Automotive Service and Showroom
704 W 15th Street Panama City, FL 32405
704 W 15th Street, Panama City, FL, 32405
Contact for pricing
For Sale
Contact for pricing
Corner automotive facility includes an office/showroom and service garage on an improved parcel plus adjacent expansion land.
Property Size20,007 SF
Lot Size8.09 Acres
Price / SF$174.94
Days on Market135
Property Features for 704 W 15th Street
General Information
- Standard status
- Active
- Size
- 20,007 SF
- Lot size
- 8.09 Acres
- Property subtype
- Business for Sale
Building Details
- Year Built
- 1995
Listing Agency
Nations Real Estate, Inc
(850) 785-2233
Listed by
Darren Haiman
Source
Crexi
Added: Mar 8 Updated: Jul 20 at 5:35 pm Checked: Jul 20 at 5:35 pm
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 Nations Real Estate, Inc
Investment Insights
Based on property information with market context.
704 W 15th Street is a fully improved automotive commercial property built for immediate operation, with an office/showroom building and a fully equipped automotive service garage on an improved parcel. The offering also includes a second, contiguous parcel to support additional uses such as inventory staging, overflow parking, or future development.
The property is located at a prominent corner with access from both Highway 98 (15th Street) and Florida Avenue Showcase, supporting straightforward customer and vehicle ingress/egress. It sits among established dealership activity along Panama City’s well-known automotive retail corridor in Bay County.
With two contiguous parcels totaling approximately 8.09 acres, this site combines dealer-ready facilities with meaningful additional land for growth or redevelopment planning.
The property is located at a prominent corner with access from both Highway 98 (15th Street) and Florida Avenue Showcase, supporting straightforward customer and vehicle ingress/egress. It sits among established dealership activity along Panama City’s well-known automotive retail corridor in Bay County.
With two contiguous parcels totaling approximately 8.09 acres, this site combines dealer-ready facilities with meaningful additional land for growth or redevelopment planning.
Key Highlights
- 704 W 15th St is an automotive commercial property with a 1995‑built office/showroom and fully equipped service garage on a 2.53‑acre improved parcel
- Two contiguous parcels total approximately 8.09 acres (2.53 AC improved | 5.56 AC additional) for expansion, staging, overflow parking, or future development
- Prominent corner location with access from both Hwy 98 (15th St) and Florida Avenue for two points of ingress/egress
Local Financial Insights For Retail
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 | $360.1k | $18.00 |
| − Vacancy | −$30.6k | −$1.53 |
| EGI | $329.5k | $16.47 |
| − OpEx | −$98.9k | −$4.94 |
| NOI | $230.7k | $11.53 |
20,007 SF · lease $18.00/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.30M
$2.88M – $3.84M
NOI $230,661 @ 7.0% cap · market cap 6.59%
Second Best
Industrial
$1.95M
$1.71M – $2.27M
NOI $136,422 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$5.03M
$4.40M – $5.87M
NOI $352,203 @ 7.0% cap · market cap 10.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Mlk Food Mart
Grocery & Convenience Store
Similar For Sale Nearby
Similar Off Market Nearby
- Aftermath Hot Rods — 214 Business Park Dr, Lynn Haven, FL 32444
- Tire Kingdom — 2112 FL-77, Lynn Haven, FL 32444
- Lynn Haven Windshield Replacement & Repair — 1720 tennessee ave, lynn haven, fl 32444
- Doc's Tire Repair Inc — 307 E 17th St, Lynn Haven, FL 32444
- Panhandle Performance — 106 Peachtree Dr # 596, Lynn Haven, FL 32444
FAQs
What type of property is this?
Auto shop - Corner automotive facility includes an office/showroom and service garage on an improved parcel plus adjacent expansion land.
Where is this auto shop located?
The property is located at 704 W 15th Street Panama City, FL.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 704 W 15th St is an automotive commercial property with a 1995‑built office/showroom and fully equipped service garage on a 2.53‑acre improved parcel; Two contiguous parcels total approximately 8.09 acres (2.53 AC improved | 5.56 AC additional) for expansion, staging, overflow parking, or future development; Prominent corner location with access from both Hwy 98 (15th St) and Florida Avenue for two points of ingress/egress
