Ad #7315653
MLS #785643
OPPORTUNITY ABOUNDS ON THIS LAGUNA BEACH PROPERTY! Welcome to
209 Oleander Dr, Panama City Beach, FL 32413
$1,299,000
4Beds
4Baths
2,798Sqft
--Acres
About this property
OPPORTUNITY ABOUNDS ON THIS LAGUNA BEACH PROPERTY! Welcome to 209 Oleander Drive, ideally located in the heart of Panama City Beach on a spacious L-shaped lot, just steps from the sugar-white sands and emerald waters of the Gulf (less than 600 steps to the beach!). This versatile property is perfect as a primary residence, second home, or income producing Long or short-term rental with two separate living spaces. The main house, currently owner-occupied and remodeled in 2017, features bright living spaces and a functional, open flow that is welcoming for both owners and guests. Step outside to enjoy a private outdoor area perfect for relaxing after a day at the beach or entertaining visitors. A standout feature is the 30x30 insulated workshop, offering endless possibilities. With plumbing already in place, it could easily be converted into an additional rental unit, used for a home business, or serve as storage for vehicles or a collection. The property also includes a carriage house (ADU) built in 2023, complete with a two-car garage. Over the past two years, this unit has generated $25,000 annually in short-term rental income, making it an excellent opportunity for buyers seeking immediate investment potential. The two-car garage with separate entrance also offers the option to be converted into additional rental space. Both homes include a full appliance package, tankless water heaters, walk-in showers, and smoke detectors. The property is connected to city water and sewer (no septic), with one shared water/sewer bill and two separate electric meters. Refer to upgrade list in document section. Whether you're looking for a personal beach retreat, a long term or short term income-producing property, or a combination of both, this unique opportunity offers flexibility, expansion potential, ample storage, and an unbeatable location. Schedule your showing today and discover the possibilities of beach living and investment in Panama City Beach!
Property Features
4 Beds
4 Baths
2,798 Sqft
Built in 1964
0.000 Acres
Siding: Block, HardiplankType
Metal Roof
Heat Pump (Heating), Central
$4,972 / yr property tax
Bay County
Lagu Beach Estates 7th Add Community
Additional Photos
Contact Information
Chris M Shelton
Beachy Beach Real Estate
850-896-2000
Location
Listing Agent: Chris M Shelton 850-896-2000
Broker: Beachy Beach Real Estate 850-527-5651 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: Beachy Beach Real Estate 850-527-5651 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 Aug 11, 2026
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$1,299,000
4
Beds
4
Baths
2,798
Sqft
209 Oleander Dr, Panama City Beach, FL 32413
By contacting this agent you agree to these Terms and Conditions.
MLS# 785643
OPPORTUNITY ABOUNDS ON THIS LAGUNA BEACH PROPERTY! Welcome to
$1,299,000
209 Oleander Dr, Panama City Beach, FL 32413
4
Beds
4
Baths
2,798
Sqft
--
Acres
$1,299,000
209 Oleander Dr, Panama City Beach, FL 32413
4 Beds
4 Baths
2,798 Sqft
-- Acres
OPPORTUNITY ABOUNDS ON THIS LAGUNA BEACH PROPERTY! Welcome to 209 Oleander Drive, ideally located in the heart of Panama City Beach on a spacious L-shaped lot, just steps from the sugar-white sands and emerald waters of the Gulf (less than 600 steps to the beach!). This versatile property is perfect as a primary residence, second home, or income producing Long or short-term rental with two separate living spaces. The main house, currently owner-occupied and remodeled in 2017, features bright living spaces and a functional, open flow that is welcoming for both owners and guests. Step outside to enjoy a private outdoor area perfect for relaxing after a day at the beach or entertaining visitors. A standout feature is the 30x30 insulated workshop, offering endless possibilities. With plumbing already in place, it could easily be converted into an additional rental unit, used for a home business, or serve as storage for vehicles or a collection. The property also includes a carriage house (ADU) built in 2023, complete with a two-car garage. Over the past two years, this unit has generated $25,000 annually in short-term rental income, making it an excellent opportunity for buyers seeking immediate investment potential. The two-car garage with separate entrance also offers the option to be converted into additional rental space. Both homes include a full appliance package, tankless water heaters, walk-in showers, and smoke detectors. The property is connected to city water and sewer (no septic), with one shared water/sewer bill and two separate electric meters. Refer to upgrade list in document section. Whether you're looking for a personal beach retreat, a long term or short term income-producing property, or a combination of both, this unique opportunity offers flexibility, expansion potential, ample storage, and an unbeatable location. Schedule your showing today and discover the possibilities of beach living and investment in Panama City Beach!
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Property Details
HOME DETAILS
4 Beds
4 Baths
2,798 Sqft
Built in 1964
0.000 Acres
EXTERIOR
Siding: Block, HardiplankType
Metal Roof
INTERIOR
Heat Pump (Heating), Central
FINANCIAL & COMMUNITY
$4,972 / yr property tax
Bay County
Lagu Beach Estates 7th Add 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
7315653
Viewed
103 times
Listing Status
Active
Added
Feb 24, 2026
Last Refreshed
Jul 03, 2026 06:17:28 PM
Listing Information
Data Source
Central Panhandle Association of REALTORS
Source Property ID
785643
Listing Agent: Chris M Shelton 850-896-2000
Broker: Beachy Beach Real Estate 850-527-5651 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: Beachy Beach Real Estate 850-527-5651 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.
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