Auto Shops and Businesses For
For Sale
$3,165,000
1220 W 19th Street, Panama City, FL 32405
Three parcels with established businesses, equipment, and prime location.
Property Size9,308 SF
Price / SF$340.03
Days on Market335
Property Features for 1220 W 19th Street
General Information
Standard status
Active
Size
9,308 SF
Property subtype
Commercial
Building Details
Year Built
1978
Listing Agency:
Compass Florida,LLC
(720) 984-5125
Listed By:
Erich R Hardy · License #SL3536321
(850) 230-4514
Source:
Cthomeseekers
Added: Sep 26, 2025
Changed: Aug 23
Last Checked: Aug 25 at 9:30AM
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 Compass Florida,LLC
Investment Insights
Based on property information with market context.
This offering includes three parcels: 1220 19th St. (13784-022-000), 1302 19th St. (13784-015-000), and 1304 19th St (13784-050-000). The property features two well-established and prosperous businesses. Included with the sale are assets such as a spray booth, car crusher, loader, a semi-truck with two flatbed trailers, two sling wreckers, one flatbed wrecker, and various tools. The property is located in Panama City, FL 32405 and has a total size of 9,308 square feet.
Key Highlights
- Two well‑established and prosperous businesses included.
- Includes a spray booth.
- Includes a car crusher.
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
$107,312
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
3.39%
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%
$2,146,240
$2.1M
Cap Rate 7%
$1,533,029
$1.5M
Cap Rate 9%
$1,192,356
$1.2M
Market Conditions
NOI Build-Up for 9,308 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
$167.5K $18.00/SF
− Vacancy
−$14.2K −$1.53/SF
EGI
$153.3K $16.47/SF
− OpEx
−$46.0K −$4.94/SF
NOI
$107.3K $11.53/SF
Area
Walton County, FL
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,146,240
Cap Rate 7%
$1,533,029
Cap Rate 9%
$1,192,356
Alternative Uses
Best Use
Retail
$1.53M
$1.34M – $1.79M
NOI $107,312 @ 7.0% cap · market cap 3.39%
Second Best
Industrial
$906.7K
$793.4K – $1.06M
NOI $63,468 @ 7.0% cap · market cap 2.01%
Theoretical Best
Office A
$2.34M
$2.05M – $2.73M
NOI $163,858 @ 7.0% cap · market cap 5.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
939
Businesses Nearby
45k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 52%
Dining 45%
Electronics 3%
Home Improvements & Furnishings 1%
Piggly Wiggly
Groceries
23,341 visits/mo
0.4 miles
McDonald's
Dining
20,114 visits/mo
0.5 miles
T-Mobile
Electronics
1,307 visits/mo
0.5 miles
Rent A Center
Home Improvements & Furnishings
374 visits/mo
0.4 miles
Demographics for 32405, FL
28,158
Population
13,585
Households
2.1
Avg Household Size
40
Median Age
29%
College-Educated
92%
High-School Grad
18.8 sq mi
ZIP Area
1,498
Density / Sq Mi
$71,002
Median Household Income
$41,867
Median Earnings
$1,418
Median Rent
$255,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Premier Window Tint and Customs — 1404 Lincoln Ave, Panama City, FL 32401
- Bill's Transmission — 1429 Balboa Ave, Panama City, FL 32401
- Toyota Parts Department — 959 W 15th St, Panama City, FL 32401
- Panama City Toyota Service Department — 959 W 15th St, Panama City, FL 32401
- Autonation Ford Service Department — 730 W 15th St, Panama City, FL 32401
Frequently Asked Questions
What type of property is this?
Auto shop - Three parcels with established businesses, equipment, and prime location.
Where is this auto shop located?
The property is located at 1220 W 19th Street Panama City, FL.
What is the asking price?
The asking price for this property is $3,165,000.
What are key features of this property?
This property features: Two well‑established and prosperous businesses included.; Includes a spray booth.; Includes a car crusher.
