Updated Office Units with Private
For Sale
$375,000
Pending
316 W 11th Street, Panama City, FL 32401
CommercialSale, Panama City, FL
Property Size1,674 SF
Lot Size0.34 Acres
Days on Market194
Property Features for 316 W 11th Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Business, General Commercial
Subdivision
No Named Subdivision
Elementary school
Cherry Street
Middle school
Jinks
High school
Bay
Directions
From Jenks Ave, turn onto W 11th street, property will be approx 2 blocks on the right.
Standard status
Pending
APN
18534-000-000
Size
1,674 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Description
N HIGHLAND LOTS 1,2,3 & 4 ALSO PARCEL 30' X 115' ON S SIDE BLK 3 DB 269 P 304 MAP 92A4 ORB 4353 P 1889
Legal Description
N HIGHLAND LOTS 1,2,3 & 4 ALSO PARCEL 30' X 115' ON S SIDE BLK 3 DB 269 P 304 MAP 92A4 ORB 4353 P 1889
Utilities
Sewer type
Public Sewer
Heating system
Central, Heat Pump (Heating), Electric (Heating)
Cooling system
Ceiling Fan(s), Central Air
Building Details
Year built
1959
Flooring type
Tile
Building materials
Block
Roof type
Rolled Hot Mop
Listing Agency:
Keller Williams Success Realty · Keller Williams Realty
(850) 249-0313
Listed By:
The Jarrett Group
(850) 279-5911
Added: Mar 18
Changed: Sep 18
Last Checked: Sep 27 at 3:06PM
MLS# 786992
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.
Investment Insights
Based on property information with market context.
This 1,674-square-foot office property on a 0.34-acre lot offers a practical layout for professional operations. The interior includes a reception lobby, seven private rooms or offices, a break area with kitchenette, and three bathrooms, including one with a shower. Tile flooring, central air, central heating, electric heat, and ceiling fans are in place. Block construction and a rolled hot mop roof complete the building improvements.
Located at 316 W 11th Street in Panama City, the property is near downtown and positioned in a high-traffic area. Exterior features include a newly installed parking lot and an 8-foot privacy fence around the premises. Public sewer serves the property, which was built in 1959 and previously operated as a tattoo studio.
Located at 316 W 11th Street in Panama City, the property is near downtown and positioned in a high-traffic area. Exterior features include a newly installed parking lot and an 8-foot privacy fence around the premises. Public sewer serves the property, which was built in 1959 and previously operated as a tattoo studio.
Key Highlights
- 1,674 SF office property on a 0.34‑acre lot
- Seven private rooms or offices plus a reception lobby
- Break room with kitchenette and three bathrooms, including one with a shower
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
$28,147
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
7.51%
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%
$562,940
$562.9K
Cap Rate 7%
$402,100
$402.1K
Cap Rate 9%
$312,744
$312.7K
Market Conditions
NOI Build-Up for 1,674 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
$47.2K $28.20/SF
− Vacancy
−$9.7K −$5.78/SF
EGI
$37.5K $22.42/SF
− OpEx
−$9.4K −$5.60/SF
NOI
$28.1K $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 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%
$562,940
Cap Rate 7%
$402,100
Cap Rate 9%
$312,744
Alternative Uses
Best Use
Office B
$402.1K
$351.8K – $469.1K
NOI $28,147 @ 7.0% cap · market cap 7.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$487.7K
$426.8K – $569.0K
NOI $34,142 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,287
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Flexible commercial layout includes reception, kitchenette, and three bathrooms.
Where is this office units located?
The property is located at 316 W 11th Street Panama City, FL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1,674 SF office property on a 0.34‑acre lot; Seven private rooms or offices plus a reception lobby; Break room with kitchenette and three bathrooms, including one with a shower
