Renovated Mixed-Use Commercial
5420 Hickory Street Panama City, FL 32404
5420 Hickory Street, Panama City, FL, 32404
$2,180,000
For Sale
$2,180,000
21,184 sq ft mixed-use property in Panama City, FL.
Property Size21,184 SF
Lot Size2.50 Acres
Price / SF$102.91
Days on Market165
Property Features for 5420 Hickory Street
General Information
- Standard status
- Active
- Size
- 21,184 SF
- Lot size
- 2.50 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1988
Listing agency
LEGACY PREMIER AGENCY
(850) 468-2100
Listed by
KURT FADDEN
Source
Corcoran
Added: Feb 6 Updated: Jul 6 at 10:01AM Checked: Jul 21 at 5:59AM
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 LEGACY PREMIER AGENCY
Investment Insights
Based on property information with market context.
This commercial property in Panama City, FL, offers 21,184 sq ft of space under roof on a 2.5-acre lot. Zoned for mixed use, the property is suitable for a variety of businesses. It has been fully renovated post-hurricane and features a new 24-gauge standing seam metal roof. The building is constructed with red iron clear span beams, allowing for easy interior modifications. The interior includes multiple reception areas, executive offices, and a kitchenette. The open footprint of the building allows for a wide range of uses for a multitude of businesses. A separate entrance on the left side allows for potential subletting. The parking lot accommodates 4 spaces per 1000 sq ft with room to expand. All utilities are easily accessible, and open roof access allows for modifications.
Key Highlights
- 21,184 sq ft of under roof space on a 2.5‑acre lot provides ample space.
- Zoned for mixed use, offering flexibility.
- Fully renovated post‑hurricane with a new 24‑gauge standing seam metal roof.
Local Financial Insights For Mixed Use
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 | $343.2k | $16.20 |
| − Vacancy | −$29.2k | −$1.38 |
| EGI | $314.0k | $14.82 |
| − OpEx | −$117.8k | −$5.56 |
| NOI | $196.3k | $9.26 |
21,184 SF · lease $16.20/SF/yr · vacancy 8.50% · expense 37.50%
Alternative Uses
Best Use
Office B
$3.81M
$3.34M – $4.45M
NOI $266,918 @ 7.0% cap · market cap 12.24%
Second Best
Retail
$3.49M
$3.05M – $4.07M
NOI $244,230 @ 7.0% cap · market cap 11.20%
Theoretical Best
Office A
$5.33M
$4.66M – $6.22M
NOI $372,923 @ 7.0% cap · market cap 17.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Impact Promotions
Event Planning
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FAQs
What type of property is this?
Mixed-use property - 21,184 sq ft mixed-use property in Panama City, FL.
Where is this mixed-use property located?
The property is located at 5420 Hickory Street Panama City, FL.
What is the asking price?
The asking price for this property is $2,180,000.
What are key features of this property?
This property features: 21,184 sq ft of under roof space on a 2.5‑acre lot provides ample space.; Zoned for mixed use, offering flexibility.; Fully renovated post‑hurricane with a new 24‑gauge standing seam metal roof.
