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    1031 15Th St Panama City, FL 32401

    For Sale
    $2,500,000

    Prime Restaurant Space, 6,280 sq ft, Vacant

    Property size:
    6,280 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 6,280-square-foot restaurant property presents a unique investment opportunity in Panama City, Florida's thriving Bay County. Located at 1031 W 15th St, this 1.459-acre lot boasts ample parking and a high visibility location with a 35,000 AADT count. Currently vacant, the building, constructed in 1972, offers a turnkey setup for a new restaurant or other commercial venture. Features include two walk-in coolers, a walk-in freezer, hood systems, and BBQ smokers, capable of seating up to 150 patrons (including outdoor seating). The property is zoned commercial and offers flexibility: renovate and lease, demolish and rebuild with a ground lease, or purchase outright. Its adaptable nature makes it suitable for various uses, including a medical office or urgent care clinic. The asking price is $2,500,000, with a price per square foot of $398.09. This is an absolute NNN lease type property. The property is available for immediate viewing. Lease options are available for discussion. This is a rare opportunity in a rapidly growing market. The APN is 18653-010-000.

    Property Features for 1031 15Th St

    General Information

    Property type
    Restaurants
    Square Feet
    6,280 SF
    Lot Size
    63,554 SF

    Building Details

    Year Built
    1972
    Stories
    1

    HighLights

    • $2,500,000 asking price for this 6,280 SF retail restaurant building.
    • Located on a 1.459‑acre lot in Panama City, FL (APN: 18653‑010‑000).
    • Features two walk‑in coolers, a walk‑in freezer, hood systems, and BBQ smokers.
    • Seats up to 150 people, including outdoor seating.
    • Currently vacant and available for immediate occupancy.
    • Zoned commercial; suitable for various uses, including medical offices.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Big Chicken Fast Food Restaurant Corams Steak and Egg Restaurant Southern Crunch Authentic ... Seafood Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Bay
    State
    Florida
    Longitude
    -85.6771825
    Latitude
    30.174867

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    FAQs

    What type of property is this?
    Restaurant - Prime Restaurant Space, 6,280 sq ft, Vacant
    Where is this restaurant located?
    The property is located at 1031 15Th St Panama City, FL.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: $2,500,000 asking price for this 6,280 SF retail restaurant building.; Located on a 1.459-acre lot in Panama City, FL (APN: 18653-010-000).; Features two walk-in coolers, a walk-in freezer, hood systems, and BBQ smokers.
    Request Owner's contact information
    1031 15Th St Panama City, FL 32401
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    Panama City, FL 32401
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1031 15Th St Panama City, FL 32401
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