Renovated Mixed-Use Commercial
5420 Hickory Street Panama City, FL 32404
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 Market171
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
Changed: Jul 6
Last Checked: Jul 27 at 8:03AM
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.
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 authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
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.
