Remodeled Mixed-Use
For Sale
$525,000
5045 E Highway 98, Panama City, FL 32404
CommercialSale, Panama City, FL
Property Size1,800 SF
Lot Size0.28 Acres
Price / SF$291.67
Days on Market211
Property Features for 5045 E Highway 98
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
W H Parker
Elementary school
Tyndall Academy
Middle school
Rosenwald
High school
Rutherford
Directions
Located on North side of Business 98.
Standard status
Active
APN
25249-070-000
Size
1,800 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Description
W H PARKER PLAT-(2.95) BEG 25'S & 330'W & 507'S OF NE COR LOT 27 TH S 90' E 135' N 90' W 135' TO POB ORB 4621 P 2059
Legal Description
W H PARKER PLAT-(2.95) BEG 25'S & 330'W & 507'S OF NE COR LOT 27 TH S 90' E 135' N 90' W 135' TO POB ORB 4621 P 2059
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Building Details
Year built
1930
Flooring type
Hardwood
Roof type
Shingle
Listing Agency:
Keller Williams Success Realty · Keller Williams Realty
(850) 249-0313
Listed By:
Dennis Nelson · License #BK3379289
(850) 348-8262
Added: Mar 12
Changed: Aug 28
Last Checked: Oct 8 at 12:06AM
MLS# 786757
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 1,800-square-foot mixed-use property combines a remodeled interior with retained original details from its 1930 construction. The layout includes open areas, high ceilings, refinished wood flooring, a brick dual-sided fireplace, and a kitchen finished with granite countertops and stainless appliances. Central air, newer HVAC and water-heating equipment, hardwood flooring, a shingle roof, and public sewer support the building’s updated condition.
The property is located at 5045 E Highway 98 in Panama City, near major highways and within minutes of downtown Panama City and Tyndall Air Force Base. Its mixed-use zoning supports commercial and live-work applications, while the 0.28-acre parcel provides a fully fenced yard, front covered porch, and larger covered rear porch. The site also has room for additional structures, equipment, storage, or parking, subject to applicable requirements.
The property is located at 5045 E Highway 98 in Panama City, near major highways and within minutes of downtown Panama City and Tyndall Air Force Base. Its mixed-use zoning supports commercial and live-work applications, while the 0.28-acre parcel provides a fully fenced yard, front covered porch, and larger covered rear porch. The site also has room for additional structures, equipment, storage, or parking, subject to applicable requirements.
Key Highlights
- 1,800‑square‑foot mixed‑use property on a 0.28‑acre parcel
- Mixed‑use zoning supports commercial and live‑work applications
- Remodeled interior with refinished wood floors, high ceilings, and brick dual‑sided fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,266
Cap Rate
5.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$605,320
$605.3K
Cap Rate 7%
$432,371
$432.4K
Cap Rate 9%
$336,289
$336.3K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$50.8K $28.20/SF
− Vacancy
−$10.4K −$5.78/SF
EGI
$40.4K $22.42/SF
− OpEx
−$10.1K −$5.60/SF
NOI
$30.3K $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 Rate 5%
$605,320
Cap Rate 7%
$432,371
Cap Rate 9%
$336,289
Alternative Uses
Best Use
Office B
$432.4K
$378.3K – $504.4K
NOI $30,266 @ 7.0% cap · market cap 5.76%
Second Best
Mixed Use
$260.4K
$227.8K – $303.8K
NOI $18,225 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$524.5K
$458.9K – $611.9K
NOI $36,712 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
295
Businesses Nearby
Explore this area
Business Placement
Demographics for 32404, FL
38,186
Population
18,053
Households
2.1
Avg Household Size
40
Median Age
21%
College-Educated
87%
High-School Grad
135.1 sq mi
ZIP Area
283
Density / Sq Mi
$72,208
Median Household Income
$38,701
Median Earnings
$1,355
Median Rent
$239,700
Median Home Value
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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?
Mixed-use property - Flexible mixed-use setting with updated interiors, covered porches, and a fenced outdoor area.
Where is this mixed-use property located?
The property is located at 5045 E Highway 98 Panama City, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 1,800‑square‑foot mixed‑use property on a 0.28‑acre parcel; Mixed‑use zoning supports commercial and live‑work applications; Remodeled interior with refinished wood floors, high ceilings, and brick dual‑sided fireplace
