Mixed-Use Property with Industrial
For Sale
$435,000
922 N East Avenue, Panama City, FL 32401
CommercialSale, Panama City, FL
Property Size1,200 SF
Lot Size1.00 Acre
Price / SF$186.14
Days on Market68
Property Features for 922 N East Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
City, General Commercial, Resid Single Family
Subdivision
[No Recorded Subdiv]
Elementary school
Parker
Middle school
Everitt
High school
Rutherford
Directions
Head east on 15th Street then make a right onto East Ave going South for 1/2 mile. Property will be on the left.
Standard status
Active
APN
15278-000-000
Size
2,337 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Description
2 4S 14W-91- 118B3 N132' OF W1/2 OF SW1/4 OF NW1/4 OF SW1/4 ORB 1244 P 1325 ORB 1633 P 474
Legal Description
2 4S 14W-91- 118B3 N132' OF W1/2 OF SW1/4 OF NW1/4 OF SW1/4 ORB 1244 P 1325 ORB 1633 P 474
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Ceiling Fan(s), Central Air
Amenities
metal building
concrete storage building
well
Building Details
Year built
1954
Flooring type
Tile
Building materials
Block, VinylSiding
Roof type
Metal
Additional Structures
Residence
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(850) 234-6696
Listed By:
Tiffany M Davies
(850) 866-6549
Added: Aug 3
Changed: Sep 14
Last Checked: Oct 9 at 7:06PM
MLS# 794042
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 one-acre mixed-use property includes a 2,337-square-foot residence with three bedrooms and one-and-a-half bathrooms, along with a 30-by-40-foot metal building. The residence may be converted to office or retail space, while the larger outbuilding was previously used as a fabrication shop and includes underground electrical service with a 400AMP 3-phase circuit panel. A separate 10-by-12-foot concrete storage building adds additional on-site utility. The metal building has hurricane damage and requires a new roof.
The property provides 132 feet of frontage on N East Avenue in Panama City and is zoned General Commercial 1. Existing improvements include block and vinyl siding construction, tile flooring, central air, electric and central heating, a metal roof, and public sewer service.
The property provides 132 feet of frontage on N East Avenue in Panama City and is zoned General Commercial 1. Existing improvements include block and vinyl siding construction, tile flooring, central air, electric and central heating, a metal roof, and public sewer service.
Key Highlights
- 1 acre with 132 feet of frontage on N East Avenue
- Zoned General Commercial 1
- 2,337‑square‑foot residence with 3 bedrooms and 1.5 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,662
Cap Rate
5.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$473,240
$473.2K
Cap Rate 7%
$338,029
$338.0K
Cap Rate 9%
$262,911
$262.9K
Market Conditions
NOI Build-Up for 2,337 SF
Gross rent
$42.1K $18.00/SF
− Vacancy
−$4.2K −$1.80/SF
EGI
$37.9K $16.20/SF
− OpEx
−$14.2K −$6.07/SF
NOI
$23.7K $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%
$473,240
Cap Rate 7%
$338,029
Cap Rate 9%
$262,911
Alternative Uses
Best Use
Mixed Use
$338.0K
$295.8K – $394.4K
NOI $23,662 @ 7.0% cap · market cap 5.44%
Second Best
Flex RnD
$288.8K
$252.7K – $337.0K
NOI $20,218 @ 7.0% cap · market cap 4.65%
Theoretical Best
Office A
$680.9K
$595.8K – $794.4K
NOI $47,664 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
210
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - General Commercial 1 zoning and multiple existing structures support flexible commercial use.
Where is this mixed-use property located?
The property is located at 922 N East Avenue Panama City, FL.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 1 acre with 132 feet of frontage on N East Avenue; Zoned General Commercial 1; 2,337‑square‑foot residence with 3 bedrooms and 1.5 bathrooms
