Prime Panama City Beach
16901 Panama City Beach Parkway Panama City Beach, FL 32413
For Sale
Contact for pricing
Bank building with income potential near Pier Park and Hwy 79.
Property Size12,000 SF
Price / SF$329.17
Days on Market2012
Property Features for 16901 Panama City Beach Parkway
General Information
Standard status
Active
Size
12,000 SF
Property subtype
Office
Building Details
Year Built
2004
Listing Agency:
Counts Real Estate
Listed By:
Andy Gonsalves · License #Bk409063
Source:
Crexi
Added: Jan 23, 2021
Changed: Jul 6
Last Checked: Jul 27 at 12:46PM
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 Counts Real Estate
Investment Insights
Based on property information with market context.
This property, previously a bank building, is located in a prime location between Hwy 79 and Pier Park, close to the City Hall and within minutes of the new hospital on Hwy 79. Owner financing is available with acceptable terms. The ground floor, formerly a bank, could be operational within 30-45 days. The second and third floors are currently rented long term. The main building features three floors, each a bit over 4000 sq ft. An additional lot is included in the sale, providing parking and enough space to build approximately an additional 3000 sq ft building to increase property income. The sale includes adjoining lot identified as 33478-010-000. The property offers potential for income generation from tenants.
Key Highlights
- Premier location between Hwy 79 and Pier Park, near City Hall and the new hospital.
- Owner financing available with acceptable terms.
- Income‑generating potential with existing long‑term tenants on the second and third floors.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $338.4k | $28.20 |
| − Vacancy | −$69.4k | −$5.78 |
| EGI | $269.0k | $22.42 |
| − OpEx | −$67.3k | −$5.60 |
| NOI | $201.8k | $16.81 |
12,000 SF · lease $28.20/SF/yr · vacancy 20.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.88M
$2.52M – $3.36M
NOI $201,771 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.50M
$3.06M – $4.08M
NOI $244,747 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Bank building with income potential near Pier Park and Hwy 79.
Where is this office building located?
The property is located at 16901 Panama City Beach Parkway Panama City Beach, FL.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: Premier location between Hwy 79 and Pier Park, near City Hall and the new hospital.; Owner financing available with acceptable terms.; Income‑generating potential with existing long‑term tenants on the second and third floors.
