515 Evergreen Street Panama City Beach, FL 32407
High-visibility commercial property near the beach in a thriving area.
- Added:
- Jul 21, 2025
- Days on Market:
- 356
- Last Refresh:
- May 11 at 12:54 am
Property Features for 515 Evergreen Street
General Information
- Standard status
- Active
- Size
- 5,915 SF
- Lot size
- 0.22 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 2002
Listing office GULF LIFE REAL ESTATE INC (850) 699-1996
Listing date Jul 21, 2025
Source Corcoran
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 GULF LIFE REAL ESTATE INC
Investment Insights
Based on property information with market context.
Key Highlights
- Premier location: Less than 1/4 mile from the shoreline in the heart of Panama City Beach.
- High‑traffic visibility: Located in a busy retail corridor with steady year‑round vehicle and pedestrian traffic.
- Strategic location: Surrounded by well‑known hotels, restaurants, and popular beach attractions.
Local Financial Insights For Office B
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 | $166.8k | $28.20 |
| − Vacancy | −$34.2k | −$5.78 |
| EGI | $132.6k | $22.42 |
| − OpEx | −$33.2k | −$5.60 |
| NOI | $99.5k | $16.81 |
