Service-Bay Auto
For Sale
$555,000
Panama City, FL 32405, Panama City, FL 32405
CommercialSale, Panama City, FL
Property Size3,375 SF
Lot Size0.31 Acres
Price / SF$164.44
Days on Market192
Property Features
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business
Elementary school
Cedar Grove
Middle school
Everitt
High school
Bay
Subdivision
[No Recorded Subdiv]
Standard status
Active
Size
3,375 SF
Lot size
0.31 Acres
Building Details
Year built
1990
Flooring type
Concrete
Building materials
AluminumSiding
Roof type
Flat
Listing Agency:
Think Real Estate
(850) 270-4200
Listed By:
Kim R Johnson · License #SL 3569360
(850) 819-3296
Added: Apr 1
Changed: Oct 8
Last Checked: Oct 9 at 3:06AM
MLS# 787701
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 3,375-square-foot auto shop sits on a 0.31-acre parcel in Panama City. The facility includes service bays, space for equipment and customer service, and an office area. Concrete flooring, aluminum siding, and a flat roof are among its physical features; the building dates to 1990.
The property has 123 feet of frontage and is located in Bay County, Florida.
The property has 123 feet of frontage and is located in Bay County, Florida.
Key Highlights
- 3,375 square feet of building area on a 0.31‑acre lot
- Service bays, with space for equipment and customer service
- Office area for administrative functions
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,956
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$739,120
$739.1K
Cap Rate 7%
$527,943
$527.9K
Cap Rate 9%
$410,622
$410.6K
Market Conditions
NOI Build-Up for 3,375 SF
Gross rent
$57.5K $17.04/SF
− Vacancy
−$4.7K −$1.40/SF
EGI
$52.8K $15.64/SF
− OpEx
−$15.8K −$4.69/SF
NOI
$37.0K $10.95/SF
Area
Bay County, FL
Vacancy
8.20%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$739,120
Cap Rate 7%
$527,943
Cap Rate 9%
$410,622
Alternative Uses
Best Use
Retail
$527.9K
$462.0K – $615.9K
NOI $36,956 @ 7.0% cap · market cap 6.66%
Second Best
Flex RnD
$417.1K
$365.0K – $486.7K
NOI $29,199 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$983.4K
$860.4K – $1.15M
NOI $68,835 @ 7.0% cap · market cap 12.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
733
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32405, FL
28,158
Population
13,585
Households
2.1
Avg Household Size
40
Median Age
29%
College-Educated
92%
High-School Grad
18.8 sq mi
ZIP Area
1,498
Density / Sq Mi
$71,002
Median Household Income
$41,867
Median Earnings
$1,418
Median Rent
$255,100
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
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Similar Off Market Nearby
- Take 5 Oil Change — 698 W 23rd St, Panama City, FL 32405
- Pep Boys — 712 W 23rd St, Panama City, FL 32405
- John Lee Express Services Center — 120 E 23rd St, Panama City, FL 32405
- Mikes Auto Collision — 2433 Jenks Ave, Panama City, FL 32405
- PDR Mobile Auto Dent Removal & Paint — 3009 FL-77 Suite 18C, Panama City, FL 32405
Frequently Asked Questions
What type of property is this?
Auto shop - The workspace includes service bays, an office area, and room for equipment and customer service.
Where is this auto shop located?
The property is located at Panama City, FL.
What is the asking price?
The asking price for this property is $555,000.
What are key features of this property?
This property features: 3,375 square feet of building area on a 0.31‑acre lot; Service bays, with space for equipment and customer service; Office area for administrative functions
