Paved Storefront
New
For Sale
$229,900
819 Grace Avenue, Panama City, FL 32401
Storefront property with a paved exterior and established commercial building presence.
Property Size1,462 SF
Days on Market5
Property Features for 819 Grace Avenue
General Information
Standard status
Active
Size
1,462 SF
Amenities
Paved
Building Details
Building Size
1,462 SF
Year Built
1937
Listing Agency:
WORLD IMPACT REAL ESTATE
(850) 596-4944
Listed By:
Danielle Britton · License #3412821
(850) 596-4944
Source:
Evrealestate
Added: Aug 6
Changed: Aug 9
Last Checked: Aug 10 at 3:34AM
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 WORLD IMPACT REAL ESTATE
Investment Insights
Based on property information with market context.
This storefront property at 819 Grace Avenue in Panama City, Florida, includes a paved exterior and a building constructed in 1937. The asset is located in Bay County and is identified within the storefront property classification.
Access is described from HWY 77/MLK via 11th Street and Grace Avenue, continuing to 819 Grace Avenue. The property’s established construction date and paved exterior provide the primary documented physical characteristics.
Access is described from HWY 77/MLK via 11th Street and Grace Avenue, continuing to 819 Grace Avenue. The property’s established construction date and paved exterior provide the primary documented physical characteristics.
Key Highlights
- Storefront property classification
- Building constructed in 1937
- Paved exterior
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,855
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$337,100
$337.1K
Cap Rate 7%
$240,786
$240.8K
Cap Rate 9%
$187,278
$187.3K
Market Conditions
NOI Build-Up for 1,462 SF
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.
Gross rent
$26.3K $18.00/SF
− Vacancy
−$2.2K −$1.53/SF
EGI
$24.1K $16.47/SF
− OpEx
−$7.2K −$4.94/SF
NOI
$16.9K $11.53/SF
Area
Walton County, FL
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$337,100
Cap Rate 7%
$240,786
Cap Rate 9%
$187,278
Alternative Uses
Best Use
Retail
$240.8K
$210.7K – $280.9K
NOI $16,855 @ 7.0% cap · market cap 7.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$367.7K
$321.7K – $429.0K
NOI $25,737 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,647
Businesses Nearby
12k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 88%
Home Improvements & Furnishings 12%
Dollar General
Shops & Services
3,443 visits/mo
0.4 miles
Family Dollar
Shops & Services
2,704 visits/mo
0.4 miles
Regions Bank
Shops & Services
2,560 visits/mo
0.1 miles
Exxon
Shops & Services
1,796 visits/mo
0.3 miles
Fastenal
Home Improvements & Furnishings
910 visits/mo
0.5 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Late Bloomer Flower Shoppe — 556 Harrison Ave, Panama City, FL 32401
- Hallmark Flower Shoppe — 702 US-98 BUS, Panama City, FL 32401
Frequently Asked Questions
What type of property is this?
Storefront property - Storefront property with a paved exterior and established commercial building presence.
Where is this storefront property located?
The property is located at 819 Grace Avenue Panama City, FL.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Storefront property classification; Building constructed in 1937; Paved exterior
