Commercial Real Estate Market in Panama City Beach, FL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
168 active listings and 2,304 off-market properties in Panama City Beach, FL. Commercial property asks $277/SF to buy and $19.00/SF/Yr to lease.
Market Trends
Panama City Beach, FL spans 159.1 square miles in Bay County, Florida. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Panama City Beach, FL has a median asking sale price of $248/SF (based on 7 listings). Vacancy runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Retail
Retail space in Panama City Beach, FL has a median asking sale price of $248/SF (based on 5 listings). Vacancy runs 5.4% across the South region in 2025, down from 7% in 2020.
Industrial
Industrial space in Panama City Beach, FL has a median asking sale price of $220/SF (based on 4 listings). Vacancy runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Multifamily
Multifamily space in Panama City Beach, FL has a median asking sale price of $306/SF. Vacancy runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Market overview
Demographics & Economy
Panama City Beach, FL has 70,427 residents in 61,614 households. Density runs 443 people per square mile. Median household income here is $70,996 and median gross rent $1,534 a month.
Tools
Lease vs Buy Breakeven
At $19.00/SF/Yr lease vs $277/SF buy → buying wins if held > 3.4 years.
At a 6.9% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Frequently Asked Questions
What is the median price per square foot for commercial property in Panama City Beach?
How much does it cost to lease commercial space in Panama City Beach?
Is it cheaper to lease or buy commercial space in Panama City Beach?
Where does Realmo's Panama City Beach market data come from?
Methodology & data sources
- Asking prices and medians
- There are 87 active for-sale and 81 active for-lease listings in Panama City Beach, FL. The medians are based on 55 of the for-sale and 38 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 October 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 October 2026 · How Realmo checks market page data · Report a data issue
