Versatile Commercial Property in Panama
1331 Harrison Avenue, Panama City, FL 32401
New
Showroom, warehouse, and office space suitable for various business operations.
Type:Commercial
Property size:
11,171 SFLot size:
0.55 AcresPrice / SF:
$223/SF- Added:
- May 22, 2026
- Days on Market:
- 7
- Last Refresh:
- May 27 at 7:20 am
Property Features for 1331 Harrison Avenue
General Information
- Standard status
- Active
- Size
- 11,171 SF
- Lot size
- 0.55 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 2021
Listing agent THE SANCHEZ GROUP
Listing office THINK REAL ESTATE (850) 270-4200
Listing date May 22, 2026
Source Corcoran
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
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.
- 1,391 SF mezzanine for organized storage or workspace expansion.
- Professionally finished 1,153 SF showroom ideal for retail, client meetings.
- Strategically located in a growing Panama City commercial corridor.
Overview
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.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$1.56M
NOI $140,755 @ 9.00% cap · cautious / downside scenario
Moderate
$2.01M
NOI $140,755 @ 7.00% cap · market / base-case scenario
Aggressive
$2.82M
NOI $140,755 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $234.6k | $21.00 |
| − Vacancy | −$46.9k | −$4.20 |
| EGI | $187.7k | $16.80 |
| − OpEx | −$46.9k | −$4.20 |
| NOI | $140.8k | $12.60 |
11,171 SF · lease $21.00/SF/yr · vacancy 20.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$2.01M
$1.76M – $2.35M
NOI $140,755 @ 7.0% cap · market cap 5.63%
Second Best
Retail
$1.84M
$1.61M – $2.15M
NOI $128,790 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$2.81M
$2.46M – $3.28M
NOI $196,654 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Panama City Hot ...
Factory
PcSnkrs
Clothing & Fashion Store
Panama City Hot ...
Factory
McLeod's Glass & Supply
Hardware & Home Improvement
Similar Places Nearby
- Vittles Catering — 508 Harmon Ave, Panama City, FL 32401
Location Insight
- Map
- Local Demand
- City
- Panama City
- County
- Walton
- State
- Florida
- Longitude
- -85.660535
- Latitude
- 30.1726991
Nearby Similar for Sale
FAQs
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 Avenue 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.
