Commercial Land with Existing
For Sale
$4,400,000
Pending
8308 Panama City Beach Parkway, Panama City Beach, FL 32407
Land, Panama City Beach, FL
Property Size9,180 SF
Lot Size5.40 Acres
Days on Market111
Property Features for 8308 Panama City Beach Parkway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
County, General Commercial
Subdivision
[No Recorded Subdiv]
Directions
Located on the east-end of Panama City Beach Parkway on the north side. Adjacent to Cube Smart Self Storage and just west of Chip Seal Parkway.
Standard status
Pending
APN
27904-000-000
Lot size
5.40 Acres
Taxes and HOA fees
Tax Description
G C 2ND ADD LOT 9 LESS WLY 200' ORB 3431 P 708
Legal Description
G C 2ND ADD LOT 9 LESS WLY 200' ORB 3431 P 708
Listing Agency:
Counts Real Estate Group Inc
(850) 249-3615
Listed By:
Daniel Dunnivant
(727) 512-9742
Added: May 11
Changed: Aug 27
Last Checked: Aug 29 at 8:06PM
MLS# 789768
Copyright © 2026 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5.4-acre commercial land offering includes an existing 9,180-square-foot building with approximately 5,000 square feet of warehouse area and 4,000 square feet of office-showroom space. The warehouse includes four 12' x 14' roll-up doors and a 14-foot clear ceiling. The property is currently leased to HERC Rental through May 31, 2027.
The site has approximately 345 feet of frontage and 700 feet of depth along Panama City Beach Parkway, with an annual average daily traffic count of 44,500 vehicles. It is zoned GC-3 General Commercial within unincorporated Bay County. Nearby development and activity include Publix Sports Park, A. Gary Walsingham Academy Elementary School, the Breakfast Point and Chip Seal Parkway developments, and roadway planning involving Philip Griffitts Parkway and Chip Seal Parkway. The source information identifies potential applications including retail, hospitality, medical, automotive, restaurant, self-storage, office, multifamily, and mixed-use development.
The site has approximately 345 feet of frontage and 700 feet of depth along Panama City Beach Parkway, with an annual average daily traffic count of 44,500 vehicles. It is zoned GC-3 General Commercial within unincorporated Bay County. Nearby development and activity include Publix Sports Park, A. Gary Walsingham Academy Elementary School, the Breakfast Point and Chip Seal Parkway developments, and roadway planning involving Philip Griffitts Parkway and Chip Seal Parkway. The source information identifies potential applications including retail, hospitality, medical, automotive, restaurant, self-storage, office, multifamily, and mixed-use development.
Key Highlights
- 5.4‑acre commercial land parcel with an existing 9,180‑square‑foot building
- Approximately 345 feet of frontage on Panama City Beach Parkway and 700 feet of depth
- 44,500 annual average daily traffic count
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
$154,355
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
3.51%
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%
$3,087,100
$3.1M
Cap Rate 7%
$2,205,071
$2.2M
Cap Rate 9%
$1,715,056
$1.7M
Market Conditions
NOI Build-Up for 9,180 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
$258.9K $28.20/SF
− Vacancy
−$53.1K −$5.78/SF
EGI
$205.8K $22.42/SF
− OpEx
−$51.5K −$5.60/SF
NOI
$154.4K $16.81/SF
Area
Bay County, FL
Vacancy
20.50%
Lease Rate
$28.20 /SF/Yr
Expense Ratio
25.00%
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%
$3,087,100
Cap Rate 7%
$2,205,071
Cap Rate 9%
$1,715,056
Alternative Uses
Best Use
Office B
$2.21M
$1.93M – $2.57M
NOI $154,355 @ 7.0% cap · market cap 3.51%
Second Best
Flex RnD
$1.13M
$992.8K – $1.32M
NOI $79,420 @ 7.0% cap · market cap 1.81%
Theoretical Best
Office A
$2.67M
$2.34M – $3.12M
NOI $187,231 @ 7.0% cap · market cap 4.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
44,500 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
639
Businesses Nearby
Explore this area
Business Placement
Demographics for 32407, FL
14,366
Population
12,163
Households
1.2
Avg Household Size
41
Median Age
40%
College-Educated
96%
High-School Grad
14.9 sq mi
ZIP Area
964
Density / Sq Mi
$79,052
Median Household Income
$44,027
Median Earnings
$1,792
Median Rent
$403,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - GC-3 zoning and substantial improvements support varied commercial development possibilities.
Where is this commercial land located?
The property is located at 8308 Panama City Beach Parkway Panama City Beach, FL.
What is the asking price?
The asking price for this property is $4,400,000.
What are key features of this property?
This property features: 5.4‑acre commercial land parcel with an existing 9,180‑square‑foot building; Approximately 345 feet of frontage on Panama City Beach Parkway and 700 feet of depth; 44,500 annual average daily traffic count
