Panama City Shopping Center For
615 Highway 231, Panama City, FL 32405
54,027 SF shopping center with stable income and upside.
Property size:
54,027 SFLot size:
5.18 AcresPrice / SF:
$120/SF- Added:
- Mar 10, 2026
- Days on Market:
- 66
- Last Refresh:
- Mar 16 at 10:57 am
Property Features for 615 Highway 231
General Information
- Standard status
- Active
- Size
- 54,027 SF
- Lot size
- 5.18 Acres
Building Details
- Year Built
- 1968
Listing agent TAMMY R HUSTON License ##SL3513905
Listing office NAI TALCOR (850) 249-2879
Listing date Mar 10, 2026
Source Corcoran
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 NAI TALCOR
HighLights
- 83.13% Occupied with Stable In‑Place Income
- +/-54,027 SF Neighborhood Shopping Center on +/-5.18 Acres
- Multiple Access Points (Hwy 231, Hwy 77 & 19th Street)
- +/-9,114 SF Office Vacancy - Lease Upside Opportunity
- New Roof and HVAC installed 2019
- Proximity to Bay County's healthcare and employment hubs (HCA Florida Gulf Coast Hospital, Ascension Sacred Heart, and Tyndall Air Force Base)
Overview
The property is a neighborhood shopping center with a size of approximately 54,027 square feet, situated on 5.18 acres along Highway 231 in Panama City. The location benefits from multiple access points on major roads, including Highway 231, Highway 77, and a separate lighted intersection at 19th Street. The center is positioned to serve the daily retail and service needs of nearby neighborhoods, while also benefiting from its proximity to Bay County's healthcare and employment centers. The property is currently 83.13% occupied, providing stable in-place income, with an additional upside through approximately 9,114 square feet of available office space. Panama City has a diversified economic base supported by healthcare, tourism, retail, and a military presence. Major employers such as HCA Florida Gulf Coast Hospital, Ascension Sacred Heart, and Tyndall Air Force Base provide a stable employment foundation that supports consistent consumer activity. A new roof and HVAC system were installed in 2019. The parking ratio is 4.37:1000. Financials and rent roll are available upon request.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Shopping centers
Similar Places Nearby
- Gilberg's Plaza — 2421 FL-77, Panama City, FL 32405
- Mariner Plaza — 615 US-231, Panama City, FL 32405
- PCB Office — 625 US-231, Panama City, FL 32405
- Bay City Point — 500 E 23rd St, Panama City, FL 32405
- Panama City Mall — 2150 Martin Luther King Jr Blvd, Panama City, FL 32405
Location Insight
- Map
- Local Demand
- City
- Panama City
- County
- Walton
- State
- Florida
- Longitude
- -85.6530156
- Latitude
- 30.1821071
Nearby Similar for Sale
FAQs
What type of property is this?
Shopping center - 54,027 SF shopping center with stable income and upside.
Where is this shopping center located?
The property is located at 615 Highway 231 Panama City, FL.
What is the asking price?
The asking price for this property is $6,493,000.
What are key features of this property?
This property features: 83.13% Occupied with Stable In‑Place Income; +/-54,027 SF Neighborhood Shopping Center on +/-5.18 Acres; Multiple Access Points (Hwy 231, Hwy 77 & 19th Street)
