Auto Shop with Heated
For Sale
$999,900
5500 E Hwy 98 Bus, Panama City, FL 32404
CommercialSale, Panama City, FL
Property Size3,360 SF
Lot Size0.93 Acres
Price / SF$297.59
Days on Market341
Property Features for 5500 E Hwy 98 Bus
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business, General Commercial
Subdivision
Crown Point
Elementary school
Tyndall
Middle school
Everitt
High school
Rutherford
Directions
Located on the intersection of Business Hwy 98 and Tyndall Parkway (Hwy 98)
Standard status
Active
APN
26035-000-000
Size
3,360 SF
Lot size
0.93 Acres
Taxes and HOA fees
Tax Description
CROWN POINT REPLAT 119D1 LOT 14-A BLK C
Legal Description
CROWN POINT REPLAT 119D1 LOT 14-A BLK C
Utilities
Sewer type
Public Sewer
Building Details
Year built
2020
Floors in Building
2
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Overstreet Realty
(850) 774-0402
Listed By:
Cathy J Jones · License #SL0690927
(850) 814-0733
Added: Nov 5, 2025
Changed: Aug 19
Last Checked: Oct 12 at 5:06AM
MLS# 781277
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 auto-oriented commercial property includes a 3,360-square-foot building completed in 2020, with 1,000 square feet of heated and cooled interior space. The improvements include permanent structures and lifts, while some inventory may convey. A metal roof and public sewer are also in place.
The parcel measures 0.93 acres and has road frontage on three sides, including approximately 184 feet along Hwy 98. Reported average daily traffic is more than 19,000 vehicles on Tyndall Parkway/Hwy 98 and 7,900 on E. Business 98. The property is positioned along the business corridor serving Parker and provides access toward Tyndall Air Force Base and Mexico Beach.
Development standards allow buildings up to 60 feet or six stories, with 10-foot setbacks on three sides and maximum lot coverage of 90%.
The parcel measures 0.93 acres and has road frontage on three sides, including approximately 184 feet along Hwy 98. Reported average daily traffic is more than 19,000 vehicles on Tyndall Parkway/Hwy 98 and 7,900 on E. Business 98. The property is positioned along the business corridor serving Parker and provides access toward Tyndall Air Force Base and Mexico Beach.
Development standards allow buildings up to 60 feet or six stories, with 10-foot setbacks on three sides and maximum lot coverage of 90%.
Key Highlights
- 3,360 SF building completed in 2020
- 1,000 SF of heated and cooled space
- 0.93‑acre parcel with frontage on 3 sides
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,792
Cap Rate
3.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$735,840
$735.8K
Cap Rate 7%
$525,600
$525.6K
Cap Rate 9%
$408,800
$408.8K
Market Conditions
NOI Build-Up for 3,360 SF
Gross rent
$57.3K $17.04/SF
− Vacancy
−$4.7K −$1.40/SF
EGI
$52.6K $15.64/SF
− OpEx
−$15.8K −$4.69/SF
NOI
$36.8K $10.95/SF
Area
Bay County, FL
Vacancy
8.20%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$735,840
Cap Rate 7%
$525,600
Cap Rate 9%
$408,800
Alternative Uses
Best Use
Retail
$525.6K
$459.9K – $613.2K
NOI $36,792 @ 7.0% cap · market cap 3.68%
Second Best
Industrial
$316.2K
$276.7K – $369.0K
NOI $22,137 @ 7.0% cap · market cap 2.21%
Theoretical Best
Office A
$979.0K
$856.6K – $1.14M
NOI $68,529 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
188
Businesses Nearby
7k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Exxon
Shops & Services
3,992 visits/mo
0.3 miles
AutoZone
Shops & Services
2,772 visits/mo
0.5 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Auto shop - Commercial parcel with a metal-roof building, public sewer, and frontage along established business routes.
Where is this auto shop located?
The property is located at 5500 E Hwy 98 Bus Panama City, FL.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: 3,360 SF building completed in 2020; 1,000 SF of heated and cooled space; 0.93‑acre parcel with frontage on 3 sides
