Office Building with MU-3
For Sale
$499,000
2356 Frankford Avenue, Panama City, FL 32405
CommercialSale, Panama City, FL
Property Size1,875 SF
Lot Size1.03 Acres
Price / SF$266.13
Days on Market47
Property Features for 2356 Frankford Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Office/Prof
Subdivision
[No Recorded Subdiv]
Elementary school
Northside
Middle school
Jinks
High school
Bay
Directions
On 23rd go to Frankford Avenue and head North. About two blocks on your left side.
Standard status
Active
APN
26739-000-000
Size
1,875 SF
Lot size
1.03 Acres
Taxes and HOA fees
Tax Description
25 3S 15W -9- BEG 780' N & 49.32' W OF SE COR OF SEC TH N 180' W 250' S 180' E 250' TO POB ORB 4527 P 81
Legal Description
25 3S 15W -9- BEG 780' N & 49.32' W OF SE COR OF SEC TH N 180' W 250' S 180' E 250' TO POB ORB 4527 P 81
Utilities
Cooling system
Central Air
Amenities
kitchen
fireplace
ADT alarm system
garage
solar panels
Building Details
Year built
1963
Floors in Building
1
Building materials
Brick
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(850) 234-6696
Listed By:
Frank Trenholm
(850) 774-8944
Added: Sep 4
Changed: Oct 2
Last Checked: Oct 20 at 11:06AM
MLS# 795043
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.
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Investment Insights
Based on property information with market context.
This 1,875-square-foot office building occupies a 1.03-acre corner parcel and was originally built as a residence. Its layout includes four private offices, a reception area, open work space, a conference area with a fireplace, a kitchen with dining space, storage and a garage. Brick construction and central air are also in place.
Updates completed in 2018 included a roof, windows, doors and interior paint; solar panels were installed more recently. The property is zoned MU-3. The garage can serve as storage or workspace, and the site provides parking along with a possible area for staging materials.
Updates completed in 2018 included a roof, windows, doors and interior paint; solar panels were installed more recently. The property is zoned MU-3. The garage can serve as storage or workspace, and the site provides parking along with a possible area for staging materials.
Key Highlights
- 1,875‑square‑foot office property on a 1.03‑acre corner lot
- MU‑3 zoning
- Four private offices, reception area and open workspace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,527
Cap Rate
6.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$630,540
$630.5K
Cap Rate 7%
$450,386
$450.4K
Cap Rate 9%
$350,300
$350.3K
Market Conditions
NOI Build-Up for 1,875 SF
Gross rent
$52.9K $28.20/SF
− Vacancy
−$10.8K −$5.78/SF
EGI
$42.0K $22.42/SF
− OpEx
−$10.5K −$5.60/SF
NOI
$31.5K $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 Rate 5%
$630,540
Cap Rate 7%
$450,386
Cap Rate 9%
$350,300
Alternative Uses
Best Use
Office B
$450.4K
$394.1K – $525.5K
NOI $31,527 @ 7.0% cap · market cap 6.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$546.3K
$478.0K – $637.4K
NOI $38,242 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
630
Businesses Nearby
Explore this area
Business Placement
Demographics for 32405, FL
28,158
Population
13,585
Households
2.1
Avg Household Size
40
Median Age
29%
College-Educated
92%
High-School Grad
18.8 sq mi
ZIP Area
1,498
Density / Sq Mi
$71,002
Median Household Income
$41,867
Median Earnings
$1,418
Median Rent
$255,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - A converted residence offers private offices, shared work areas, a conference room, kitchen and garage.
Where is this office building located?
The property is located at 2356 Frankford Avenue Panama City, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 1,875‑square‑foot office property on a 1.03‑acre corner lot; MU‑3 zoning; Four private offices, reception area and open workspace
