12-Room
For Sale
Contact for pricing
836 Harrison Avenue, Panama City, FL 32401
Existing hospitality property eligible for a community-based exterior rehabilitation grant program.
Property Size7,382 SF
Price / SF$67.73
Days on Market177
Property Features for 836 Harrison Avenue
General Information
Standard status
Active
Size
7,382 SF
Property subtype
Hospitality
Building Details
Year Built
1958
Listing Agency:
Nations Real Estate, Inc
(850) 785-2233
Listed By:
Darren Haiman
Source:
Crexi
Added: Mar 8
Changed: Aug 31
Last Checked: Aug 30 at 4:28PM
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.
Built in 1958, this 7,382-square-foot motel contains 12 rooms and is located at 836 Harrison Avenue in Panama City, Florida. The property offers an established hospitality footprint for continued lodging use or a repositioning program, subject to applicable approvals and site conditions.
The motel is situated along the Harrison Avenue corridor, where new businesses, arts venues, dining concepts, and public infrastructure investments are described as contributing to ongoing neighborhood revitalization. The property qualifies for a community-based grant program focused on exterior rehabilitation, including facade, signage, landscaping, and other public-facing improvements.
The motel is situated along the Harrison Avenue corridor, where new businesses, arts venues, dining concepts, and public infrastructure investments are described as contributing to ongoing neighborhood revitalization. The property qualifies for a community-based grant program focused on exterior rehabilitation, including facade, signage, landscaping, and other public-facing improvements.
Key Highlights
- 12‑room motel at 836 Harrison Avenue, Panama City, FL 32401
- 7,382‑square‑foot property
- Built in 1958
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
$22,091
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
4.42%
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%
$441,820
$441.8K
Cap Rate 7%
$315,586
$315.6K
Cap Rate 9%
$245,456
$245.5K
Market Conditions
NOI Build-Up for 7,382 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
$110.7K $15.00/SF
− Vacancy
−$64.2K −$8.70/SF
EGI
$46.5K $6.30/SF
− OpEx
−$24.4K −$3.31/SF
NOI
$22.1K $2.99/SF
Area
Walton County, FL
Vacancy
58.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
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%
$441,820
Cap Rate 7%
$315,586
Cap Rate 9%
$245,456
Alternative Uses
Best Use
Hotel Hospitality
$315.6K
$276.1K – $368.2K
NOI $22,091 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.86M
$1.62M – $2.17M
NOI $129,953 @ 7.0% cap · market cap 25.99%
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
Well-served
Demand for This Use
Explore this area
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
Questions? Ask Rey
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Similar Off Market Nearby
- Hotel Indigo Panama City Marina, an IHG Hotel — 7 Harrison Ave, Panama City, FL 32401
- Dream Studio Event Venue — 316 Luverne Ave, Panama City, FL 32401
- One Thirty One Events by Trigo — 131 Harrison Ave, Panama City, FL 32401
- A Haunt on Harrison — 469 Harrison Ave, Panama City, FL 32401
- The Edge Weekly Guide — 437 Grace Ave, Panama City, FL 32401
Frequently Asked Questions
What type of property is this?
Motel - Existing hospitality property eligible for a community-based exterior rehabilitation grant program.
Where is this motel located?
The property is located at 836 Harrison Avenue Panama City, FL.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 12‑room motel at 836 Harrison Avenue, Panama City, FL 32401; 7,382‑square‑foot property; Built in 1958
