Retail Property Near
For Sale
$6,100,000
415 Richard Jackson Boulevard, Panama City Beach, FL 32407
Retail property with high visibility near major attractions and beach.
Property Size48,737 SF
Lot Size2.86 Acres
Price / SF$125.16
Days on Market459
Property Features for 415 Richard Jackson Boulevard
General Information
Standard status
Active
Size
48,737 SF
Lot size
2.86 Acres
Property subtype
Commercial
Building Details
Year Built
1986
Listing Agency:
NAI TALCOR
(850) 249-2879
Listed By:
ANDERSON J BROOKS · License ##SL3610747
Source:
Corcoran
Added: May 9, 2025
Changed: Aug 8
Last Checked: Aug 8 at 4:44AM
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
Investment Insights
Based on property information with market context.
This retail property is strategically positioned at the lighted intersection of Hutchison Boulevard (Middle Beach Road) and Richard Jackson Boulevard, benefiting from high visibility. It experiences adjacent FDOT AADT counts of approximately 22,000 and 44,500. The property, totaling approximately 40,113 square feet, is situated on a 2.86-acre parcel with a parking ratio of 3:100 and multiple access points. The location is approximately 0.25 miles from the beach and 3.5 miles from Pier Park, resulting in year-round traffic from tourism and a growing local population. The property benefits from its proximity to major resorts, golf courses, residential developments, and entertainment destinations and is home to a strong tenant mix.
Key Highlights
- High visibility location at a lighted intersection with significant traffic counts (AADT +/-22,000 & +/-44,500).
- Sizeable 2.86‑acre parcel with ample parking (3:100 ratio) and multiple access points.
- Proximity to the beach (0.25 miles) and Pier Park (3.5 miles), driving year‑round traffic.
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
$533,665
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
8.75%
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%
$10,673,300
$10.7M
Cap Rate 7%
$7,623,786
$7.6M
Cap Rate 9%
$5,929,611
$5.9M
Market Conditions
NOI Build-Up for 48,737 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
$830.5K $17.04/SF
− Vacancy
−$68.1K −$1.40/SF
EGI
$762.4K $15.64/SF
− OpEx
−$228.7K −$4.69/SF
NOI
$533.7K $10.95/SF
Area
Bay County, FL
Vacancy
8.20%
Lease Rate
$17.04 /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%
$10,673,300
Cap Rate 7%
$7,623,786
Cap Rate 9%
$5,929,611
Alternative Uses
Best Use
Retail
$7.62M
$6.67M – $8.89M
NOI $533,665 @ 7.0% cap · market cap 8.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$14.20M
$12.43M – $16.57M
NOI $994,020 @ 7.0% cap · market cap 16.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
852
Businesses Nearby
56k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 69%
Shops & Services 20%
Hotels & Casinos 10%
SONIC Drive In
Dining
9,870 visits/mo
0.1 miles
Taco Bell
Dining
8,713 visits/mo
0.2 miles
Waffle House
Dining
5,947 visits/mo
0.3 miles
Another Broken Egg Cafe
Dining
5,871 visits/mo
0.5 miles
BP
Shops & Services
4,863 visits/mo
0.2 miles
Demographics for 32407, FL
14,366
Population
12,163
Households
1.2
Avg Household Size
41
Median Age
40%
College-Educated
96%
High-School Grad
14.9 sq mi
ZIP Area
964
Density / Sq Mi
$79,052
Median Household Income
$44,027
Median Earnings
$1,792
Median Rent
$403,500
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?
Shopping center - Retail property with high visibility near major attractions and beach.
Where is this shopping center located?
The property is located at 415 Richard Jackson Boulevard Panama City Beach, FL.
What is the asking price?
The asking price for this property is $6,100,000.
What are key features of this property?
This property features: High visibility location at a lighted intersection with significant traffic counts (AADT +/-22,000 & +/-44,500).; Sizeable 2.86‑acre parcel with ample parking (3:100 ratio) and multiple access points.; Proximity to the beach (0.25 miles) and Pier Park (3.5 miles), driving year‑round traffic.
