Three-Story Office
For Sale
$3,200,000
Pending
16901 Pc Bch Parkway, Panama City Beach, FL 32413
CommercialSale, Panama City Beach, FL
Property Size11,310 SF
Lot Size1.10 Acres
Days on Market419
Property Features for 16901 Pc Bch Parkway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Subdivision
El Centro Beach
Elementary school
Hutchison Beach
Middle school
Surfside
High school
Arnold
Directions
Traveling west on PCB Parkway building is on the left just before Hwy 79. Previously Vision's Bank.
Standard status
Pending
APN
33478-050-000
Size
11,310 SF
Lot size
1.10 Acres
Taxes and HOA fees
Tax Description
EL CENTRO BEACH LOTS 6, 7, 8, 9 & N 20' LOTS 10 & 11 MAP 29B4 ORB 3747 P 871
Legal Description
EL CENTRO BEACH LOTS 6, 7, 8, 9 & N 20' LOTS 10 & 11 MAP 29B4 ORB 3747 P 871
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Building Details
Year built
2004
Flooring type
Carpet, Tile
Building materials
Block, Concrete, Stucco
Roof type
Metal
Listing Agency:
Counts Real Estate Group Inc
(850) 231-1483
Listed By:
Andy G Gonsalves · License #0409063
(850) 527-2639
Added: Aug 1, 2025
Changed: Sep 12
Last Checked: Sep 23 at 2:06AM
MLS# 777209
Copyright © 2026 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-story office property contains 11,310 square feet, with each floor measuring 3,770 square feet. The first and second floors are available for owner occupancy, while the third floor is leased on a long-term basis. The ground floor previously operated as a bank and includes a configuration that could support renewed operations within 30–45 days. Block, concrete, and stucco construction is complemented by tile and carpet flooring, central air, central electric heating, and a metal roof.
An adjoining 1.1-acre lot is included in the sale and is identified as 33478-010-000. The additional parcel provides space for parking and approximately 3,000 square feet of future building area. The property is positioned between Hwy 79 and Pier Park, near City Hall and the new hospital on Hwy 79, with public sewer service in place.
An adjoining 1.1-acre lot is included in the sale and is identified as 33478-010-000. The additional parcel provides space for parking and approximately 3,000 square feet of future building area. The property is positioned between Hwy 79 and Pier Park, near City Hall and the new hospital on Hwy 79, with public sewer service in place.
Key Highlights
- 11,310‑square‑foot office building with three 3,770‑square‑foot floors
- First and second floors available for owner occupancy
- Third floor leased on a long‑term basis
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$190,169
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,803,380
$3.8M
Cap Rate 7%
$2,716,700
$2.7M
Cap Rate 9%
$2,112,989
$2.1M
Market Conditions
NOI Build-Up for 11,310 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$318.9K $28.20/SF
− Vacancy
−$65.4K −$5.78/SF
EGI
$253.6K $22.42/SF
− OpEx
−$63.4K −$5.60/SF
NOI
$190.2K $16.81/SF
Area
Bay County, FL
Vacancy
20.50%
Lease Rate
$28.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,803,380
Cap Rate 7%
$2,716,700
Cap Rate 9%
$2,112,989
Alternative Uses
Best Use
Office B
$2.72M
$2.38M – $3.17M
NOI $190,169 @ 7.0% cap · market cap 5.94%
Second Best
Healthcare Medical
$2.26M
$1.98M – $2.64M
NOI $158,153 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$3.30M
$2.88M – $3.84M
NOI $230,674 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
Explore this area
Business Placement
Demographics for 32413, FL
15,217
Population
16,334
Households
0.9
Avg Household Size
50
Median Age
34%
College-Educated
94%
High-School Grad
108.2 sq mi
ZIP Area
141
Density / Sq Mi
$76,010
Median Household Income
$41,282
Median Earnings
$1,629
Median Rent
$384,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Owner-occupancy space is available across the first and second floors.
Where is this office building located?
The property is located at 16901 Pc Bch Parkway Panama City Beach, FL.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 11,310‑square‑foot office building with three 3,770‑square‑foot floors; First and second floors available for owner occupancy; Third floor leased on a long‑term basis
