Two-Building Mixed-Use
For Sale
Contact for pricing
2900 East 5th Street, Panama City, FL 32401
The property offers connected utilities, city water, sewer service, and direct road access.
Property Size3,486 SF
Lot Size0.33 Acres
Price / SF$160.64
Days on Market90
Property Features for 2900 East 5th Street
General Information
Standard status
Active
Size
3,486 SF
Lot size
0.33 Acres
Property subtype
Retail, Multifamily, Mixed Use
Zoning
NG
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Opportunity Zone
No
Building Details
Buildings
2
Tenancy
Multi
Listing Agency:
ACRE Expert LLC
Listed By:
Drew Attias · License #Florida
Source:
Crexi
Added: Jun 4
Changed: Aug 30
Last Checked: Aug 30 at 3:06PM
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 ACRE Expert LLC
Investment Insights
Based on property information with market context.
Located at 2900 East 5th Street in Panama City, this mixed-use property includes 3,486 square feet across two buildings. The site encompasses 0.33 acres, or 14,375 square feet of land, and carries NG zoning. The existing improvements are identified for retail and multifamily use, providing a combination of commercial and residential income-oriented space within one property.
Infrastructure includes connected sewer, city water, and connected electric service. Road access is in place, while the site is identified as outside a flood zone and contains no wetlands. The property is situated in Bay County, Florida, within ZIP Code 32401.
Infrastructure includes connected sewer, city water, and connected electric service. Road access is in place, while the site is identified as outside a flood zone and contains no wetlands. The property is situated in Bay County, Florida, within ZIP Code 32401.
Key Highlights
- 3,486‑square‑foot mixed‑use property
- Two‑building layout
- 0.33‑acre site with 14,375 square feet of land
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
$40,190
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
7.18%
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%
$803,800
$803.8K
Cap Rate 7%
$574,143
$574.1K
Cap Rate 9%
$446,556
$446.6K
Market Conditions
NOI Build-Up for 3,486 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
$62.7K $18.00/SF
− Vacancy
−$5.3K −$1.53/SF
EGI
$57.4K $16.47/SF
− OpEx
−$17.2K −$4.94/SF
NOI
$40.2K $11.53/SF
Area
Walton County, FL
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$803,800
Cap Rate 7%
$574,143
Cap Rate 9%
$446,556
Alternative Uses
Best Use
Retail
$574.1K
$502.4K – $669.8K
NOI $40,190 @ 7.0% cap · market cap 7.18%
Second Best
Apartment 5plus
$551.5K
$482.6K – $643.5K
NOI $38,607 @ 7.0% cap · market cap 6.89%
Theoretical Best
Office A
$876.7K
$767.1K – $1.02M
NOI $61,368 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
Explore this area
Business Placement
Demographics for 32401, FL
20,487
Population
10,239
Households
2
Avg Household Size
42
Median Age
20%
College-Educated
86%
High-School Grad
12.5 sq mi
ZIP Area
1,639
Density / Sq Mi
$49,901
Median Household Income
$35,885
Median Earnings
$1,194
Median Rent
$207,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The property offers connected utilities, city water, sewer service, and direct road access.
Where is this mixed-use property located?
The property is located at 2900 East 5th Street Panama City, FL.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: 3,486‑square‑foot mixed‑use property; Two‑building layout; 0.33‑acre site with 14,375 square feet of land
