Ad #7943577
MLS #791996
ATTENTION 1031 EXCHANGE BUYERS, INVESTORS, DEVELOPERS, & DESIGN
253 Deermont St, Panama City Beach, Florida, 32413
$799,900
3Beds
2Baths
1,076Sqft
0.240Acres
About this property
ATTENTION 1031 EXCHANGE BUYERS, INVESTORS, DEVELOPERS, & DESIGN ENTHUSIASTS: This is not just a beach lot--it is an active, cash-flowing asset with massive structural equity and huge development upside. Located less than 400 feet from the sand in Panama City Beach proper (Miramar Heights) with protected, elevated Gulf views, this rare 0.24-acre double lot offers an immediate return on investment alongside future development flexibility. THE CASH FLOW & INVESTMENT: - Turnkey Revenue: Proven 4-year rental history averaging $3,425/month in gross income. - Immediate Income: Current reliable tenants are already in place, making this an ideal, seamless vehicle for 1031 exchange placement from day one. - The Layout: Set up as a highly functional, income-producing configuration featuring a 2BR/1BA main home plus a completely separate, private-entrance studio apartment with its own kitchen and full bath. THE ARCHITECTURAL VALUE: Forget cookie-cutter beach builds. The existing structure is a rare, mid-century modernist jewel built in the classic California Eichler style. It features stunning original terrazzo floors, striking tongue-and-groove cathedral wood ceilings, and timeless stucco construction. A preservationist's dream beach retreat or a luxury hybrid rental space with unparalleled character. THE DEVELOPER / ASSEMBLAGE OPPORTUNITY: Zoned R-1c and situated entirely in a preferred Flood Zone X (no flood insurance required by Lender!). Because the structure sits on an oversized double lot, there is an opportunity to be subdivided into two premium buildable lots with Gulf views. Crucially, this property is surrounded on all sides by vacant lots, creating a rare and highly lucrative potential assemblage play for an investor looking to capture a massive, continuous footprint on the quiet west end of PCB. Whether you choose to collect the steady $3,400+/month check, restore a mid-century modernist masterpiece with a resort-style pool yard, or leverage the surrounding vacant parcels for a major development play, the ceiling on this property is incredibly high. Sold as-is. Do not disturb tenants. Buyers to verify all dimensions and zoning specs.
Property Features
3 Beds
2 Baths
1,076 Sqft
Built in 1966
0.240 Acres
1 Story
Siding: Stucco
Bay County
Miramar Beach 1st Community
Additional Photos
Contact Information
Billy G Seeberger
Think Real Estate
850-238-5465
Location
Listing Agent: Billy G Seeberger (License #: BK3272042) 850-238-5465
Broker: Think Real Estate 850-890-6262 Listing Site
Copyright © 2026 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Broker: Think Real Estate 850-890-6262 Listing Site
Copyright © 2026 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
BeachHouse.com
Printed Jul 21, 2026
Photo Gallery
$799,900
3
Beds
2
Baths
1,076
Sqft
253 Deermont St, Panama City Beach, Florida, 32413
By contacting this agent you agree to these Terms and Conditions.
MLS# 791996
ATTENTION 1031 EXCHANGE BUYERS, INVESTORS, DEVELOPERS, & DESIGN
$799,900
253 Deermont St, Panama City Beach, Florida, 32413
3
Beds
2
Baths
1,076
Sqft
0.240
Acres
$799,900
253 Deermont St, Panama City Beach, Florida, 32413
3 Beds
2 Baths
1,076 Sqft
0.240 Acres
ATTENTION 1031 EXCHANGE BUYERS, INVESTORS, DEVELOPERS, & DESIGN ENTHUSIASTS: This is not just a beach lot--it is an active, cash-flowing asset with massive structural equity and huge development upside. Located less than 400 feet from the sand in Panama City Beach proper (Miramar Heights) with protected, elevated Gulf views, this rare 0.24-acre double lot offers an immediate return on investment alongside future development flexibility. THE CASH FLOW & INVESTMENT: - Turnkey Revenue: Proven 4-year rental history averaging $3,425/month in gross income. - Immediate Income: Current reliable tenants are already in place, making this an ideal, seamless vehicle for 1031 exchange placement from day one. - The Layout: Set up as a highly functional, income-producing configuration featuring a 2BR/1BA main home plus a completely separate, private-entrance studio apartment with its own kitchen and full bath. THE ARCHITECTURAL VALUE: Forget cookie-cutter beach builds. The existing structure is a rare, mid-century modernist jewel built in the classic California Eichler style. It features stunning original terrazzo floors, striking tongue-and-groove cathedral wood ceilings, and timeless stucco construction. A preservationist's dream beach retreat or a luxury hybrid rental space with unparalleled character. THE DEVELOPER / ASSEMBLAGE OPPORTUNITY: Zoned R-1c and situated entirely in a preferred Flood Zone X (no flood insurance required by Lender!). Because the structure sits on an oversized double lot, there is an opportunity to be subdivided into two premium buildable lots with Gulf views. Crucially, this property is surrounded on all sides by vacant lots, creating a rare and highly lucrative potential assemblage play for an investor looking to capture a massive, continuous footprint on the quiet west end of PCB. Whether you choose to collect the steady $3,400+/month check, restore a mid-century modernist masterpiece with a resort-style pool yard, or leverage the surrounding vacant parcels for a major development play, the ceiling on this property is incredibly high. Sold as-is. Do not disturb tenants. Buyers to verify all dimensions and zoning specs.
22 days
on BeachHouse.com
27
views
0
saves
Property Details
HOME DETAILS
3 Beds
2 Baths
1,076 Sqft
Built in 1966
0.240 Acres
1 Story
EXTERIOR
Siding: Stucco
FINANCIAL & COMMUNITY
Bay County
Miramar Beach 1st Community
See More Details
Location
Mortgage Calculator
About Panama City Beach
Find Vacation Rental Beach Houses on Panama City Beach in FL! Book online - beachfront homes, cottages and condos for rent. Oceanfront homes with private pools. One of the best destinations for families. Pay less (no service fees!) and get a great deal on popular rentals now. Find family fun things to do in the Gulf Coast of Florida. A tropical paradise for a romantic waterfront wedding.
Ad Statistics
Ad Number
7943577
Viewed
27 times
Listing Status
Active
Added
Jun 29, 2026
Last Refresh
Jul 21, 2026 12:05:46 PM
Listing Information
Data Source
Central Panhandle Association of REALTORS
Source Property ID
791996
Listing Agent: Billy G Seeberger (License #: BK3272042) 850-238-5465
Broker: Think Real Estate 850-890-6262 Listing Site
Copyright © 2026 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Broker: Think Real Estate 850-890-6262 Listing Site
Copyright © 2026 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Request Information
Start advertising today
Explore options for real estate agents and homeowners advertising on BeachHouse.com
Sell Your Home
Explore Similar Properties
