Prime Location Commercial
For Sale
$3,200,000
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
Price / SF$247.75
Days on Market383
Property Features for 16901 Pc Bch Parkway
General Information
Standard status
Active
Size
12,916 SF
Lot size
1.10 Acres
Property subtype
Commercial
Amenities
Metal Roof
Carpet Flooring
Central Heating
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 #BK409063
Source:
Corcoran
Added: Aug 6, 2025
Changed: Aug 23
Last Checked: Aug 23 at 6:58AM
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 = 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
$217,173
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
6.79%
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%
$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
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
$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 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%
$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.
