Contractor Site with Office,
For Sale
$849,000
Pending
1219 Transmitter Road, Panama City, FL 32401
1.5 acre site with office, shop, and lay-down yard.
Property Size4,162 SF
Lot Size1.49 Acres
Days on Market426
Property Features for 1219 Transmitter Road
General Information
Standard status
Pending
Size
4,162 SF
Lot size
1.49 Acres
Property subtype
Commercial
Building Details
Year Built
1964
Listing Agency:
COUNTS REAL ESTATE GROUP
(850) 248-3615
Listed By:
TIMOTHY M CARROLL · License #SL3484149
(850) 532-5878
Source:
Corcoran
Added: Aug 29, 2025
Changed: Oct 27
Last Checked: Oct 26 at 4:50PM
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 COUNTS REAL ESTATE GROUP
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Investment Insights
Based on property information with market context.
This 1.5± acre site, currently occupied by a construction contractor, is suitable for contractors seeking a location with an office building, a large parking lot, and a sizable lay-down yard. The 4,162± square foot office building features a large reception area, a conference room, eight offices, a full kitchen, and 2.5 restrooms, including two with showers. A detached 1,152± square foot shop is partially heated and cooled. The property is located north and adjacent to the new City of Springfield government complex, offering visibility and convenient access to U.S Hwy. 98, Business 98, and Hwy. 231 via Transmitter Road.
Key Highlights
- 1. 5± acre site ideal for contractors with office building, large parking lot, and huge lay‑down yard.
- Nicely appointed 4,162± s.f office building includes a large reception area, conference room, eight offices, full kitchen, and 2.5 restrooms (two with showers).
- Excellent visibility and easy access to U.S Hwy. 98, Business 98, and Hwy. 231.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,981
Cap Rate
8.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,399,620
$1.4M
Cap Rate 7%
$999,729
$999.7K
Cap Rate 9%
$777,567
$777.6K
Market Conditions
NOI Build-Up for 4,162 SF
Gross rent
$117.4K $28.20/SF
− Vacancy
−$24.1K −$5.78/SF
EGI
$93.3K $22.42/SF
− OpEx
−$23.3K −$5.60/SF
NOI
$70.0K $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 Rate 5%
$1,399,620
Cap Rate 7%
$999,729
Cap Rate 9%
$777,567
Alternative Uses
Best Use
Office B
$999.7K
$874.8K – $1.17M
NOI $69,981 @ 7.0% cap · market cap 8.24%
Second Best
Industrial
$391.7K
$342.8K – $457.0K
NOI $27,422 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,886 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
187
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Industrial property - 1.5 acre site with office, shop, and lay-down yard.
Where is this industrial property located?
The property is located at 1219 Transmitter Road Panama City, FL.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 1. 5± acre site ideal for contractors with office building, large parking lot, and huge lay‑down yard.; Nicely appointed 4,162± s.f office building includes a large reception area, conference room, eight offices, full kitchen, and 2.5 restrooms (two with showers).; Excellent visibility and easy access to U.S Hwy. 98, Business 98, and Hwy. 231.
