Updated Mixed-Use
For Sale
$375,000
834 Grace Avenue, Panama City, FL 32401
Residential and commercial zoning supports a range of occupancy arrangements.
Property Size1,498 SF
Lot Size0.16 Acres
Price / SF$250.33
Days on Market8
Property Features for 834 Grace Avenue
General Information
Standard status
Active
Size
1,498 SF
Lot size
0.16 Acres
Property subtype
Commercial
Amenities
Metal Roof
Building Details
Year Built
1941
Buildings
1
Building Size
1,498 SF
Listing Agency:
GILLMAN GROUP REALTY
(850) 776-8223
Listed By:
VICTORIA GILLMAN
Source:
Corcoran
Added: Oct 21
Changed: Oct 27
Last Checked: Oct 26 at 4:30PM
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 GILLMAN GROUP REALTY
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Investment Insights
Based on property information with market context.
Built in 1941, this 1,498-square-foot property occupies a 0.16-acre parcel in downtown Panama City. The layout can serve residential or commercial occupancy. Recent interior work includes fresh paint, replacement trim and doors, recessed lighting, and a kitchenette fitted with granite countertops and new cabinetry. Handicap access and parking at both the front and rear are also provided.
The property is near the downtown business district and one block from Harrison Avenue. Its mixed-use zoning and interior updates support a range of possible business or residential arrangements.
The property is near the downtown business district and one block from Harrison Avenue. Its mixed-use zoning and interior updates support a range of possible business or residential arrangements.
Key Highlights
- 1,498‑square‑foot building on a 0.16‑acre lot
- Zoned for residential and commercial use
- Built in 1941; interior updates include recessed lighting, new trim and doors, and fresh paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,167
Cap Rate
4.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$303,340
$303.3K
Cap Rate 7%
$216,671
$216.7K
Cap Rate 9%
$168,522
$168.5K
Market Conditions
NOI Build-Up for 1,498 SF
Gross rent
$27.0K $18.00/SF
− Vacancy
−$2.7K −$1.80/SF
EGI
$24.3K $16.20/SF
− OpEx
−$9.1K −$6.07/SF
NOI
$15.2K $10.13/SF
Area
Bay County, FL
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$303,340
Cap Rate 7%
$216,671
Cap Rate 9%
$168,522
Alternative Uses
Best Use
Mixed Use
$216.7K
$189.6K – $252.8K
NOI $15,167 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$436.5K
$381.9K – $509.2K
NOI $30,553 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,647
Businesses Nearby
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Business Placement
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Residential and commercial zoning supports a range of occupancy arrangements.
Where is this mixed-use property located?
The property is located at 834 Grace Avenue Panama City, FL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1,498‑square‑foot building on a 0.16‑acre lot; Zoned for residential and commercial use; Built in 1941; interior updates include recessed lighting, new trim and doors, and fresh paint
