Flex Office Warehouse with Lay-Down
17687 Ashley Drive Panama City Beach, FL 32413
For Sale
$4,950,000
Office, warehouse, and an approximate 1.9-acre lay-down yard on a 3.9-acre flex industrial site with direct heavy-equipment access.
Property Size31,220 SF
Lot Size3.90 Acres
Price / SF$158.55
Days on Market387
Property Features for 17687 Ashley Drive
General Information
- Standard status
- Active
- Size
- 31,220 SF
- Lot size
- 3.90 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 2006
Listing Agency:
EXP Realty LLC
Listed By:
Justin Cater LLC
(850) 230-4514
Source:
Cthomeseekers
Added: Jul 2, 2025
Changed: Jul 22
Last Checked: Jul 23 at 6:57AM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This flex commercial property combines professional office space, warehouse space, and outdoor lay-down area on a 3.9± acre site. The improvements include 6,820 sq. ft. of office and 24,400 sq. ft. of warehouse, supported by an approximate 1.9-acre yard designed for equipment staging and outdoor operations.
The property offers ample parking and direct access for 18-wheelers and heavy equipment. It is located in Beach Commerce Park on the West End of Panama City Beach, just off Panama City Beach Parkway (U.S. Hwy 98) and approximately one mile west of Highway 79. The site is positioned for east-west connectivity along the Parkway, with quick access north to Interstate 10 and Northwest Florida Beaches International Airport.
Owner financing is available, and the development is described as fully serviced, with public underground utilities and recorded covenants and design standards.
The property offers ample parking and direct access for 18-wheelers and heavy equipment. It is located in Beach Commerce Park on the West End of Panama City Beach, just off Panama City Beach Parkway (U.S. Hwy 98) and approximately one mile west of Highway 79. The site is positioned for east-west connectivity along the Parkway, with quick access north to Interstate 10 and Northwest Florida Beaches International Airport.
Owner financing is available, and the development is described as fully serviced, with public underground utilities and recorded covenants and design standards.
Key Highlights
- 2006‑built flex commercial/industrial property on 3.9± acres in Beach Commerce Park
- Includes 6,820 SF office space plus a 24,400 SF warehouse
- Approx. 1.9‑acre lay‑down yard for equipment staging, materials, or outdoor operations
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $438.3k | $14.04 |
| − Vacancy | −$22.8k | −$0.73 |
| EGI | $415.5k | $13.31 |
| − OpEx | −$145.4k | −$4.66 |
| NOI | $270.1k | $8.65 |
31,220 SF · lease $14.04/SF/yr · vacancy 5.20% · expense 35.00%
Alternative Uses
Best Use
Office B
$7.50M
$6.56M – $8.75M
NOI $524,941 @ 7.0% cap · market cap 10.60%
Second Best
Flex RnD
$3.86M
$3.38M – $4.50M
NOI $270,098 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$9.10M
$7.96M – $10.61M
NOI $636,750 @ 7.0% cap · market cap 12.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
FAQs
What type of property is this?
Flex space - Office, warehouse, and an approximate 1.9-acre lay-down yard on a 3.9-acre flex industrial site with direct heavy-equipment access.
Where is this flex space located?
The property is located at 17687 Ashley Drive Panama City Beach, FL.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: 2006‑built flex commercial/industrial property on 3.9± acres in Beach Commerce Park; Includes 6,820 SF office space plus a 24,400 SF warehouse; Approx. 1.9‑acre lay‑down yard for equipment staging, materials, or outdoor operations
