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5220 Cherry St, Panama City, FL, 32404

3beds
2baths
1,400sqft
$280,000
$200price/sqft
$2,277/moest. monthly cost
$91,080/yrincome needed

About This Home

Opportunities like this are exceptionally rare -- a beautifully remodeled property with MIXED USE zoning that allows you to legally LIVE and WORK in the same space. Whether you're an entrepreneur, small business owner, creative professional, investor, or simply someone who wants flexibility for the future, this property delivers a lifestyle and business opportunity that's hard to duplicate. Perfectly positioned near Tyndall Air Force Base and just off busy Tyndall Parkway, the location offers both convenience and visibility with strong traffic counts for potential business exposure. Unlike standard commercial zoning, the Mixed-Use designation in this area allows residential occupancy -- giving you the freedom to operate a business without sacrificing the comfort of home. Inside, the remodel is nothing short of brilliant. Every inch of the space has been thoughtfully reimagined for maximum functionality, flow, and style. The main area of this home features a living room, dining area, remodeled kitchen with quartz countertops and new stainless appliance package and 2 bedrooms and 2 full baths, including a stunning newly created primary suite complete with an ensuite bath and walk-in closet. On the opposite side of the home, on the other side of the living room, there is a separate flex space with an oversized closet and an exterior door that walks out into the carport, which creates endless possibilities. Use it as a private third bedroom, client office, salon studio, creative workspace, consultation room, boutique, or home-based business -- all without clients or customers ever needing to enter your main living space. It's the ideal setup for maintaining both professionalism and privacy. Outside, the oversized corner lot adds even more value and versatility. The fully fenced yard with front and side gates provides security and functionality, while the drive-through carport and generous parking areas make access easy for personal vehicles, trailers, work trucks, or business clients. There's plenty of room here to truly make the property work for your lifestyle. Additional features include: huge corner lot with excellent accessibility; fully fenced with solar light post caps and multiple gated access points; large slab for the addition of a future shed; drive-through carport; working irrigation pump; flexible floor plan with residential and business potential; excellent visibility and convenience near shopping, dining, and Tyndall AFB; rare zoning flexibility in a rapidly growing area! This is more than just a remodeled home -- it's a smart lifestyle investment that gives you options, flexibility, visibility, and freedom all in one property.

Getting Around

62
WalkingSomewhat Walkable
23
TransitMinimal Transit
47
BikeSomewhat Bikeable

Schools

4/10
Parker Elementary SchoolGrades PK-50.7 mi
2/10
Rutherford High SchoolGrades 6-121.8 mi

Construction

Condition

  • Year built: 1959

Materials

  • Roof: Metal
  • Construction materials: Block

Type & Style

  • Home type: SingleFamily
  • Architectural style: Ranch
  • Property subType: Single Family Residence

Interior

Appliances

  • Appliances included: Electric Cooktop,Electric Oven,Electric Range,Electric Water Heater

Bedroom

  • Level: First
  • Dimensions: 9 x 21

Bedroom

  • Level: First
  • Dimensions: 10 x 11

Bedrooms & Bathrooms

  • Bedrooms: 3
  • Bathrooms: 2
  • Full bathrooms: 2

Dining Room

  • Level: First
  • Dimensions: 10 x 10

Features

  • Main Level Primary,Shower Only,Walk-In Closet(s)

Heating & Cooling

  • Heating features: Central,Electric
  • Cooling features: Central Air,Ceiling Fan(s)

Interior Area

  • Total structure area: 1,400
  • Total interior livable area: 1,400 sqft

Kitchen

  • Level: First
  • Dimensions: 10 x 10

Living Room

  • Level: First
  • Dimensions: 16 x 16

Master Bathroom

  • Level: First
  • Dimensions: 8 x 8

Master Bedroom

  • Level: First
  • Dimensions: 13 x 13

Property

Details

  • Parcel number: 24966000000

Features

  • Levels: One
  • Stories: 1
  • Pool features: Other,See Remarks
  • Patio & porch: Patio
  • Exterior features: Patio
  • Fencing: Full,Fenced

Lot

  • Lot size: 0.42 Acres
  • Features: Paved
  • Lot size dimensions: 130 x 140

Parking

  • Total spaces: 2
  • Parking features: Drive Through
  • Covered spaces: 2

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Hurricane
    HurricaneVery High
  • Lightning
    LightningVery High
  • Tornado
    TornadoRelatively High
  • Coastal Flooding
    Coastal FloodingModerate
  • Cold Wave
    Cold WaveModerate
  • Heat Wave
    Heat WaveModerate
  • Strong Wind
    Strong WindModerate
  • Tsunami
    TsunamiInsufficient Data

How This Home’s Risks Compare

Hurricane
Lightning
Tornado
Coastal Flooding
Cold Wave
Heat Wave
Strong Wind
Tsunami

FEMA Declared Disasters in Bay County and Florida

Coastal Storm
Flood
Hurricane
Severe Storm
Straight Line Winds
Tornado
Tropical Depression
Tropical Storm

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $1,415$16,980
Home Insurance *$285$3,420
Property Taxes $380$4,560
Electricity $197$2,366
Total$2,277$27,324
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$78,068/yr
40% on housing$68,310/yr
45% on housing$60,720/yr

Florida FAIR Plan Programs

Citizens Property Insurance Corporation [Florida]

Covered
WildfireWildfire
HailHail
WindWind
Visit Website →
Current Policies
Residential: 1,321,953Commercial: 13,564
Total Premiums$4.60B
Total Exposure$385.82B

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 13.3%
13.3%
0%30.0%
Electricity Growth Rate10-year average: 2.2%
2.2%
0%15.0%
Property Taxes Growth Rate2-year average: 6.0%
6.0%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$200This listing

vs Other Active Listings

Avg $/sqft

ZIP 32404$160
Bay County$242

vs Homes Sold Last Month

Median $/sqft

ZIP 32404$179
Bay County$205

Current Market Trends

Median Price Per Square Foot

The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.

Historicals for This Listing

Zestimate History ($/sqft)

Price History

DateEventPrice
2026-08-13Price change$278,000
2026-07-31Price change$280,000
2026-07-08Price change$282,500
2026-05-22Listed for sale$285,000
2025-10-03Sold$140,000
2025-09-10Pending sale$159,900
2025-08-26Price change$159,900
2025-06-09Listed for sale$169,900
2024-11-06Listing removed$189,900
2024-10-07Contingent$189,900
2024-07-31Price change$189,900
2024-04-17Listed for sale$199,900
2024-02-29Listing removed--
2023-09-22Listing removed$214,900
2023-09-21Listed for sale$214,900
2023-07-09Listing removed--
2023-06-27Listed for sale$189,900
2004-04-12Sold$88,400

For Sale by Agent

AgentJessica J Albritton
BrokerageBeachy Beach Real Estate

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