Auto Shop with Service
For Sale
$555,000
1900 N East Avenue, Panama City, FL 32405
CommercialSale, Panama City, FL
Property Size3,375 SF
Lot Size0.31 Acres
Price / SF$164.44
Days on Market177
Property Features for 1900 N East Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business
Subdivision
[No Recorded Subdiv]
Elementary school
Cedar Grove
Middle school
Everitt
High school
Bay
Directions
from N 231 take R on East Ave. Past Sherman R on left. From E. 15th street turn L., .5 mile on R.
Standard status
Active
APN
14818-050-000
Size
3,375 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Description
35 3S 14W -11.16- ST AND BAY DEV CO PLAT BEG 112.5' N & 550' W OF SE COR LOT 57 TH W 122.68' N 112.5' E 123.38' S 112.5' TO POB ORB 3408 P 2161
Legal Description
35 3S 14W -11.16- ST AND BAY DEV CO PLAT BEG 112.5' N & 550' W OF SE COR LOT 57 TH W 122.68' N 112.5' E 123.38' S 112.5' TO POB ORB 3408 P 2161
Building Details
Year built
1990
Flooring type
Concrete
Building materials
AluminumSiding
Roof type
Flat
Listing Agency:
Think Real Estate
(850) 270-4200
Listed By:
Kim R Johnson · License #SL 3569360
(850) 819-3296
Added: Apr 1
Changed: Sep 16
Last Checked: Sep 24 at 5:06PM
MLS# 787701
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 3,375-square-foot auto shop occupies a 0.31-acre parcel and was constructed in 1990. The building includes service bays, dedicated room for equipment, a customer service area, and office space for administrative functions. Concrete flooring, aluminum siding, and a flat roof are among the documented physical features.
The property is located at 1900 N East Avenue in Panama City, Florida, within Bay County. The site includes 123 feet of frontage, providing a defined street-facing presence for the automotive facility. Its existing layout supports vehicle service operations with separate areas for shop activity, customer interaction, and office work.
The property is located at 1900 N East Avenue in Panama City, Florida, within Bay County. The site includes 123 feet of frontage, providing a defined street-facing presence for the automotive facility. Its existing layout supports vehicle service operations with separate areas for shop activity, customer interaction, and office work.
Key Highlights
- 3,375‑square‑foot auto shop on a 0.31‑acre lot
- Service bays with space for equipment and workflow
- Customer service area and administrative office
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
$36,956
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
6.66%
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%
$739,120
$739.1K
Cap Rate 7%
$527,943
$527.9K
Cap Rate 9%
$410,622
$410.6K
Market Conditions
NOI Build-Up for 3,375 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
$57.5K $17.04/SF
− Vacancy
−$4.7K −$1.40/SF
EGI
$52.8K $15.64/SF
− OpEx
−$15.8K −$4.69/SF
NOI
$37.0K $10.95/SF
Area
Bay County, FL
Vacancy
8.20%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
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%
$739,120
Cap Rate 7%
$527,943
Cap Rate 9%
$410,622
Alternative Uses
Best Use
Retail
$527.9K
$462.0K – $615.9K
NOI $36,956 @ 7.0% cap · market cap 6.66%
Second Best
Flex RnD
$417.1K
$365.0K – $486.7K
NOI $29,199 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$983.4K
$860.4K – $1.15M
NOI $68,835 @ 7.0% cap · market cap 12.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32405, FL
28,158
Population
13,585
Households
2.1
Avg Household Size
40
Median Age
29%
College-Educated
92%
High-School Grad
18.8 sq mi
ZIP Area
1,498
Density / Sq Mi
$71,002
Median Household Income
$41,867
Median Earnings
$1,418
Median Rent
$255,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Auto shop - Functional facility includes service bays, equipment space, customer service area, and an administrative office.
Where is this auto shop located?
The property is located at 1900 N East Avenue Panama City, FL.
What is the asking price?
The asking price for this property is $555,000.
What are key features of this property?
This property features: 3,375‑square‑foot auto shop on a 0.31‑acre lot; Service bays with space for equipment and workflow; Customer service area and administrative office
