End-Unit Flex
169 Griffin Blvd Unit 114b, Panama City Beach, FL 32413
For Sale
$475,000
Air-conditioned commercial space combines private offices, warehouse capacity, and storage in a two-bath configuration.
Property Size2,000 SF
Price / SF$237.50
Days on Market152
Property Features for 169 Griffin Blvd Unit 114b
General Information
Standard status
Size
Property subtype
Additional Details
Conditioned Warehouse
Listing Agency:
30A Local Real Estate
Listed By:
Kim J Shelton · License FL #3435982
(850) 758-7536
Source:
Emeraldcoasthomefinder
Added: Jun 12
Changed: Nov 1
Last Checked: Nov 10 at 10:40AM
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 30A Local Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,000 SF flex-space condominium at 169 Griffin Blvd, Unit 114B, provides a balanced office and warehouse configuration. The interior includes two private offices, an entry lounge, two bathrooms, a storage room, shop area, and warehouse space. Air conditioning extends throughout the warehouse, while built-in cabinetry, granite-topped desks, an upgraded office kitchen, and wood-look luxury vinyl flooring add practical workplace improvements.
Positioned as an end unit, the property has large windows that bring natural light into the space. The layout accommodates office, showroom, storage, light industrial, contractor, and related commercial functions, with a combination of finished administrative areas and service-oriented space. The property is located in Panama City Beach, Florida.
Positioned as an end unit, the property has large windows that bring natural light into the space. The layout accommodates office, showroom, storage, light industrial, contractor, and related commercial functions, with a combination of finished administrative areas and service-oriented space. The property is located in Panama City Beach, Florida.
Key Highlights
- 2,000 SF flex‑space condominium at 169 Griffin Blvd, Unit 114B
- End‑unit position with large windows and natural light
- Entire warehouse is air‑conditioned
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,303
Cap Rate
3.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$346,060
$346.1K
Cap Rate 7%
$247,186
$247.2K
Cap Rate 9%
$192,256
$192.3K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$28.1K $14.04/SF
− Vacancy
−$1.5K −$0.73/SF
EGI
$26.6K $13.31/SF
− OpEx
−$9.3K −$4.66/SF
NOI
$17.3K $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%
$346,060
Cap Rate 7%
$247,186
Cap Rate 9%
$192,256
Alternative Uses
Best Use
Flex RnD
$247.2K
$216.3K – $288.4K
NOI $17,303 @ 7.0% cap · market cap 3.64%
Second Best
Warehouse
$216.4K
$189.4K – $252.5K
NOI $15,149 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$582.7K
$509.9K – $679.9K
NOI $40,791 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
409
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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
$384,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Flex space in Bay County, FL
Properties on Market for Flex space in Bay County
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Air-conditioned commercial space combines private offices, warehouse capacity, and storage in a two-bath configuration.
Where is this flex space located?
The property is located at 169 Griffin Blvd Unit 114b Panama City Beach, FL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 2,000 SF flex‑space condominium at 169 Griffin Blvd, Unit 114B; End‑unit position with large windows and natural light; Entire warehouse is air‑conditioned
