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Versatile Commercial Space Near Hospital
For Lease
$28 SF/Yr NNN

2402 State Avenue, Panama City, FL 32405

Class A commercial spaces for medical, office, fitness, or retail.

Space SizeContact for details
Days on Market159

Property Features for 2402 State Avenue

General Information

Standard status Active
Property subtype Office
Listing Agency: NAI TALCOR - West FL Office
Listed By: Wendy Partie · License #FL #3580252
Source: Naiglobal
Added: Mar 6 Changed: Jul 10 Last Checked: Aug 12 at 4:42AM

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 NAI TALCOR - West FL Office

Investment Insights

Based on property information with market context.

This Class A commercial development at 2402 State Avenue offers two leasing opportunities. The first is approximately 9,219 square feet of first-floor space suitable for medical or office use. The second is an approximately 14,500-square-foot space planned as a full-service fitness facility. Architectural plans for the fitness space include three dedicated pickleball courts and an elevated indoor walking/running track. The adaptable open layout is suitable for a gym, wellness operator, recreation concept, or other commercial uses. Both spaces can accommodate medical, professional office, fitness, or retail tenants. The building is currently under construction with delivery scheduled for Q1 2026, allowing tenants to customize their interiors. The property is located near HCA Florida Gulf Coast Hospital and surrounded by established medical and professional offices. It benefits from strong visibility, convenient access, and high daily traffic from nearby 23rd Street, which sees approximately 34,500 vehicles per day. Ample on-site parking and prominent signage opportunities are available. The location is ideal for healthcare providers, professional service firms, fitness operators, and retail concepts. The property is proximate to HCA Florida Gulf Coast Hospital and surrounded by medical offices, professional services, retail centers, and restaurants. Its central location provides easy connectivity to Harrison Avenue, Highway 231, and other major thoroughfares, ensuring strong traffic flow and accessibility. Spaces are offered at $28.00 per square foot NNN, with tenant-controlled interior build-outs.

Key Highlights

  • Customizable Interiors: Tenants can fully customize their spaces to meet exact operational, branding, and design needs.
  • Prime Location: Located blocks from HCA Florida Gulf Coast Hospital with strong visibility and high daily traffic (AADT ±34,500).
  • Flexible Use: Suitable for medical, professional office, fitness, or retail users.

Property Analytics

Current Use

Medical Office Space

Suggested Use

Top Pick HVAC Service Auto Parts Store Parking Lot & Garage (Bike/Boat/Book/etc) Store Grocery & Convenience Store Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

NNN (Triple Net)
Lease Type

Location Intelligence

Trade Area within ½ mile

1,576
Businesses Nearby
Well-served
Demand for This Use

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

Market

Lease Benchmarks for Panama City, FL

$19.32 /SF/Yr
Avg Asking Price
$15.13–$28 /SF/Yr
Price Range
4,253 SF
Avg Space Size

This space is priced 45% above the average of $19.32 /SF/Yr.

Vacancy Rate% for Office in South region

14.4% 2019
16.4% 2020
17.3% 2021
18% 2022
18.6% 2023
20.3% 2024
20.2% 2025
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Frequently Asked Questions

What type of property is this?
Medical Office Space - Class A commercial spaces for medical, office, fitness, or retail.
Where is this medical office space located?
The property is located at 2402 State Avenue Panama City, FL.
What is the lease rate?
The lease rate is $28 SF/Yr.
What are key features of this property?
This property features: Customizable Interiors: Tenants can fully customize their spaces to meet exact operational, branding, and design needs.; Prime Location: Located blocks from HCA Florida Gulf Coast Hospital with strong visibility and high daily traffic (AADT ±34,500).; Flexible Use: Suitable for medical, professional office, fitness, or retail users.
More about this property
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