New Listing
302 Rose Lane, Panama City Beach
$975,000 - 4 Beds, 4 Baths, 2,017 Sf
MLS® # 1014736
209 Oleander Drive, Panama City Beach
$1,119,000
4 Beds
4 Baths
2,798 Sqft
.22 Acre
4 Garages
COASTAL LIVING MEETS INCOME POTENTIAL IN LAGUNA BEACH! With projected annual rental income of $85,000 from the existing residences, 209 Oleander Drive offers an exceptional opportunity to enjoy the beach while putting your investment to work. The owner currently occupies the main home, leaving substantial income potential to unlock by renting both residences.
Under 500 steps to the beach, this versatile property sits on nearly a quarter acre and combines multiple living spaces, established short-term rental history, generous storage, and flexibility for personal use or investment.
Remodeled in 2017, the main residence features bright, inviting living spaces, an open, functional flow, and a private outdoor area perfect for unwinding after the beach or entertaining guests.
The separate carriage house/ADU, built in 2023, adds immediate rental appeal and includes a two-car garage with its own entrance. Depending on your vision and needs, the carriage house garage could readily lend itself to finishing as another unit. This added opportunity could potentially bring total annual rental income up as well!
A separate 30x30 insulated workshop with plumbing already in place provides exceptional space for hobbies, vehicles, beach gear, or recreational storage.
Both residences include full appliance packages, tankless water heaters, walk-in showers, and smoke detectors. City water and sewer, one shared water/sewer bill, and two separate electric meters add everyday convenience. Whether you envision a full-time coastal home with rental income, a beach getaway that helps support itself, or a dedicated investment property, 209 Oleander Drive delivers a compelling combination of location, versatility, and income potential--with room to grow.
Schedule your private showing and discover the possibilities.
Essential Information
MLS® #1014874
Price$1,119,000
Bedrooms4
Bathrooms4.00
Full Baths3
Half Baths1
Square Footage2,798
Acres0.22
Year Built1964
TypeResidential
Sub-TypeDetached Single Family
StyleBeach House
StatusActive
Community Information
Address209 Oleander Drive
Area27 - Bay County
SubdivisionLAGUNA BEACH ESTATES 7TH ADDN
CityPanama City Beach
CountyBay
StateFL
Zip Code32413
Amenities
ParkingGarage Detached, Oversized
# of Garages4
Utilities
Electric, Public Sewer, Public Water, TV Cable, Underground
Interior
HeatingHeat Pump, Central
CoolingCentral Air
# of Stories2
Interior Features
Crown Molding, Fireplace, Pantry, Washer/Dryer Hookup
Appliances
Cooktop, Dishwasher, Dryer, Microwave, Range Hood, Refrigerator, Washer, Tankless Water Heater
Exterior
WindowsWindow Treatments
RoofMetal
ConstructionBlock, Siding CmntFbrHrdBrd
Exterior Features
Balcony, Private Yard, Hurricane Shutters, Outdoor Shower
Lot Description
Interior Lot, Within 1/2 Mile to Water
School Information
ElementaryWest Bay
MiddleSurfside
HighArnold
Additional Information
ZoningResid Multi-Family
Listing Details
OfficeKeller Williams Realty SRB
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All listings are provided courtesy of the Emerald Coast Association of Realtors, Copyright2026, All rights reserved.
Vendors Member Number : 28325
Listing information last updated on November 4th, 2026 at 5:38pm CST.
