Three-Story Office
For Sale
$3,200,000
16901 Pc Bch Parkway, Panama City Beach, FL 32413
CommercialSale, Panama City Beach, FL
Property Size12,000 SF
Lot Size1.10 Acres
Price / SF$266.67
Days on Market389
Property Features for 16901 Pc Bch Parkway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Subdivision
El Centro Beach
Elementary school
Hutchison Beach
Middle school
Surfside
High school
Arnold
Directions
Traveling west on PCB Parkway building is on the left just before Hwy 79. Previously Vision's Bank.
Standard status
Active
APN
33478-050-000
Size
12,000 SF
Lot size
1.10 Acres
Taxes and HOA fees
Tax Description
EL CENTRO BEACH LOTS 6, 7, 8, 9 & N 20' LOTS 10 & 11 MAP 29B4 ORB 3747 P 871
Legal Description
EL CENTRO BEACH LOTS 6, 7, 8, 9 & N 20' LOTS 10 & 11 MAP 29B4 ORB 3747 P 871
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Building Details
Year built
2004
Flooring type
Carpet, Tile
Building materials
Block, Concrete, Stucco
Roof type
Metal
Listing Agency:
Counts Real Estate Group Inc
(850) 231-1483
Listed By:
Andy G Gonsalves · License #0409063
(850) 527-2639
Added: Aug 1, 2025
Changed: Aug 19
Last Checked: Aug 24 at 2:06AM
MLS# 777209
Copyright © 2026 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property is a 12,000-square-foot, three-story office building constructed in 2004. Each level measures a little over 4,000 square feet. The first and second floors are available for owner occupancy, while the third floor is leased on a long-term basis. The ground floor previously operated as a bank and includes carpet and tile flooring, electric central heating, block, concrete, and stucco construction, a metal roof, and public sewer service.
An adjoining 1.1-acre lot is included and is identified as 33478-010-000. The additional parcel provides space for parking and is described as accommodating an approximately 3,000 sq ft building or a large parking garage. The property is located on Pc Bch Parkway in Panama City Beach, between Hwy 79 and Pier Park, near City Hall.
An adjoining 1.1-acre lot is included and is identified as 33478-010-000. The additional parcel provides space for parking and is described as accommodating an approximately 3,000 sq ft building or a large parking garage. The property is located on Pc Bch Parkway in Panama City Beach, between Hwy 79 and Pier Park, near City Hall.
Key Highlights
- 12,000‑square‑foot office building with three floors, each measuring a bit over 4,000 sq ft
- First and second floors available for owner occupancy; third floor rented long term
- Adjoining 1.1‑acre lot included in the sale
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
$201,771
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
6.31%
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%
$4,035,420
$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
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
$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 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%
$4,035,420
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
Healthcare Medical
$2.40M
$2.10M – $2.80M
NOI $167,802 @ 7.0% cap · market cap 5.24%
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.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Three-story office property with owner-occupancy availability and an adjoining lot included in the sale.
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: 12,000‑square‑foot office building with three floors, each measuring a bit over 4,000 sq ft; First and second floors available for owner occupancy; third floor rented long term; Adjoining 1.1‑acre lot included in the sale
