Versatile Mixed-Use Panama City
601 West 11th Street Panama City, FL 32401
601 West 11th Street, Panama City, FL, 32401
$499,000
For Sale
$499,000
Mixed-use property in a high-visibility, centrally-located Panama City corridor.
Property Size2,736 SF
Lot Size0.45 Acres
Price / SF$182.38
Days on Market229
Property Features for 601 West 11th Street
General Information
- Standard status
- Active
- Size
- 2,736 SF
- Lot size
- 0.45 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1967
Listing Agency
Panama City
(850) 814-4560
Listed by
Carly Sostheim · License #SL3467605
(850) 814-4560
Source
Corcoran
Added: Dec 4, 2025 Updated: Jul 6 at 10:04 am Checked: Jul 20 at 3:33 am
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 Panama City
Investment Insights
Based on property information with market context.
This mixed-use property is located in Panama City, Florida, situated on 0.45 acres in a centrally-located corridor. Zoned Mixed Use-3, the property allows for both commercial and residential uses. The property contains approximately 2,800 square feet and features one large warehouse divided into two units, each with separate entrances, individual electrical meters, and shared water/sewer. Both units include full-size garage doors, private bathrooms, and flexible layouts. Unit B also features a kitchenette. The property is fenced and provides ample parking. It offers accessibility and visibility with its central location to downtown Panama City, Highway 231 and 15th Street. The property is suitable for investors, business owners, trades, storage, flex space, or future redevelopment. The setup is ideal for an owner investor who wishes to operate out of one unit and rent the additional unit to a tenant for an income-producing property.
Key Highlights
- Prime mixed‑use property in a high‑visibility, centrally‑located corridor of Panama City, Florida.
- Zoned Mixed Use‑3, allowing for both commercial and residential uses.
- Features a 2,800 square foot warehouse divided into two units with separate entrances and individual electrical meters.
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 | $44.3k | $16.20 |
| − Vacancy | −$3.8k | −$1.38 |
| EGI | $40.6k | $14.82 |
| − OpEx | −$15.2k | −$5.56 |
| NOI | $25.3k | $9.26 |
2,736 SF · lease $16.20/SF/yr · vacancy 8.50% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$362.1K
$316.8K – $422.5K
NOI $25,347 @ 7.0% cap · market cap 5.08%
Second Best
Warehouse
$336.1K
$294.1K – $392.1K
NOI $23,527 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$688.1K
$602.1K – $802.8K
NOI $48,165 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Florida Cooling Corporation
HVAC Service
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FAQs
What type of property is this?
Mixed-use property - Mixed-use property in a high-visibility, centrally-located Panama City corridor.
Where is this mixed-use property located?
The property is located at 601 West 11th Street Panama City, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Prime mixed‑use property in a high‑visibility, centrally‑located corridor of Panama City, Florida.; Zoned Mixed Use‑3, allowing for both commercial and residential uses.; Features a 2,800 square foot warehouse divided into two units with separate entrances and individual electrical meters.
