk-in showers with frameless glass enclosures. Built with today's renter in mind, each residence offers spacious layouts, modern coastal-inspired exteriors, private garage parking, and stylish, durable finishes designed for long-term appeal and minimal upkeep. The property also features ample parking, attractive curb appeal, and a clean, modern aesthetic that sets it apart from typical multifamily offerings. Whether you're looking to expand your investment portfolio, complete a 1031 exchange, or secure a high-performing multifamily asset, this fully leased, turnkey development offers a rare opportunity to own a brand-new income-producing property with immediate cash flow and modern construction advantages.
| Elementary School | Middle School | High School |
|---|---|---|
| Parker Elementary School | Everitt Middle School | Rutherford High School |
| Price History | |
|---|---|
| 5/18/2026 | Listed $1,575,000 |
General Features
| Property Subtype | MultiFamily |
|---|---|
| County | Bay |
| Property Type | CommercialSale |
| HOA | false |
| Subdivision Name | No Named Subdivision |
| Special Listing Conditions | ListedAsIs |
| Status | Active |
| Directions | Go south on Tyndall Pkwy .... turn right on Cherry Street ... go 1 and a half blocks on the right. Or ... go north on Tyndall Pkwy ... turn left on Cherry St. |
| High School | Rutherford |
| City | Panama City |
| Zoning Description | Resid Multi-Family |
| MLS Area | 02 - Bay County - Central |
| Elementary School | Parker |
| Middle/Junior High School | Everitt |
| MLS Area Minor | 0202 - Bay - Central SE |
| Standard Status | Active |
| Property Sub Type Additional | MultiFamily |
| Occupancy Type | Occupied |
| Year Built | 2025 |
| Property Attached Y/N | true |
Exterior Features
| Mobile Home Dimensions | Feet |
|---|---|
| Building Area Total | 8385 |
| Waterfront Y/N | false |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in 32404
Price
Year Built
Emerald Coast Association of REALTORS®, Inc. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers
Listing data provided by: Central Panhandle Association of Realtors (CPAR)
Information deemed reliable but not guaranteed. The information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating
