Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    307 E 5Th St Panama City, FL 32401

    Sponsored
    For Sale
    $319,000

    SINGLE_FAMILY - Panama City, FL

    Type:Office
    Lot size:
    0.11 Acres
    Days on Market:
    152
    Last Refresh:
    Jan 22 at 12:06 am

    Property Features for 307 E 5Th St

    General Information

    Property type
    Residential
    Property subtype
    Office
    Standard status
    Active
    APN
    19779-000-000
    Accessibility
    Accessible Approach with Ramp
    Appliances
    ElectricWaterHeater
    Lot size
    0.11 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Central Air, Electric
    Water source
    Public

    Building Details

    Year built
    1978
    Floors in Building
    1
    Building materials
    Block, VinylSiding
    Roof type
    Metal

    We can help!

    Listing Contact
    Brenton Hitchcock

    Hitchcock Real Estate LLC (850) 866-2158 [email protected]

    Listing agent Brenton Hitchcock (850) 481-0095

    Listing date Aug 24, 2025

    Copyright © 2025 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.

    Learn more

    Property Insight Report

    Overview

    Renovated Office Space Downtown

    This commercial office space is located in downtown Panama City, Florida, adjacent to the courthouse. The property has been completely renovated, offering a modern environment suitable for businesses. The layout includes five private offices designed for functionality and comfort. A spacious conference room is available for meetings and presentations. The location is suitable for legal firms, consulting agencies, or other professional services. Upgrades include new flooring, lighting, HVAC systems, and high-end finishes throughout. The lot size is 0.11 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    CALOR BUSINESS SOLUTIONS ... Bookkeeping Service Gary Johnson Hall Labor Union Lyda Russ & Olmstead ... Insurance Agency

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Walton
    State
    Florida
    Longitude
    -85.657867
    Latitude
    30.157196

    Nearby Similar for Sale

    • $1,150,000
      Pending

      Unique Bayfront Property with Income

      Bayfront property featuring a main house and six rental units.
      6035 Bus, Panama City, FL 32404
      View Details
    • New
      $500,000
      0.40 Acres

      Dual-Home Family Retreat Near Beach

      Dual-home property near Beach Drive, ideal for living or investment.
      1016 W 12Th St, Panama City, FL 32401
      View Details
    • $1,850,000
      0.25 Acres

      Waterfront Multi-Family Investment Opportunity

      Waterfront property with new construction and income potential in Panama City.
      401 Massalina Dr, Panama City, FL 32401
      View Details
    • $699,900
      2,204 SF

      Renovated Multi-Unit Rental Property

      Turnkey, fully furnished rental property with proven rental history.
      3820 Treasure Cir, Panama City, FL 32408
      View Details
    • $694,000
      0.13 Acres

      Adorable Duplex with Multiple Possibilities

      Upgraded duplex with short-term rental potential near lagoon access.
      3707 Mystic St, Panama City, FL 32408
      View Details
    • $719,000
      Pending

      Furnished Condo with LSV Included

      Furnished 2BR/2BA condo in Prominence with LSV included.
      79 Milestone Dr, Inlet Beach, FL 32461
      View Details
    • $470,000
      Pending

      Like-New Duplex Near the Beach

      Updated duplex ideal for investors or multi-generational living.
      9020/9022 Houston St, Panama City, FL 32408
      View Details
    • $499,000
      1,920 SF

      Income-Producing Beach Duplex

      Renovated duplex near the beach, ideal for vacation rentals.
      6310 Sunset Ave, Panama City, FL 32408
      View Details
    • $1,200,000
      2,720 SF

      Lagoon Front Multi-Unit Home

      Income-producing property with three units and two boat houses.
      6722 S Lagoon Dr, Panama City, FL 32408
      View Details
    • $2,199,000
      21,184 SF

      Renovated Mixed-Use Panama City Property

      21,184 sq ft renovated commercial space on 2.5 acres.
      5420 Hickory St, Panama City, FL 32404
      View Details
    • $3,650,000
      3.74 Acres

      Panama City Commercial Opportunity

      Three parcels with established businesses and equipment for sale.
      1220 W 19Th St, Panama City, FL 32405
      View Details
    • $599,997
      0.31 Acres

      Turnkey Investment Opportunity in Panama

      Fully remodeled six-unit property generating $61,500 annual income.
      116 Springfield Ave, Panama City, FL 32401
      View Details

    FAQs

    What type of property is this?
    Office space - Completely renovated office space in downtown Panama City, Florida.
    Where is this office space located?
    The property is located at 307 E 5Th St Panama City, FL.
    What is the asking price?
    The asking price for this property is $319,000.
    What are key features of this property?
    This property features: - Prime downtown location adjacent to the courthouse, ideal for legal firms and professional services.; - Completely renovated with new flooring, lighting, HVAC systems, and high-end finishes.; - Features five private offices designed for functionality and comfort.
    (850) 738-5002
    Request Owner's contact information
    307 E 5Th St Panama City, FL 32401
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    307 E 5Th St
    Panama City, FL 32401
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    307 E 5Th St Panama City, FL 32401
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Brenton Hitchcock
    (850) 738-5002
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.