Panama City Beach Landmark
For Sale
$1,875,000
Pending
7724 Front Beach Road, Panama City Beach, FL 32407
1.75 acre Panama City Beach restaurant with commercial zoning.
Property Size9,113 SF
Lot Size1.75 Acres
Days on Market672
Property Features for 7724 Front Beach Road
General Information
Standard status
Pending
Size
9,113 SF
Lot size
1.75 Acres
Property subtype
Commercial
Building Details
Year Built
1985
Listing Agency:
THE PREMIER PROPERTY GROUP
(850) 213-5000
Listed By:
CHRIS J CHARLES · License #3077397
(850) 866-3720
Source:
Corcoran
Added: Dec 8, 2024
Changed: Oct 8
Last Checked: Oct 11 at 6:21AM
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 THE PREMIER PROPERTY GROUP
Investment Insights
Based on property information with market context.
This Panama City Beach landmark property, currently operating as Mikato Restaurant, occupies a 1.75-acre parcel in a prime location on the east end of Panama City Beach. The site benefits from C-3 General Commercial zoning, allowing for a density of 15 units per acre and building heights up to 230 feet. It features approximately 300 feet of frontage on Front Beach Road and 250 feet on the Thomas Drive/Bay Point exit lane of Highway 98. The daily traffic count is 25,200. The existing building is approximately 9,000 square feet with a seating capacity of 299. The property is intended for commercial use, specifically as a restaurant.
Key Highlights
- Prime 1.75‑acre location on the East end of Panama City Beach.
- C‑3 General Commercial zoning with 15 units/acre density and building height up to 230'.
- High traffic count of 25,200 vehicles daily.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$114,660
Cap Rate
6.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,293,200
$2.3M
Cap Rate 7%
$1,638,000
$1.6M
Cap Rate 9%
$1,274,000
$1.3M
Market Conditions
NOI Build-Up for 9,113 SF
Gross rent
$164.0K $18.00/SF
− Vacancy
−$11.2K −$1.22/SF
EGI
$152.9K $16.78/SF
− OpEx
−$38.2K −$4.19/SF
NOI
$114.7K $12.58/SF
Area
Bay County, FL
Vacancy
6.80%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,293,200
Cap Rate 7%
$1,638,000
Cap Rate 9%
$1,274,000
Alternative Uses
Best Use
Specialty Retail
$1.64M
$1.43M – $1.91M
NOI $114,660 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.66M
$2.32M – $3.10M
NOI $185,865 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
820
Businesses Nearby
30k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 53%
Dining 30%
Hotels & Casinos 13%
Home Improvements & Furnishings 5%
Dollar General
Shops & Services
5,149 visits/mo
0.2 miles
Little Caesars Pizza
Dining
4,576 visits/mo
0.3 miles
U-Haul
Shops & Services
3,854 visits/mo
0.1 miles
Guthrie's
Dining
3,160 visits/mo
0.2 miles
Tidal Wave Auto Spa
Shops & Services
2,939 visits/mo
0.2 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - 1.75 acre Panama City Beach restaurant with commercial zoning.
Where is this conventional restaurant located?
The property is located at 7724 Front Beach Road Panama City Beach, FL.
What is the asking price?
The asking price for this property is $1,875,000.
What are key features of this property?
This property features: Prime 1.75‑acre location on the East end of Panama City Beach.; C‑3 General Commercial zoning with 15 units/acre density and building height up to 230'.; High traffic count of 25,200 vehicles daily.
