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Panama City Beach Landmark Restaurant

7724 Front Beach Road Panama City Beach, FL 32407

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For Sale
$1,875,000

1.75 acre Panama City Beach restaurant with commercial zoning.

Type:Commercial
Property size:
9,113 SF
Lot size:
1.75 Acres
Price / SF:
$205/SF
Added:
Dec 8, 2024
Days on Market:
582
Last Refresh:
May 10 at 9:52 pm

Property Features for 7724 Front Beach Road

General Information

Standard status
Active
Size
9,113 SF
Lot size
1.75 Acres
Property subtype
Commercial

Building Details

Year Built
1985

Listing office THE PREMIER PROPERTY GROUP

Listing date Dec 8, 2024

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 THE PREMIER PROPERTY GROUP


Investment Insights

Based on property information with market context.

This Panama City Beach landmark property, currently operating as Mikato Restaurant, occupies a 1.75-acre parcel in a prime location on the east end of Panama City Beach. The site benefits from C-3 General Commercial zoning, allowing for a density of 15 units per acre and building heights up to 230 feet. It features approximately 300 feet of frontage on Front Beach Road and 250 feet on the Thomas Drive/Bay Point exit lane of Highway 98. The daily traffic count is 25,200. The existing building is approximately 9,000 square feet with a seating capacity of 299. The property is intended for commercial use, specifically as a restaurant.

Key Highlights

  • Prime 1.75‑acre location on the East end of Panama City Beach.
  • C‑3 General Commercial zoning with 15 units/acre density and building height up to 230'.
  • High traffic count of 25,200 vehicles daily.

Local Financial Insights For Specialty 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 $164.0k $18.00
− Vacancy −$11.2k −$1.22
EGI $152.9k $16.78
− OpEx −$38.2k −$4.19
NOI $114.7k $12.58
9,113 SF · lease $18.00/SF/yr · vacancy 6.80% · expense 25.00%

Alternative Uses

Best Use
Specialty Retail
$1.64M
$1.43M – $1.91M (±1% cap)
NOI $114,660 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.66M
$2.32M – $3.10M (±1% cap)
NOI $185,865 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Conventional restaurants

Suggested Use

Parking Lot & Garage Pharmacy Dental Office Veterinary Clinic Auto Parts Store Bakery (Bike/Boat/Book/etc) Store Accounting Firm Butcher (Bike/Boat/Book/etc) Store

Zoning and permitted uses should be independently verified with local authorities.

Similar Off Market Nearby

  • The Wharf Buffet — 9902 S Thomas Dr, Panama City Beach, FL 32408
  • Captain Jacks — Panama City Beach, FL 32407
  • Jin Jin Super King — 9802 Front Beach Rd, Panama City Beach, FL 32407
  • All American Diner — 10590 Front Beach Rd, Panama City Beach, FL 32407

FAQs

What type of property is this?
Conventional restaurant - 1.75 acre Panama City Beach restaurant with commercial zoning.
Where is this conventional restaurant located?
The property is located at 7724 Front Beach Road Panama City Beach, FL.
What is the asking price?
The asking price for this property is $1,875,000.
What are key features of this property?
This property features: Prime 1.75‑acre location on the East end of Panama City Beach.; C‑3 General Commercial zoning with 15 units/acre density and building height up to 230'.; High traffic count of 25,200 vehicles daily.
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