Panama City Beach Parkway
12216 Panama City Beach Parkway Panama City Beach, FL 32407
For Sale
$2,855,000
13,125 SF strip center on 1.54 acres.
Property Size13,125 SF
Lot Size1.54 Acres
Price / SF$217.52
Days on Market301
Property Features for 12216 Panama City Beach Parkway
General Information
- Standard status
- Active
- Size
- 13,125 SF
- Lot size
- 1.54 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1996
Listing Agency:
EXP REALTY LLC
(888) 883-8509
Listed By:
JUSTIN CATER LLC
Source:
Corcoran
Added: Sep 26, 2025
Changed: Jul 6
Last Checked: Jul 23 at 7:12AM
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 EXP REALTY LLC
Investment Insights
Based on property information with market context.
This 13,125 square foot metal strip center is situated on a 1.54-acre lot and contains six rental spaces of various sizes. The property is located on Panama City Beach Parkway in a high-traffic corridor central to the area's commercial activity, minutes from Pier Park. The location benefits from direct frontage on Panama City Beach Parkway, with traffic counts exceeding 100,000 cars per day, and ample on-site parking. The property is zoned C-3 commercial, accommodating a wide range of business uses. Five of the spaces are currently leased, with one space vacant.
Key Highlights
- Prime location on Panama City Beach Parkway with high visibility and over 100,000 cars per day traffic count.
- Strong income potential with five of six rental spaces currently leased.
- Versatile C‑3 commercial zoning allows for a wide range of business uses.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $223.7k | $17.04 |
| − Vacancy | −$18.3k | −$1.40 |
| EGI | $205.3k | $15.64 |
| − OpEx | −$61.6k | −$4.69 |
| NOI | $143.7k | $10.95 |
13,125 SF · lease $17.04/SF/yr · vacancy 8.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.05M
$1.80M – $2.40M
NOI $143,717 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.82M
$3.35M – $4.46M
NOI $267,692 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Strip malls
FAQs
What type of property is this?
Strip mall - 13,125 SF strip center on 1.54 acres.
Where is this strip mall located?
The property is located at 12216 Panama City Beach Parkway Panama City Beach, FL.
What is the asking price?
The asking price for this property is $2,855,000.
What are key features of this property?
This property features: Prime location on Panama City Beach Parkway with **high visibility and over 100,000 cars per day traffic count**.; **Strong income potential** with five of six rental spaces currently leased.; Versatile C‑3 commercial zoning allows for a wide range of business uses.
