Corner Storefront with
For Sale
$995,000
4018 W Hwy 98 St, Panama City, FL 32405
Vacant commercial building with existing signage and on-site parking along the Hwy 98 corridor.
Property Size3,706 SF
Price / SF$268.48
Days on Market59
Property Features for 4018 W Hwy 98 St
General Information
Standard status
Active
Size
3,706 SF
Site & Location
Corner Location
Yes
Highway Access
Yes
Building Details
Year Built
1978
Listing Agency:
Counts Real Estate Group Inc
(850) 231-1483
Listed By:
Andy G Gonsalves · License #BK409063
Source:
Bemajorteam
Added: Jul 3
Changed: Aug 29
Last Checked: Aug 25 at 4:05AM
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 Counts Real Estate Group Inc
Investment Insights
Based on property information with market context.
This vacant storefront property contains 3,706 square feet and was built in 1978. The building operated as a business for more than 20 years and is being offered without an occupying tenant, allowing a new operator to establish its own use. Existing signage and a substantial on-site parking area support customer access and business identification.
The property occupies a corner position along Hwy 98 in Panama City, with the corridor connecting toward St Andrews downtown and east to Tyndall. The parcel includes approximately 50 or more parking spaces and room for expansion, providing additional flexibility for future property improvements.
The property occupies a corner position along Hwy 98 in Panama City, with the corridor connecting toward St Andrews downtown and east to Tyndall. The parcel includes approximately 50 or more parking spaces and room for expansion, providing additional flexibility for future property improvements.
Key Highlights
- 3,706‑square‑foot storefront property built in 1978
- Vacant building available for a new business or venue
- Corner‑lot position along the Hwy 98 corridor
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
$42,726
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
4.29%
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%
$854,520
$854.5K
Cap Rate 7%
$610,371
$610.4K
Cap Rate 9%
$474,733
$474.7K
Market Conditions
NOI Build-Up for 3,706 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
$66.7K $18.00/SF
− Vacancy
−$5.7K −$1.53/SF
EGI
$61.0K $16.47/SF
− OpEx
−$18.3K −$4.94/SF
NOI
$42.7K $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%
$854,520
Cap Rate 7%
$610,371
Cap Rate 9%
$474,733
Alternative Uses
Best Use
Retail
$610.4K
$534.1K – $712.1K
NOI $42,726 @ 7.0% cap · market cap 4.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$932.0K
$815.5K – $1.09M
NOI $65,240 @ 7.0% cap · market cap 6.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
116
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Vacant commercial building with existing signage and on-site parking along the Hwy 98 corridor.
Where is this storefront property located?
The property is located at 4018 W Hwy 98 St Panama City, FL.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 3,706‑square‑foot storefront property built in 1978; Vacant building available for a new business or venue; Corner‑lot position along the Hwy 98 corridor
