Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    401 E 23rd Street unit E & F Panama City, FL 32405

    View on Map
    For Lease
    $15 SF/Yr

    COMMERCIAL - Panama City, FL

    Type:Retail
    Property size:
    17,577 SF
    Added:
    Nov 12, 2025
    Days on Market:
    140
    Last Refresh:
    Apr 1 at 3:06 pm

    Property Features for 401 E 23rd Street unit E & F

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Standard status
    Active
    APN
    12976-070-000
    Size
    17,577 SF

    Taxes and HOA fees

    TaxDescription
    28 3S 14W -107.48- 104B ST AND BAY DEV CO PLAT COM AT SW COR OF SEC N 660.11' E 50' TO E R/W HARRISON AV CONT E 602.79' FOR POB N 216.41' E 281' S 316.72' W 3.67' S 230.10' TO S LINE LOT 119 W 272.42' N 329.69' W 11.51' TO POB ORB 3989 P 784

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central

    Building Details

    Year built
    2005
    Floors in Building
    1

    We can help!

    Listing Contact
    Brian Hinton
    Brian Hinton

    Listing agent Brian Hinton License #3066285

    Listing office ERA Neubauer Real Estate, Inc 3434 Highway 77, Panama City, FL

    Listing date Nov 12, 2025

    MLS# 781567

    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.

    Overview

    Retail Space in Panama City

    This is a retail space featuring an open span layout, a small office, a receiving/breakroom area, and two bathrooms. Previously home to The Sewing Center, the space is now available for rent. The property is located in Panama City, Florida, just west of the Home Depot. It offers ample parking and security lighting. The property size is 17577 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Emerald Coast Hospice Nursing Home Rockstar Real Estate ... Real Estate Agency Keller Williams Realty: ... Real Estate Agency Jim's Vacuum & Sewing ... (Bike/Boat/Book/etc) Store The Cafe Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Walton
    State
    Florida
    Longitude
    -85.655878
    Latitude
    30.191182

    Nearby Similar for Lease

    • Contact for pricing

      Unique Commercial Property in Panama City

      Custom mixed-use property with luxury finishes and multiple entrances.
      854 Magnolia Avenue, Panama City, FL 32401
      View Details
    • Contact for pricing

      Professional Office Suite For Rent

      Professional office suite in a convenient Panama City location.
      215 W 11th Street unit: C, Panama City, FL 32401
      View Details
    • Contact for pricing

      Versatile Commercial Building on Highway 77

      4,800 SF steel building on 1.24 acres with frontage.
      13919 Highway 77, Panama City, FL 32409
      View Details
    • Contact for pricing

      Panama City Office Space Available

      Well-located office building ideal for small businesses or professional services.
      309 E 7th Street, Panama City, FL 32401
      View Details
    • $24/mo

      Retail Space in Panama City

      Retail space available for lease in Panama City, Florida.
      133 S Tyndall Parkway unit: 101, Panama City, FL 32404
      View Details
    • $16/mo

      Retail Center in Panama City

      Retail space available in Panama City, Florida.
      133 S Tyndall Parkway unit: 200, Panama City, FL 32404
      View Details
    • $21/mo

      Retail Center in Panama City

      Retail spaces available in upcoming Panama City shopping center.
      133 S Tyndall Parkway unit: 102-107, Panama City, FL 32404
      View Details
    • $24/mo

      Retail Space in Panama City

      Retail space available for lease in Panama City, Florida.
      133 S Tyndall Parkway unit: 108, Panama City, FL 32404
      View Details
    • $12/mo

      Retail Center in Panama City

      52,000 SF retail center, opening Spring 2027.
      133 S Tyndall Parkway unit: 100, Panama City, FL 32404
      View Details
    • $22/mo

      Retail Center in Panama City

      Retail spaces available in Panama City, FL, opening Spring 2027.
      133 S Tyndall Parkway unit: 201-217, Panama City, FL 32404
      View Details
    • Contact for pricing

      Unique Mixed-Use Property For Rent

      Custom property with modern amenities, suitable for commercial or residential use.
      5045 E Highway 98, Panama City, FL 32404
      View Details
    • $21/mo

      Downtown Panama City Office Space

      Professional office space in downtown Panama City for lease.
      455 Harrison Avenue unit: C, Panama City, FL 32401
      View Details

    FAQs

    What type of property is this?
    Retail space - Open span retail space with office, breakroom, and bathrooms.
    Where is this retail space located?
    The property is located at 401 E 23rd Street unit E & F Panama City, FL.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: Prime retail space location west of Home Depot.; Open span layout suitable for various retail uses.; Includes small office, receiving/breakroom area, and two bathrooms.
    (850) 527-6393
    We can help!
    Listing Contact
    Brian Hinton
    Brian Hinton
    Real Estate License ID: 3066285
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!