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    Downtown Panama City Retail Opportunity Title is generated by Realmo AI

    550 Harrison Avenue Panama, Panama City, FL 32401

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    Premier retail space in the heart of Downtown Panama City.

    Type:Street Retail
    Added:
    May 18, 2026
    Days on Market:
    13
    Last Refresh:
    May 18 at 8:06 pm

    Property Features for 550 Harrison Avenue Panama

    General Information

    Standard status
    Active
    Property subtype
    Street Retail

    Building Details

    Year Built
    1970

    Spaces For Lease

    at 550 Harrison Avenue Panama Contact us

    We can help!

    Listing Contact
    Anna Branch

    Listing agent Anna Branch

    Listing office Five Bridges Real Estate Services Co.

    Listing date May 18, 2026

    Source Thebrokerlist

    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 Five Bridges Real Estate Services Co.

    HighLights

    • Prime retail location directly on Harrison Avenue in the heart of Downtown Panama City.
    • Private gated parking lot included with the property.
    • High visibility and signage opportunities on a major downtown corridor.
    • Strong pedestrian traffic generated by downtown events and nearby businesses.
    • Surrounded by restaurants, offices, retail, entertainment, and growing residential developments.
    • Convenient access to Highway 98, 15th Street, the Panama City Marina, and surrounding neighborhoods.

    Overview

    Located on Harrison Avenue in Downtown Panama City, this retail space offers a prime opportunity. The storefront benefits from high visibility, strong pedestrian activity, and consistent vehicle traffic. It is surrounded by restaurants, entertainment venues, offices, and growing residential developments. Downtown Panama City hosts frequent festivals, parades, concerts, farmers markets, and community events. The property is suitable for boutique retail, specialty shops, service businesses, cafes, and galleries. The location provides convenient access to Highway 98, 15th Street, the Panama City Marina, and surrounding residential neighborhoods. The property includes a private gated parking lot. Water, sewage, and trash services are included. The location is within walking distance of restaurants, coffee shops, bars, boutiques, governmental offices, and Bay County administrative facilities. Continued redevelopment and investment throughout downtown continue to strengthen the area’s appeal for retailers and service-oriented businesses seeking long-term growth opportunities.
    Location Intelligence

    Current Use by Public Records

    The LH Bead Gallery (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Law Firm Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Late Bloomer Flower Shoppe — 556 Harrison Ave, Panama City, FL 32401
    • Hallmark Flower Shoppe — 702 US-98 BUS, Panama City, FL 32401

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Walton
    State
    Florida
    Longitude
    -85.6601155
    Latitude
    30.1581391

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    FAQs

    What type of property is this?
    Storefront property - Premier retail space in the heart of Downtown Panama City.
    Where is this storefront property located?
    The property is located at 550 Harrison Avenue Panama Panama City, FL.
    What are key features of this property?
    This property features: Prime retail location directly on Harrison Avenue in the heart of Downtown Panama City.; Private gated parking lot included with the property.; High visibility and signage opportunities on a major downtown corridor.
    (850) 960-3418
    We can help!
    Listing Contact
    Anna Branch
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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