Auto Shop With Rental
For Sale
$2,499,000
2206 W 15th Street, Panama City, FL 32401
CommercialSale, Panama City, FL
Property Size9,425 SF
Lot Size0.80 Acres
Price / SF$265.15
Days on Market178
Property Features for 2206 W 15th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
[No Recorded Subdiv]
Elementary school
Lucille Moore
Middle school
Jinks
High school
Bay
Directions
15th street to Corner of Clay Ave. Address 2206 W 15th Street.
Standard status
Active
APN
29553-000-000
Size
9,425 SF
Lot size
0.80 Acres
Taxes and HOA fees
Tax Description
36 3S 15W SE1/4 LOTS 8,9,10,11 BLK 31 ORB 3776 P 1471
Legal Description
36 3S 15W SE1/4 LOTS 8,9,10,11 BLK 31 ORB 3776 P 1471
Building Details
Year built
2005
Listing Agency:
Counts Real Estate Group Inc
(850) 249-3615
Listed By:
Eddie Tarter
(850) 258-9572
Added: Apr 15
Changed: Sep 3
Last Checked: Oct 9 at 2:06AM
MLS# 788403
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.
Built in 2005, this 9,425-square-foot automotive property on 0.8 acres includes three units. The principal space is an operating tire and auto repair facility with five bay doors, vehicle lifts, compressors, and related equipment included. Two additional units are occupied by long-term tenants, and one of those spaces has its own bay door.
The site is located at 2206 W 15th Street in Panama City, Florida, near Panama City Beach. A fully fenced outdoor area provides dedicated space for vehicle storage or fleet parking. The combination of automotive improvements, additional leased units, and enclosed exterior area supports multiple commercial functions within one property.
The site is located at 2206 W 15th Street in Panama City, Florida, near Panama City Beach. A fully fenced outdoor area provides dedicated space for vehicle storage or fleet parking. The combination of automotive improvements, additional leased units, and enclosed exterior area supports multiple commercial functions within one property.
Key Highlights
- 9,425‑square‑foot automotive property on 0.8 acres
- Three total units, including two with long‑term tenants in place
- Operating tire and auto repair facility with five bay doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$103,203
Cap Rate
4.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,064,060
$2.1M
Cap Rate 7%
$1,474,329
$1.5M
Cap Rate 9%
$1,146,700
$1.1M
Market Conditions
NOI Build-Up for 9,425 SF
Gross rent
$160.6K $17.04/SF
− Vacancy
−$13.2K −$1.40/SF
EGI
$147.4K $15.64/SF
− OpEx
−$44.2K −$4.69/SF
NOI
$103.2K $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 Rate 5%
$2,064,060
Cap Rate 7%
$1,474,329
Cap Rate 9%
$1,146,700
Alternative Uses
Best Use
Retail
$1.47M
$1.29M – $1.72M
NOI $103,203 @ 7.0% cap · market cap 4.13%
Second Best
Flex RnD
$1.16M
$1.02M – $1.36M
NOI $81,540 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$2.75M
$2.40M – $3.20M
NOI $192,228 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Service bays
Turnkey business
Opportunity
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
765
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32401, FL
20,487
Population
10,239
Households
2
Avg Household Size
42
Median Age
20%
College-Educated
86%
High-School Grad
12.5 sq mi
ZIP Area
1,639
Density / Sq Mi
$49,901
Median Household Income
$35,885
Median Earnings
$1,194
Median Rent
$207,000
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 Industrial in South region
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Similar Off Market Nearby
- Premier Window Tint and Customs — 1404 Lincoln Ave, Panama City, FL 32401
- Dover Cylinder Head — 2704 15th st, panama city, fl 32401
- Bay Town Tire Pros — 2609 W 15th St, Panama City, FL 32401
- F I Motors Muffler & Auto Repair, 15th Street, Panama City, FL — 2015 15th St, Panama City, FL 32401
- Auto Care — Panama City, FL 32401
Frequently Asked Questions
What type of property is this?
Auto shop - Three-unit commercial property combines an operating repair facility, leased spaces, and a fenced outdoor area.
Where is this auto shop located?
The property is located at 2206 W 15th Street Panama City, FL.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: 9,425‑square‑foot automotive property on 0.8 acres; Three total units, including two with long‑term tenants in place; Operating tire and auto repair facility with five bay doors
