Two-Suite Office
For Sale
$575,000
854 Magnolia Avenue, Panama City, FL 32401
Mixed-use zoning and separate suite entrances support a flexible office configuration.
Property Size1,708 SF
Lot Size0.64 Acres
Price / SF$336.65
Days on Market230
Property Features for 854 Magnolia Avenue
General Information
Standard status
Active
Size
1,708 SF
Lot size
0.64 Acres
Property subtype
Office
Additional Details
Condition
Newly Renovated
Office Units
2
Amenities
gas fireplaces
walk-in closets
custom bathrooms with tiled showers
private entrances
cathedral ceilings
new kitchen with quartz countertops
stainless appliances
built-in deluxe speakers
security system
Nest system
Building Details
Building Size
1,708 SF
Year Built
1938
Listing Agency:
Keller Williams Success Realty
Listed By:
Dennis Nelson · License #BK3379289
(850) 348-8262
Source:
Coastalheritagerealty
Added: Mar 13
Changed: Oct 26
Last Checked: Oct 26 at 2:54PM
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 Keller Williams Success Realty
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Investment Insights
Based on property information with market context.
The 1,708-square-foot office property contains two suites, each with a private entrance, a gas fireplace, a walk-in closet, and a bathroom with a tiled shower. A separate room has access to a third bathroom. The interior includes refinished wood floors, pine walls, cathedral ceilings, and an open kitchen with quartz counters and stainless steel appliances. Built-in speakers, security equipment, and Nest systems are included. The property was built in 1938 and has been remodeled; the HVAC system and water heaters are within three years old.
Mixed-use zoning allows multiple commercial uses, including offices. The property is on Magnolia Avenue in Panama City, within minutes of downtown. It is offered for sale and is also available under a minimum five-year NNN lease.
Mixed-use zoning allows multiple commercial uses, including offices. The property is on Magnolia Avenue in Panama City, within minutes of downtown. It is offered for sale and is also available under a minimum five-year NNN lease.
Key Highlights
- 1,708‑square‑foot office property with two suites
- Both suites have private entrances, gas fireplaces, walk‑in closets, and bathrooms with tiled showers
- A separate room has access to a third bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,719
Cap Rate
4.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$574,380
$574.4K
Cap Rate 7%
$410,271
$410.3K
Cap Rate 9%
$319,100
$319.1K
Market Conditions
NOI Build-Up for 1,708 SF
Gross rent
$48.2K $28.20/SF
− Vacancy
−$9.9K −$5.78/SF
EGI
$38.3K $22.42/SF
− OpEx
−$9.6K −$5.60/SF
NOI
$28.7K $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 Rate 5%
$574,380
Cap Rate 7%
$410,271
Cap Rate 9%
$319,100
Alternative Uses
Best Use
Office B
$410.3K
$359.0K – $478.7K
NOI $28,719 @ 7.0% cap · market cap 4.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$497.7K
$435.5K – $580.6K
NOI $34,836 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
1,965
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Mixed-use zoning and separate suite entrances support a flexible office configuration.
Where is this office building located?
The property is located at 854 Magnolia Avenue Panama City, FL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 1,708‑square‑foot office property with two suites; Both suites have private entrances, gas fireplaces, walk‑in closets, and bathrooms with tiled showers; A separate room has access to a third bathroom
