Multi-Building Office and Flex
2901 W 17th Street Panama City, FL 32405
2901 W 17th Street, Panama City, FL, 32405
$1,500,000
For Sale
$1,500,000
Three-building commercial property offers heated and cooled space with offices, conference rooms, and adaptable workspace plus on-site parking.
Property Size9,050 SF
Price / SF$165.75
Days on Market92
Property Features for 2901 W 17th Street
General Information
- Standard status
- Active
- Size
- 9,050 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1950
Listing agency
KELLER WILLIAMS SUCCESS REALTY
(850) 249-0313
Listed by
WILL PENDER · License #sl3381749
Source
Corcoran
Added: Apr 23 Updated: Jul 23 at 12:27AM Checked: Jul 23 at 12:27AM
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 KELLER WILLIAMS SUCCESS REALTY
Investment Insights
Based on property information with market context.
This for-sale commercial property includes 9,000+ square feet of heated and cooled space across three buildings, providing a flexible layout with multiple private offices, conference rooms, and adaptable work areas. The configuration also includes a detached outbuilding and features gated storage yard space intended for secure storage of equipment, materials, or vehicles.
The property is located in the St. Andrews area of Panama City, Florida, just minutes from St. Andrews and within 7 miles of Panama City Beach. The setting references proximity to established businesses, marinas, parks, and dining.
On-site parking is described as abundant, intended to accommodate staff, clients, and fleet vehicles, supporting a range of office and flex-oriented operational needs.
The property is located in the St. Andrews area of Panama City, Florida, just minutes from St. Andrews and within 7 miles of Panama City Beach. The setting references proximity to established businesses, marinas, parks, and dining.
On-site parking is described as abundant, intended to accommodate staff, clients, and fleet vehicles, supporting a range of office and flex-oriented operational needs.
Key Highlights
- Three‑building commercial property with over 9,000 sq ft of heated and cooled space
- Includes multiple private offices, conference rooms, and adaptable workspace
- Gated storage yard for securing equipment, materials, or vehicles
Local Financial Insights For Office B
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 | $190.1k | $21.00 |
| − Vacancy | −$38.0k | −$4.20 |
| EGI | $152.0k | $16.80 |
| − OpEx | −$38.0k | −$4.20 |
| NOI | $114.0k | $12.60 |
9,050 SF · lease $21.00/SF/yr · vacancy 20.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.63M
$1.43M – $1.90M
NOI $114,030 @ 7.0% cap · market cap 7.60%
Second Best
Flex RnD
$1.21M
$1.06M – $1.41M
NOI $84,426 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$2.28M
$1.99M – $2.66M
NOI $159,316 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Habitat for Humanity of Bay ...
Charitable Organization
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FAQs
What type of property is this?
Office building - Three-building commercial property offers heated and cooled space with offices, conference rooms, and adaptable workspace plus on-site parking.
Where is this office building located?
The property is located at 2901 W 17th Street Panama City, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Three‑building commercial property with over 9,000 sq ft of heated and cooled space; Includes multiple private offices, conference rooms, and adaptable workspace; Gated storage yard for securing equipment, materials, or vehicles
