Versatile Commercial Property in Panama
For Sale
$2,500,000
1331 Harrison Ave, Panama City, FL 32401
Showroom, warehouse, and office space suitable for various business operations.
Property Size11,171 SF
Lot Size0.55 Acres
Price / SF$223.79
Days on Market142
Property Features for 1331 Harrison Ave
General Information
Standard status
Active
Size
11,171 SF
Lot size
0.55 Acres
Building Details
Year Built
2021
Listing Agency:
Think Real Estate
Listed By:
The Sanchez Group
(850) 276-1030
Source:
Bemajorteam
Added: May 27
Changed: Oct 5
Last Checked: Oct 7 at 4:45PM
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 Think Real Estate
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Investment Insights
Based on property information with market context.
Located in Panama City, the commercial property at 1331 Harrison Ave offers approximately 11,171 square feet of showroom, warehouse, and office space. It is designed to support a variety of business operations. The property includes a customer-facing showroom, an expansive warehouse with mezzanine storage, dedicated office and reception areas, and building infrastructure. It is suited for owner-users, fabricators, distributors, light industrial operators, automotive or service businesses, or investors. The building features a 7,134 square foot warehouse with ceilings approaching 21 feet, providing vertical storage capacity. The open-span warehouse layout accommodates industrial or commercial uses, with sealed concrete floors. A 1,391 square foot mezzanine adds usable square footage for inventory storage, supplies, archives, or workspace expansion. At the front of the building, a 1,153 square foot showroom features stained and sealed concrete floors, acoustic drop ceilings, and LED pendant lighting. Adjacent spaces include a dedicated reception, private office, filing area, vacuum room, and ADA-compliant restrooms. The building has Kingspan insulated metal wall and roof panels. The property includes a 600-amp, 240/120V 3-phase electrical service. The 24,000 square foot site features ADA-accessible parking, on-street parking, professional landscaping, and concrete drives, engineered to current Florida Building Code with hurricane-rated structural design.
Key Highlights
- Brand new construction (2021) featuring premium Kingspan® insulated metal panels.
- Versatile space with approximately 11,171 SF including showroom, warehouse with 21‑foot ceilings, mezzanine, and dedicated office areas.
- High‑capacity infrastructure: 600‑amp, 240/120V 3‑phase electrical service.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,645
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,932,900
$1.9M
Cap Rate 7%
$1,380,643
$1.4M
Cap Rate 9%
$1,073,833
$1.1M
Market Conditions
NOI Build-Up for 11,171 SF
Gross rent
$156.8K $14.04/SF
− Vacancy
−$8.2K −$0.73/SF
EGI
$148.7K $13.31/SF
− OpEx
−$52.0K −$4.66/SF
NOI
$96.6K $8.65/SF
Area
Bay County, FL
Vacancy
5.20%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,932,900
Cap Rate 7%
$1,380,643
Cap Rate 9%
$1,073,833
Alternative Uses
Best Use
Flex RnD
$1.38M
$1.21M – $1.61M
NOI $96,645 @ 7.0% cap · market cap 3.87%
Second Best
Industrial
$1.05M
$920.0K – $1.23M
NOI $73,601 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$3.25M
$2.85M – $3.80M
NOI $227,839 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,046
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- PoFolks Restaurant — 989 15th st, panama city, fl 32401
Frequently Asked Questions
What type of property is this?
Flex space - Showroom, warehouse, and office space suitable for various business operations.
Where is this flex space located?
The property is located at 1331 Harrison Ave Panama City, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Brand new construction (2021) featuring premium Kingspan® insulated metal panels.; Versatile space with approximately 11,171 SF including showroom, warehouse with 21‑foot ceilings, mezzanine, and dedicated office areas.; High‑capacity infrastructure: 600‑amp, 240/120V 3‑phase electrical service.
