Agent profile image in chat bubble
Agent profile image in chat header

Harrison Lilly

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

Agent profile image in message

5333-5345 Cherry St , Panama City, FL 32404
$1,575,000
Est. Payment: $7,988.10/mo
0 Bed
0 Bath
8385 Sqft
Status: active | Days on site: 21
Get Pre-Qualified
VCR-C15903466 - VCR-C159091383,VCR-C159052275

By providing your number, you are expressly consenting, in writing, to receive telemarketing and other messages, including calls or texts at the number you provided above. This consent is not required to purchase any good or service. Message and data rates may apply. Text STOP to cancel.

This site is protected by reCAPTCHA and the GooglePrivacy Policy and Terms of Service apply.

Agent profile image
Harrison Lilly
Owner/Operator

House 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.

Highlights

Listed by Michael Tomlin , 850-499-2432 Coldwell Banker Realty , 850-650-4563. Bay County Association of REALTORS

Property Type

Commercial Sale

Year Built

2025

County

Bay

Area

02 - Bay County - Central

Neighborhood

No Named Subdivision

Listing ID

790023

Questions about this listing?

Contact Agent

Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:0
  • Full Bathrooms:

Exterior Features

Zoning:Resid Multi-Family
Principal Interest
$7,988
Taxes
$1,004

Home Price

$1,575,000

Loan Details

30 yrs
6.529%

Down Payment

20%
$315,000
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:
$7,988.10

Principal

Taxes

Principal Taxes HOA Total
Monthly $7,988.10 $1,004.06 $0.00 $8,992.17
Yearly $95,857.23 $12,048.75 $0.00 $107,905.98
Total $2,875,717.02 $361,462.50 $0.00 $3,237,179.52

Today's Rates

30 Year

6.53%

20 Year

6.33%

15 Year

5.93%

Never Miss a Property

Be the first to know when a property hits the market.

Current Listings

Last 30 Days
N/A
Aug 2026

Average Price

All Price Ranges
N/A
Aug 2026

Average Days on Market

All Price Ranges
N/A
Aug 2026
Market insight data is pulled from the same city as the listing being viewed (Panama City, 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