Prime Location Commercial
For Sale
$3,200,000
Pending
16901 Pc Bch Parkway, Panama City Beach, FL 32413
Three-story building with additional lot for expansion or parking.
Property Size12,916 SF
Lot Size1.10 Acres
Days on Market432
Property Features for 16901 Pc Bch Parkway
General Information
Standard status
Pending
Size
12,916 SF
Lot size
1.10 Acres
Property subtype
Commercial
Amenities
Central air
Metal Roof
Carpet Flooring
Central Heating
CentralAir Cooling
Electric Heating
Tile Flooring
Building Details
Year Built
2004
Listing Agency:
COUNTS REAL ESTATE GROUP INC
(850) 231-1483
Listed By:
ANDY G GONSALVES · License #0409063
(850) 527-2639
Source:
Corcoran
Added: Aug 6, 2025
Changed: Oct 11
Last Checked: Oct 11 at 6:40AM
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 COUNTS REAL ESTATE GROUP INC
Investment Insights
Based on property information with market context.
This commercial property features a three-story building with each floor measuring over 4,000 square feet, totaling 12,916 square feet. The ground floor, previously a bank, could be operational again within a short timeframe. The third floor is currently occupied by a long-term tenant. Included in the sale is an adjacent lot, identified as 33478-010-000, suitable for parking or the construction of an additional building of approximately 3,000 square feet to increase property income. The additional lot could also accommodate a large parking garage, potentially allowing for the expansion of the existing building and increasing usable square footage. The property is strategically located between Highway 79 and Pier Park, near the City Hall and within minutes of the new hospital on Highway 79.
Key Highlights
- Premier location strategically located between Hwy 79 and Pier Park, close to City Hall and the new hospital.
- Owner financing available with acceptable terms.
- Additional lot included, suitable for building a 3000 sq ft structure or a large parking garage.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$217,173
Cap Rate
6.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,343,460
$4.3M
Cap Rate 7%
$3,102,471
$3.1M
Cap Rate 9%
$2,413,033
$2.4M
Market Conditions
NOI Build-Up for 12,916 SF
Gross rent
$364.2K $28.20/SF
− Vacancy
−$74.7K −$5.78/SF
EGI
$289.6K $22.42/SF
− OpEx
−$72.4K −$5.60/SF
NOI
$217.2K $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%
$4,343,460
Cap Rate 7%
$3,102,471
Cap Rate 9%
$2,413,033
Alternative Uses
Best Use
Office B
$3.10M
$2.71M – $3.62M
NOI $217,173 @ 7.0% cap · market cap 6.79%
Second Best
Retail
$2.02M
$1.77M – $2.36M
NOI $141,429 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$3.76M
$3.29M – $4.39M
NOI $263,429 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Three-story building with additional lot for expansion or parking.
Where is this office building located?
The property is located at 16901 Pc Bch Parkway 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 strategically located between Hwy 79 and Pier Park, close to City Hall and the new hospital.; Owner financing available with acceptable terms.; Additional lot included, suitable for building a 3000 sq ft structure or a large parking garage.
