Iconic Rooftop
436 Harrison Avenue #400 Panama City, FL 32401
436 Harrison Avenue #400, Panama City, FL, 32401
$1,100,000
For Sale
$1,100,000
Structurally impressive rooftop ready for development in downtown Panama City.
Property Size6,000 SF
Lot Size0.15 Acres
Price / SF$183.33
Days on Market160
Property Features for 436 Harrison Avenue #400
General Information
- Standard status
- Active
- Size
- 6,000 SF
- Lot size
- 0.15 Acres
- Property subtype
- Commercial
Listing Agency
COUNTS REAL ESTATE GROUP INC
(850) 249-3615
Listed by
CHRISTOPHER S MCCALL · License #666647
Source
Corcoran
Added: Feb 10 Updated: Jul 6 at 10:09 am Checked: Jul 19 at 4:32 am
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 structurally impressive building in Bay County, known as the Mashburn Building, is constructed entirely of poured concrete, providing exceptional strength and durability. Recent steel reinforcement further enhances the structure, making it suitable for various development concepts. The rooftop, spanning approximately 6,000 square feet, is accessible via two staircases and an elevator. Its structural integrity allows for the addition of multiple stories, accommodating concepts such as residential condos above a restaurant or bar. Preliminary concept plans for a rooftop restaurant and bar are available. The rooftop offers panoramic views stretching from the Hathaway Bridge and Saint Andrews across downtown to Thomas Drive, Front Beach Road, Tyndall Air Force Base, and Callaway. All major utilities required for a restaurant, bar, or additional residential units are stubbed to the roof for easy connection. There are no stormwater requirements, and shared downtown parking is available. The first floor commercial space is also listed for sale. This space presents an opportunity to create an iconic destination that could redefine downtown Panama City's skyline and nightlife.
Key Highlights
- Extremely strong, reinforced poured concrete construction (foundation to roof) capable of supporting multiple stories.
- Enjoy +/-6,000 sq ft rooftop space with panoramic views of the Florida Panhandle.
- All major utilities are already stubbed to the roof for easy connection.
Local Financial Insights For Specialty Retail
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 | $129.6k | $21.60 |
| − Vacancy | −$7.8k | −$1.30 |
| EGI | $121.8k | $20.30 |
| − OpEx | −$30.5k | −$5.08 |
| NOI | $91.4k | $15.23 |
6,000 SF · lease $21.60/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.31M
$1.14M – $1.52M
NOI $91,368 @ 7.0% cap · market cap 8.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,624 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Bars & Pubs
Similar For Sale Nearby
Similar Off Market Nearby
- Vittles Catering — 508 Harmon Ave, Panama City, FL 32401
FAQs
What type of property is this?
Restaurant - Structurally impressive rooftop ready for development in downtown Panama City.
Where is this restaurant located?
The property is located at 436 Harrison Avenue #400 Panama City, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Extremely strong, reinforced poured concrete construction (foundation to roof) capable of supporting multiple stories.; Enjoy +/-6,000 sq ft rooftop space with panoramic views of the Florida Panhandle.; All major utilities are already stubbed to the roof for easy connection.
