604 Fernwood St, Panama City Beach, FL 32407

Project was operated as a thriving 6 unit motel for a number of years and then as 3 two bedroom two bath apartments with kitchenettes. The project is situated on a large corner lot with 100' fronting Hutchison Blvd. Just a short walk to the beach. There is a separate building that has a living quarters in it for a maintenance person as well as washer dryer / laundry facility. The rooms are all lined with the old heart of pine tongued and groove paneling. There is an additional shed for storage and an in ground pool with wrap around deck. The property is being offered at 1/3 the amount offered in 2006. With a little love the project could generate some nice cash flow while waiting for the new development market to recover.