Commercial Unit in Panama
For Sale
$178,871
17320 Panama City Beach Parkway, Panama City Beach, FL 32413
Commercial real estate in the heart of Panama City Beach.
Property Size800 SF
Price / SF$223.59
Days on Market411
Property Features for 17320 Panama City Beach Parkway
General Information
Standard status
Active
Size
800 SF
Property subtype
Office
Amenities
Electric
3
Hardwood, Concrete
Building Details
Year Built
1985
Listing Agency:
Superior Of Florida, LLC.
(850) 896-1225
Listed By:
Ron Jones · License #3396113
(850) 896-1225
Source:
Xome
Added: Jul 11, 2025
Changed: Aug 25
Last Checked: Aug 25 at 5:20AM
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 Superior Of Florida, LLC.
Investment Insights
Based on property information with market context.
This commercial unit, situated in Panama Plaza, presents an opportunity to own commercial real estate in an area experiencing substantial growth in Panama City Beach. The location is near an 87-acre research hospital and other developments. The unit is in excellent condition. The average daily traffic count is 45,500 vehicles. The tenant is responsible for electricity, internet, and phone, while all other expenses are covered under the common area maintenance fee. The property size is 800 square feet. The owner will finance with a qualified buyer. This property is suitable for business use.
Key Highlights
- Owner financing available to qualified buyers.
- High traffic location: 45,500 vehicles daily.
- Prime commercial real estate in Panama City Beach's growing area.
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
$13,451
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
7.52%
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%
$269,020
$269.0K
Cap Rate 7%
$192,157
$192.2K
Cap Rate 9%
$149,456
$149.5K
Market Conditions
NOI Build-Up for 800 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
$22.6K $28.20/SF
− Vacancy
−$4.6K −$5.78/SF
EGI
$17.9K $22.42/SF
− OpEx
−$4.5K −$5.60/SF
NOI
$13.5K $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%
$269,020
Cap Rate 7%
$192,157
Cap Rate 9%
$149,456
Alternative Uses
Best Use
Office B
$192.2K
$168.1K – $224.2K
NOI $13,451 @ 7.0% cap · market cap 7.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$233.1K
$204.0K – $271.9K
NOI $16,316 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
448
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 units - Commercial real estate in the heart of Panama City Beach.
Where is this office units located?
The property is located at 17320 Panama City Beach Parkway Panama City Beach, FL.
What is the asking price?
The asking price for this property is $178,871.
What are key features of this property?
This property features: Owner financing available to qualified buyers.; High traffic location: **45,500 vehicles daily**.; Prime commercial real estate in Panama City Beach's growing area.
