Versatile Mixed-Use Panama City
For Sale
$499,000
601 West 11th Street, Panama City, FL 32401
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 Market320
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
Listed By:
Carly Sostheim · License #SL3467605
(850) 814-4560
Source:
Corcoran
Added: Dec 4, 2025
Changed: Oct 6
Last Checked: Oct 19 at 6:19AM
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
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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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,702
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$554,040
$554.0K
Cap Rate 7%
$395,743
$395.7K
Cap Rate 9%
$307,800
$307.8K
Market Conditions
NOI Build-Up for 2,736 SF
Gross rent
$49.2K $18.00/SF
− Vacancy
−$4.9K −$1.80/SF
EGI
$44.3K $16.20/SF
− OpEx
−$16.6K −$6.07/SF
NOI
$27.7K $10.13/SF
Area
Bay County, FL
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$554,040
Cap Rate 7%
$395,743
Cap Rate 9%
$307,800
Alternative Uses
Best Use
Mixed Use
$395.7K
$346.3K – $461.7K
NOI $27,702 @ 7.0% cap · market cap 5.55%
Second Best
Warehouse
$296.1K
$259.1K – $345.4K
NOI $20,724 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$797.2K
$697.5K – $930.0K
NOI $55,802 @ 7.0% cap · market cap 11.18%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
839
Businesses Nearby
Explore this area
Business Placement
Demographics for 32401, FL
20,487
Population
10,239
Households
2
Avg Household Size
42
Median Age
20%
College-Educated
86%
High-School Grad
12.5 sq mi
ZIP Area
1,639
Density / Sq Mi
$49,901
Median Household Income
$35,885
Median Earnings
$1,194
Median Rent
$207,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
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.
