Prime Panama City Beach
For Sale
$3,200,000
16901 Panama City Beach Pkwy, Panama City Beach, FL 32413
Bank building with income potential near Pier Park and Hwy 79.
Property Size12,000 SF
Price / SF$266.67
Days on Market216
Property Features for 16901 Panama City Beach Pkwy
General Information
Standard status
Active
Size
12,000 SF
Listing Agency:
Counts Real Estate Group Inc
(850) 231-1483
Listed By:
Andy G Gonsalves · License #0409063
(850) 527-2639
Source:
Exprealty
Added: Mar 26
Changed: Oct 26
Last Checked: Oct 26 at 6:57PM
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 Counts Real Estate Group Inc
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 property, previously a bank building, is located in a prime location between Hwy 79 and Pier Park, close to the City Hall and within minutes of the new hospital on Hwy 79. Owner financing is available with acceptable terms. The ground floor, formerly a bank, could be operational within 30-45 days. The second and third floors are currently rented long term. The main building features three floors, each a bit over 4000 sq ft. An additional lot is included in the sale, providing parking and enough space to build approximately an additional 3000 sq ft building to increase property income. The sale includes adjoining lot identified as 33478-010-000. The property offers potential for income generation from tenants.
Key Highlights
- Premier location between Hwy 79 and Pier Park, near City Hall and the new hospital.
- Owner financing available with acceptable terms.
- Income‑generating potential with existing long‑term tenants on the second and third floors.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$201,771
Cap Rate
6.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,035,420
$4.0M
Cap Rate 7%
$2,882,443
$2.9M
Cap Rate 9%
$2,241,900
$2.2M
Market Conditions
NOI Build-Up for 12,000 SF
Gross rent
$338.4K $28.20/SF
− Vacancy
−$69.4K −$5.78/SF
EGI
$269.0K $22.42/SF
− OpEx
−$67.3K −$5.60/SF
NOI
$201.8K $16.81/SF
Area
Bay County, FL
Vacancy
20.50%
Lease Rate
$28.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,035,420
Cap Rate 7%
$2,882,443
Cap Rate 9%
$2,241,900
Alternative Uses
Best Use
Office B
$2.88M
$2.52M – $3.36M
NOI $201,771 @ 7.0% cap · market cap 6.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.50M
$3.06M – $4.08M
NOI $244,747 @ 7.0% cap · market cap 7.65%
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
475
Businesses Nearby
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
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Bank building with income potential near Pier Park and Hwy 79.
Where is this office building located?
The property is located at 16901 Panama City Beach Pkwy Panama City Beach, FL.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Premier location between Hwy 79 and Pier Park, near City Hall and the new hospital.; Owner financing available with acceptable terms.; Income‑generating potential with existing long‑term tenants on the second and third floors.
