209 Oleander Drive, Panama City Beach, FL 32413 (MLS# 996241)

209 Oleander Drive, Panama City Beach, FL 32413

$1,369,000

Property Type: Residential Bedrooms: 4 Baths: 4 Square Footage: 2,798 Lot Size (sq. ft.): 9,583 Status: Active

Current Price: $1,369,000 List Date: 2/25/2026 Last Modified: 4/16/2026

Description

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 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

Supplements: 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 $20,000 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, an 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!

More Information MLS# 996241

Contract Info

Listing Board: Emerald Coast List Price/SqFt: 489.28 List Date: 2026-02-25 Current Price: $1,369,000 List Price: $1,369,000

Location, Tax and Legal

Sub Area: 2724 - Beach - West Central Elementary School: West Bay Middle School: Surfside High School: Arnold Legal Description: LAGUNA BEACH ESTATES 7TH ADD LOTS 1, 2 & 3 BLK 28 LESS PRCL ORB 3499 P 1773

General Property Info

Sub-Type: Detached Single Family Design: Beach House SqFt Source: Appraiser Garage: Yes Carport: No Pool: No Pool Type: None Apx SqFt(Htd/Cooled): 2798 Bedrooms: 4 Full Baths: 3 Half Baths: 1 Total Bathrooms: 4 # Stories: 2 Year Built: 1964 Garage Spaces: 4 Acreage: 0.22

Listing Info, Tax & Legal

Is Subject Leased: No Assessment Fees: No New Buyer Fee: No Last Taxes: 4972.47 Last Tax Year: 2025 Brokerage Interest: No Interest As Is: Yes

Remarks & Misc

Remarks: 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 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

Construction Status

Construction Complete: 1

Parking Features

Garage Attached: 1 Garage Detached: 1

Lot/Parcel Access

City Road: 1 Paved Road: 1

Construction/Siding

Block: 1 Roof Metal: 1 Siding CmntFbrHrdBrd: 1

Utilities

Electric: 1 Public Sewer: 1 Public Water: 1 TV Cable: 1 Underground: 1

Zoning

Resid Multi-Family: 1

Exterior

Balcony: 1 Fenced Back Yard: 1 Hurricane Shutters: 1 Patio Covered: 1 Patio Enclosed: 1

Interior

Ceiling Crwn Molding: 1 Fireplace: 1 Floor Vinyl: 1 Furnished - None: 1 Pantry: 1 Window Treatment All: 1

Financing

Conventional: 1 VA: 1

Appliances

Cooktop: 1 Dishwasher: 1 Dryer: 1 Microwave: 1 Range Hood: 1 Refrigerator: 1 Security System: 1 Smoke Detector: 1 Stove/Oven Electric: 1 Washer: 1

Energy

AC - Central Elect: 1 Heat Cntrl Electric: 1 Heat Pump Air To Air: 1 Water Heater - Tnkls: 1

Mstr Bdrm/Mstr Bath

MBath Double Vanity: 1 MBath Shower Only: 1

Master Bedroom

First: 1 Second: 1

Bedroom

Second: 1

Kitchen

First: 1

Living Room

First: 1

Rooms

Bedroom: 1 Breakfast Room: 1 Kitchen: 1 Laundry: 1 Living Room: 1 Master Bathroom: 1 Master Bedroom: 1

Status Change Info

Status: Active

Location Tax and Legal

Area: 27 - Bay County Street #: 209 Street Name: Oleander Street Suffix: Drive State: FL Zip Code: 32413 County: Bay Project Name/Subdivision: LAGUNA BEACH ESTATES 7TH ADDN Parcel ID: 36813-000-000

Property Features

Construction Status: Construction Complete Zoning: Resid Multi-Family Parking Features: Garage Attached; Garage Detached Exterior: Balcony; Fenced Back Yard; Hurricane Shutters; Patio Covered; Patio Enclosed Interior: Ceiling Crwn Molding; Fireplace; Floor Vinyl; Furnished - None; Pantry; Window Treatment All Appliances: Cooktop; Dishwasher; Dryer; Microwave; Range Hood; Refrigerator; Security System; Smoke Detector; Stove/Oven Electric; Washer Utilities: Electric; Public Sewer; Public Water; TV Cable; Underground Energy: AC - Central Elect; Heat Cntrl Electric; Heat Pump Air To Air; Water Heater - Tnkls Master Bedroom: First; Second Bedroom: Second Kitchen: First Living Room: First Rooms: Bedroom; Breakfast Room; Kitchen; Laundry; Living Room; Master Bathroom; Master Bedroom Financing: Conventional; VA

Room Information

Kitchen Level: First Dimensions: 17 x 10 Length: 17.00 Width: 10.00 Dimensions: 17 x 10 Breakfast Room Level: First Dimensions: 19 x 10 Length: 19.00 Width: 10.00 Dimensions: 19 x 10 Master Bathroom Level: First Dimensions: 11 x 10 Length: 11.00 Width: 10.00 Dimensions: 11 x 10 Master Bedroom Level: First Dimensions: 19 x 10 Length: 19.00 Width: 10.00 Dimensions: 19 x 10 Living Room Level: First Dimensions: 14 x 10 Length: 14.00 Width: 10.00 Dimensions: 14 x 10 Master Bedroom Level: Second Dimensions: 15 x 13 Length: 15.00 Width: 13.00 Dimensions: 15 x 13 Bedroom Level: Second Dimensions: 14 x 10 Length: 14.00 Width: 10.00 Dimensions: 14 x 10 Laundry Level: First Dimensions: 11 x 11 Length: 11.00 Width: 11.00 Dimensions: 11 x 11

Listing Office: Beachy Beach Real Estate

Listing Agent: Karen K Smith

Last Updated: April - 16 - 2026

All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2026 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.