Retail Building on US Hwy
For Sale
$4,450,000
14501 Panama City Beach Pkwy, Panama City Beach, FL 32413
Freestanding retail building with frontage on US Hwy 98.
Property Size11,233 SF
Days on Market279
Property Features for 14501 Panama City Beach Pkwy
General Information
Standard status
Active
Size
11,233 SF
Property subtype
Retail
Building Details
Building Size
11,233 SF
Listing Agency:
Graham & Company Birmingham
(850) 348-0808
Listed By:
Kevin Williams, CCIM
Source:
Grahamcompany
Added: Nov 21, 2025
Changed: Aug 26
Last Checked: Aug 26 at 10:01AM
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 Graham & Company Birmingham
Investment Insights
Based on property information with market context.
This freestanding retail building, formerly a restaurant, is situated with frontage on US Hwy 98, also known as Panama City Beach Parkway. The property features a full kitchen build-out and includes two freezer/coolers. Located on Panama City Beach Parkway, the site benefits from accessibility for both east and westbound traffic due to a median cut. It is positioned less than a block from the intersection of Nautilus Street and Panama City Beach Parkway and approximately one mile from Pier Park, a large open-air lifestyle center offering over 1 million square feet of shopping, dining, and entertainment. The property encompasses a total of 11,200 square feet on a 3.67-acre site. There are 153 parking spots available, including 5 handicap spaces.
Key Highlights
- High‑traffic location on Panama City Beach Parkway (US Hwy 98) with accessibility for both east and westbound traffic.
- Large 3.67‑acre site with 153 parking spots.
- Existing restaurant infrastructure including a full kitchen build‑out, (2) walk‑in coolers, and a full hood.
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
$141,334
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
3.18%
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%
$2,826,680
$2.8M
Cap Rate 7%
$2,019,057
$2.0M
Cap Rate 9%
$1,570,378
$1.6M
Market Conditions
NOI Build-Up for 11,233 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
$202.2K $18.00/SF
− Vacancy
−$13.7K −$1.22/SF
EGI
$188.4K $16.78/SF
− OpEx
−$47.1K −$4.19/SF
NOI
$141.3K $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 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%
$2,826,680
Cap Rate 7%
$2,019,057
Cap Rate 9%
$1,570,378
Alternative Uses
Best Use
Specialty Retail
$2.02M
$1.77M – $2.36M
NOI $141,334 @ 7.0% cap · market cap 3.18%
Second Best
Retail
$1.76M
$1.54M – $2.05M
NOI $123,000 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$3.27M
$2.86M – $3.82M
NOI $229,104 @ 7.0% cap · market cap 5.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
333
Businesses Nearby
16k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 51%
Dining 40%
Beauty & Spa 10%
Chevron
Shops & Services
7,101 visits/mo
0.4 miles
Carrabba's Italian Grill
Dining
6,248 visits/mo
0.2 miles
Palm Beach Tan
Beauty & Spa
1,518 visits/mo
0.3 miles
The UPS Store
Shops & Services
929 visits/mo
0.3 miles
Demographics for 32413, FL
15,217
Population
16,334
Households
0.9
Avg Household Size
50
Median Age
34%
College-Educated
94%
High-School Grad
108.2 sq mi
ZIP Area
141
Density / Sq Mi
$76,010
Median Household Income
$41,282
Median Earnings
$1,629
Median Rent
$384,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Restaurant - Freestanding retail building with frontage on US Hwy 98.
Where is this restaurant located?
The property is located at 14501 Panama City Beach Pkwy Panama City Beach, FL.
What is the asking price?
The asking price for this property is $4,450,000.
What are key features of this property?
This property features: High‑traffic location on Panama City Beach Parkway (US Hwy 98) with accessibility for both east and westbound traffic.; Large 3.67‑acre site with **153 parking spots**.; Existing restaurant infrastructure including a **full kitchen build‑out, (2) walk‑in coolers, and a full hood**.
