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$275,000 Just Listed

  • For Sale
  • Active
  • Duplex
  • 4 Beds
  • 4 Full Baths
  • Updated 2 days ago
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INVESTMENT OPPORTUNITY -- FOUR FULLY OCCUPIED RENTAL UNITS! 209 Sherman Ave features four currently occupied apartment units, generating $750 per unit per month, or $3,000 in gross monthly rental income / $36,000 annually. Each unit is individually metered. Owner-reported utilities average approximately $250/month. Property taxes are approximately $2,500 annually. The property consists of two buildings on approximately 0.23 acres with off-street parking. Built in 1947, the property offers an established rental setup with four income-producing units in a convenient Panama City location. Strong opportunity for an investor seeking existing rental income and an occupied multifamily property. Buyer to verify all unit count, square footage, room dimensions, rental income, expenses, utility arrangements, taxes, insurance, zoning, permits, property condition and all other information deemed important by buyer.

Full Property Details for 209 Sherman Ave

General

  • Price: $275,000
  • Taxes: $2,835 (2025)
  • Status: Active
  • Type: Duplex
  • Source: Bay_County
  • MLS ID: 795519
  • Updated: 9/18/2026
  • Added to Site: 4 day(s) ago

Interior

  • Number of Rooms: 6
  • Appliances: Electric Water Heater

Rooms

Bathrooms

  • Total Bathrooms: 4
  • Full Bathrooms: 4

Bedrooms

  • Total Bedrooms: 4

Location

  • County: Bay
  • Subdivision: [No Recorded Subdiv]
  • Driving Directions: Traveling East on Hwy 98, make a right on Sherman Ave. Travel approximately half a mile and the property will be on the Right.

School Information

  • Elementary School: Cherry Street
  • Middle School: Jinks
  • High School: Bay

Community

  • Community Name: 02 - Bay County - Central

Heating & Cooling

  • Air Conditioning: Yes
  • Cooling Type: Window Unit(s)

Utilities

  • Sewer: Public Sewer

Structural Information

  • Architectural Style: Duplex
  • Structure Type: Duplex
  • Construction: Block
  • Roof: Metal
  • Sq. Ft. Source: Appraiser
  • Year Built: 1947

Lot Features

  • Lot Size (Acres): 0.23
  • Lot Size (Sq. Ft.): 10,019
  • Lot Size: .23
  • Lot Dimensions: 73.0 ft x 139.0 ft

Financial Considerations

  • Tax Amount: $2,835.1
  • Tax Year: 2025

Disclosures and Reports

  • Legal Description: OLD MILL ADD LOT 13 LESS N 7' BLK 4 ORB 3864 P 835
  • Property ID: 22427-000-000

Listed by eXp Realty, LLC

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Listing agent

— 209 Sherman Ave —

  • eXp Realty, LLC

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 209 Sherman Ave

School District:Bay County School District
NameGradesDistance
Merriam Cherry Street Elementary School
1125 Cherry Street, Panama City, FL 32401
PK-50.7 mi
Jinks Middle School
600 West 11th Street, Panama City, FL 32401
6-82.5 mi
Bay High School
1200 Harrison Avenue, Panama City, FL 32401
9-122.1 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 209 Sherman Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
9/17/2026
Listed
$275,000
175%
MLS
1/03/2017
Sold
$100,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 209 Sherman Ave

Year
Property Taxes
Change
Tax Assessment
Change
2025
$1,635
-39%
$103,528
10%
2024
$2,685
50%
$94,197
-2%
2023
$1,795
45%
$96,195
54%
2021
$1,239
-3%
$62,266
-6%
2022
$1,280
3%
$66,344
2%
2021
$1,239
14%
$64,908
-3%
2019
$1,083
-16%
$67,021
-21%
2018
$1,287
22%
$84,987
4%
2017
$1,055
22%
$81,849
45%
2016
$864
-4%
$56,344
-1%
2015
$899
-17%
$57,022
-17%
2014
$1,078
6%
$68,934
-2%
2013
$1,015
—
$70,105
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by eXp Realty, LLC

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209 Sherman Avenue, Panama City, FL 32401 (MLS# 795519) is a Duplex property with 4 bedrooms and 4 full bathrooms. 209 Sherman Avenue is currently listed for $275,000 and was received on September 17, 2026. Want to learn more about 209 Sherman Avenue? Do you have questions about finding other Duplex real estate for sale in Panama City? You can browse all Panama City real estate or contact a Coldwell Banker agent to request more information.

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