Professional Office Building with
For Sale
Contact for pricing
Pending
10010 Hutchison Boulevard, Panama City Beach, FL 32407
Office building with flexible layout, private offices, conference room, and onsite parking for tenant operations.
Property Size3,179 SF
Days on Market95
Property Features for 10010 Hutchison Boulevard
General Information
Standard status
Pending
Size
3,179 SF
Property subtype
Office
Additional Details
Office Units
15
Building Details
Year Built
1977
Listing Agency:
RC Real Estate Group
Listed By:
Ric Holt · License #BK3228641
(850) 630-4306
Source:
Crexi
Added: Jun 10
Changed: Sep 10
Last Checked: Sep 12 at 6:12AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RC Real Estate Group
Investment Insights
Based on property information with market context.
This professional office building includes an entrance reception and lobby area, 11 offices on the downstairs level, and an upstairs level with four additional offices. The interior also features a conference room, three restrooms, a kitchen/breakroom, a copier supply room, and multiple storage closets and storage areas.
Parking is provided in both the front and back of the building, supporting convenient access for employees and visitors. The property has lighted signage on Hutchison Blvd and landscaping around the building, contributing to strong curb appeal. The current use is as a real estate company, with the space described as offering many possible uses for different businesses.
With multiple office rooms, a reception area, and a conference room, this layout suits a variety of professional tenants that need both client-facing space and private work areas. The combination of on-site parking and lighted signage can support day-to-day business visibility and ease of access.
Parking is provided in both the front and back of the building, supporting convenient access for employees and visitors. The property has lighted signage on Hutchison Blvd and landscaping around the building, contributing to strong curb appeal. The current use is as a real estate company, with the space described as offering many possible uses for different businesses.
With multiple office rooms, a reception area, and a conference room, this layout suits a variety of professional tenants that need both client-facing space and private work areas. The combination of on-site parking and lighted signage can support day-to-day business visibility and ease of access.
Key Highlights
- Office building built in 1977 with a flexible layout for professional uses
- Downstairs includes 11 offices plus reception/lobby, conference room, kitchen breakroom, and storage areas
- Three restrooms, a copier supply room, and multiple storage closets/areas on the main level
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
$53,453
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
5.78%
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%
$1,069,060
$1.1M
Cap Rate 7%
$763,614
$763.6K
Cap Rate 9%
$593,922
$593.9K
Market Conditions
NOI Build-Up for 3,179 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
$89.6K $28.20/SF
− Vacancy
−$18.4K −$5.78/SF
EGI
$71.3K $22.42/SF
− OpEx
−$17.8K −$5.60/SF
NOI
$53.5K $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%
$1,069,060
Cap Rate 7%
$763,614
Cap Rate 9%
$593,922
Alternative Uses
Best Use
Office B
$763.6K
$668.2K – $890.9K
NOI $53,453 @ 7.0% cap · market cap 5.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$926.3K
$810.5K – $1.08M
NOI $64,838 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
15
Office units
Location Intelligence
Trade Area within ½ mile
744
Businesses Nearby
Explore this area
Business Placement
Demographics for 32407, FL
14,366
Population
12,163
Households
1.2
Avg Household Size
41
Median Age
40%
College-Educated
96%
High-School Grad
14.9 sq mi
ZIP Area
964
Density / Sq Mi
$79,052
Median Household Income
$44,027
Median Earnings
$1,792
Median Rent
$403,500
Median Home Value
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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 - Office building with flexible layout, private offices, conference room, and onsite parking for tenant operations.
Where is this office building located?
The property is located at 10010 Hutchison Boulevard Panama City Beach, FL.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Office building built in 1977 with a flexible layout for professional uses; Downstairs includes 11 offices plus reception/lobby, conference room, kitchen breakroom, and storage areas; Three restrooms, a copier supply room, and multiple storage closets/areas on the main level
