One of the best values for a 3-bedroom condo in Panama City Beach, this well-located 3BR/2BA second-floor residence in the gated community of Nautilus Cove offers strong appeal for both homeowners and investors. The property is currently leased with a tenant in place through June 30, 2026, providing immediate income and stability for an investment portfolio. Overlooking the resort-style pool, 212 Cape Cod Drive features a bright split-bedroom layout with a spacious living area and a well-appointed kitchen complete with granite countertops, wood cabinetry, stainless steel appliances, and a dedicated laundry room. Nautilus Cove provides desirable amenities including a clubhouse, fitness center, and playground, all within a central PCB location. Enjoy being just 5 minutes to Runaway Island and nearby beach access, 7 minutes to Pier Park, and right around the corner from Legacy Golf Club. ECP Airport is an easy 20-minute drive. With its prime location, community amenities, and rare 3-bedroom floor plan, this condo presents an excellent opportunity for long-term rental income, a low-maintenance second home, or a smart addition to an investment portfolio - while still offering exceptional value in today's market.