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Harrison Lilly

Owner/Operator | Harrison Lilly Emerald Coast | Harrison Lilly Realty | PLACE

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604 Fernwood St , Panama City Beach, FL 32407
$650,000
Est. Payment: $3,296.33/mo
0 Bed
6 Bath
2556 Sqft
Status: active | Days on site: 153
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VCR-C15903466 - VCR-C159091383,VCR-C159052275

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Harrison Lilly
Owner/Operator

House Description

Unlock the potential of this versatile income-producing property located just off Middle Beach Road in the heart of Panama City Beach. Formerly operated as a motel, this property offers flexible use options for multi-family residential, short-term rental, workforce housing, or commercial conversion (buyer to verify zoning and intended use). The property features 7 bedrooms and 6 bathrooms across approximately 2,556 square feet, providing multiple rental configurations and value-add possibilities. Guests and tenants will enjoy the on-site swimming pool, creating an attractive amenity for vacation or long-term occupancy. Positioned in a highly desirable central beach corridor, the location offers quick access to shopping, dining, attractions, and entertainment, along with convenient proximity to both Front Beach Road and Back Beach Road. Whether you're looking to reposition a former hospitality asset, expand your rental portfolio, or explore redevelopment potential, this property presents a rare opportunity in one of Panama City Beach's most active growth areas.

Highlights

Listed by Dien and Andrew Group , 850-600-0605 Think Real Estate , 850-270-4200. Bay County Association of REALTORS

Property Type

Multi-Family

Lot/Acreage
0.42

Year Built

1960

County

Bay

Area

03 - Bay County - Beach

Neighborhood

Hutchison's 1st To Bahama Bch

Listing ID

786962

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:6
  • Full Bathrooms:6
Air Cond:Ceiling Fan(s),Window Unit(s)
Fireplaces:

Exterior Features

Lot:Paved
Lot Dimensions:105x168x107x174
Zoning:Resid Multi-Family
Sewer:Public Sewer
Parking Features:Unpaved
Principal Interest
$3,296
Taxes
$454

Home Price

$650,000

Loan Details

30 yrs
6.528%

Down Payment

20%
$130,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$3,296.33

Principal

Taxes

Principal Taxes HOA Total
Monthly $3,296.33 $454.17 $0.00 $3,750.50
Yearly $39,556.02 $5,450.00 $0.00 $45,006.02
Total $1,186,680.58 $163,500.00 $0.00 $1,350,180.58

Today's Rates

30 Year

6.53%

20 Year

6.33%

15 Year

6%

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Market insight data is pulled from the same city as the listing being viewed (Panama City Beach, FL).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by Bay County Association of REALTORS, and is deemed reliable but not guaranteed accurate.

IDX service by Blueroof 360

Data last updated: 2026-08-20T06:33:19.000Z

© 2026 Bay County Association of REALTORS