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    Waterfront Class A Law Office
    Updated: Jan 1
    Waterfront Class A Law Office

    220 Mckenzie Avenue, Panama City, FL 32401

    $2,950,000
    10,157 sqft 1.10 AC lot
    10,157 SF, two‑story Class A law office building built in 1986 on 1.1 acres
    Adjacent to the Bay County Courthouse on Massalina Bayou (less than 300' up McKenzie Avenue)
    Masonry construction with brick veneer and large windows; includes extensive wood moldings, paneling, and trim
    Interior layout features 18 private offices, 2 conference rooms, law library, open office, administration workspace, breakroom, and reception
    Renovated in 2019 after Hurricane Michael with storm‑rated impact windows/doors, new roof, new HVAC, and new flooring
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    This listing looks promising.

    Here's a quick look at some key insights for

    220 Mckenzie Avenue, Panama City, FL 32401

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    • Est. Cap Rate

      4.3%
      NOI ÷ price

    • Est. NOI

      $128K
      Annual

    • Mortgage

      $1.28M
      Jun 2016

    • Last Sold

      Jul 2025
      $625K

    • Property Type

      Commercial Office (General)
      Built 1986
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    Highway 231 Commercial Land
    Updated: May 30
    Highway 231 Commercial Land

    Star Avenue, Panama City, FL 32404

    $599,000
    2.00 AC lot
    2‑Acre Commercial Parcel on Highway 231
    Zoned General Commercial, offering outstanding flexibility
    Approximately 285 ft of frontage on Highway 231
    High traffic count: 25,000+ vehicles per day
    Located within Bay County limits
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    General Commercial Site with Rail Access
    General Commercial Site with Rail Access

    6804 Highway 231, Panama City, FL 32404

    $595,000
    7.36 AC lot

    Commercially zoned land with direct Highway 231 access and Bay Line Railroad proximity, plus a portable shed.

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    Prime Development Opportunity in Panama
    Prime Development Opportunity in Panama

    4810 W Highway 98, Panama City, FL 32401

    $2,300,000
    4.77 AC lot

    4.77 acre commercial parcel in a prime location.

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    Commercially Zoned Site on Highway
    Commercially Zoned Site on Highway

    6804 Highway 231, Panama City, FL 32404

    $595,000
    320,602 sqft 7.36 AC lot

    Commercial land with highway access and favorable zoning.

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    Waterfront Mixed-Use Development Land
    Waterfront Mixed-Use Development Land

    6135 E Highway 98, Panama City, FL 32404

    $500,000
    0.75 AC lot

    Waterfront land with mixed-use zoning, East Bay shoreline, and highway frontage for flexible residential or commercial concepts.

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    Gulf-Front Mixed-Use Land Parcel
    Gulf-Front Mixed-Use Land Parcel

    5403 Gulf Drive, Panama City, FL 32408

    $1,820,000
    0.29 AC lot

    Cleared Gulf-front land near public beach access, offered with mixed-use zoning and paved road access.

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    Commercial Land in Panama City
    Commercial Land in Panama City

    4127 W Highway 98, Panama City, FL 32401

    $1,294,000
    0.77 AC lot

    Prime commercial land with high traffic count in Panama City.

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    Retail Development Opportunity in Panama
    Retail Development Opportunity in Panama

    2732 East 15th Street, Panama City, FL 32405

    $250,000
    16,600 sqft 0.50 AC lot

    Prime corner lot in high-traffic area, ideal for retail.

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    Commercial Land with Road Frontage
    Commercial Land with Road Frontage

    4010 Thomas Drive, Panama City, FL 32408

    $649,000
    0.44 AC lot

    Commercially zoned lot with 225 feet of frontage, on-site utilities, and allowance for outside storage and most commercial uses.

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    New Warehouse with Distribution Features
    New Warehouse with Distribution Features

    Panama City, FL 32405

    $5,750,000
    30,000 sqft 4.00 AC lot

    30,000 SF warehouse with distribution and logistics features.

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    Entitled Waterfront Development Site
    Entitled Waterfront Development Site

    305 E Beach Drive, Panama City, FL 32401

    $4,500,000
    3.25 AC lot

    Entitled waterfront development land with direct Massalina Bayou frontage and a recorded, assignable development agreement.

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    High-Visibility Development Site
    High-Visibility Development Site

    2822 Martin Luther King Jr Blvd Avenue, Panama City, FL 32405

    $1,500,000
    3.40 AC lot

    A shovel-ready parcel with 220 feet of four-lane highway frontage and dual access points for flexible commercial development.

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    Waterfront Development Opportunity in Panama
    Waterfront Development Opportunity in Panama

    Fanning Bayou Drive, Panama City, FL 32409

    $5,000,000
    36 sqft

    Waterfront land suitable for development with deepwater access.

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    Prime Commercial Land Opportunity
    Prime Commercial Land Opportunity

    2406 Saint Andrews Boulevard, Panama City, FL 32405

    $875,000
    2.20 AC lot

    2.2-acre parcel ideal for development in Panama City, FL.

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    Expansive Commercial Land Opportunity
    Expansive Commercial Land Opportunity

    Hwy 231, Panama City, FL 32404

    $1,500,000
    93.00 AC lot

    Large 93-acre commercial tract with high visibility in Panama City.

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    Prime Commercial Property on Highway
    Prime Commercial Property on Highway

    2213 HWY 231, Panama City, FL 32405

    $129,900
    13,155 sqft 0.30 AC lot

    Commercial property suitable for various business ventures, high traffic.

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    Waterfront Homesite in Gated Community
    Waterfront Homesite in Gated Community

    3536 Preserve Boulevard, Panama City, FL 32408

    $1,500,000
    0.83 AC lot

    Exceptional waterfront lot in Panama City Beach's exclusive gated community.

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    Out-Parcel on Tyndall Parkway
    Out-Parcel on Tyndall Parkway

    133 S Tyndall Parkway, Panama City, FL 32404

    $750,000
    0.70 AC lot

    Commercial land for sale on busy Tyndall Parkway.

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    Entitled Waterfront Development Land
    Entitled Waterfront Development Land

    305 E Beach Drive, Panama City, FL 32401

    $4,500,000
    3.25 AC lot

    Entitled waterfront site with direct Massalina Bayou frontage and recorded, assignable development agreement in MU-3 zoning.

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    Panama City Commercial Lot For Sale
    Panama City Commercial Lot For Sale

    4620 Hwy 390 E, Panama City, FL 32404

    Contact for pricing
    2 sqft

    2.1 acre commercial lot near Tyndall Air Force Base.

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    Entitled Waterfront Development Site
    Entitled Waterfront Development Site

    305 E Beach Drive, Panama City, FL 32401

    $4,500,000
    3.25 AC lot

    Entitled mixed-use waterfront land with direct Massalina Bayou frontage and recorded development agreement.

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    Prime Panama City Development Opportunity
    Prime Panama City Development Opportunity

    4810 W Highway 98, Panama City, FL 32401

    $2,300,000
    4.77 AC lot

    4.77 acre commercial parcel in a prime location.

    View details
    C-3 Zoned Commercial Land
    C-3 Zoned Commercial Land

    4010 Thomas Drive, Panama City, FL 32408

    $649,000
    0.44 AC lot

    Commercial land with 225 feet of frontage, C-3 zoning for outside storage, and utilities available on-site.

    View details

    Panama City, FL Land Market Trends and Statistics

    Explore 400 land for sale in Panama City, FL, showcased through 400 active listings on our real estate platform. These investment opportunities span a total of 2,570,031 square feet of properties for sale, with an estimated market value of $31,762,900.

    Sale prices for lots in Panama City, FL start at $129,900, averaging $1,443,768, and reaching up to $5,750,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Commercial land 233
    Residential land & home lots 140
    Waterfront Land 96
    Industrial land 12
    Recreation land 10

    Demographics Overview

    Population 154K
    Population Growth (5Y) +1,132.7%
    Median Household Income $71,237
    College Educated 29.8%

    High-Yield Neighborhoods for Investment

    Identify Panama City submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    Glen Saint Mary $780K
    Panama City $818.4K
    Panama City Beach $19.8M

    Taxes & Financing

    Tax Rate (average for all types) 1.42%
    Property Tax per SF $28.37 per SF
    Tax Rate vs County Average 0.07 pp above county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Bay County

    New Delisted

    Total CRE Inventory on Market (SF)

    Average Property Price per SF

    For-sale pricing trends across core commercial property types in Bay County

    Residential Income

    Property Size Breakdown

    The majority of commercial real estate listings in Panama City fall within the 1 to 5 acres range.

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    Most Searched ZIP Codes in Panama City, FL

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