Commercial Real Estate Market in Panama City Beach, FL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
532 active listings and 2,306 off-market properties in Panama City Beach, FL. Commercial property asks $182/SF to buy and $16.95/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 August 2026.
Office
Office vacancy in Panama City Beach, FL runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail vacancy in Panama City Beach, FL runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Panama City Beach, FL runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily space in Panama City Beach, FL asks $297/SF to buy. Vacancy runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
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.
70,427
Population
61,614
Households
1.1
Avg Household Size
45
Median Age
33%
College-Educated
93%
High-School Grad
159.1 sq mi
ZIP Area
443
Density / Sq Mi
$70,996
Median Household Income
$42,325
Median Earnings
$1,534
Median Rent
$351,682
Median Home Value
Tools
Lease vs Buy Breakeven
At $16.95/SF/Yr lease vs $182/SF buy → buying wins if held > 1.6 years.
At a 9.3% 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.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Mexico Beach | — | — |
| Callaway | — | — |
| Port Saint Joe | — | — |
| Panama City | — | $18.37 |
Commercial property in Panama City Beach, FL asks $182/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Panama City Beach?
Commercial property in Panama City Beach, FL asks an average of $182 per square foot. The 6 most recent recorded sales traded at a median of $307/SF. Multifamily carries the highest asking price at $297/SF.
How much does it cost to lease commercial space in Panama City Beach?
Asking lease rates in Panama City Beach, FL average $16.95 per square foot per year.
Is it cheaper to lease or buy commercial space in Panama City Beach?
Buying beats leasing in Panama City Beach, FL if the property is held longer than 1.6 years, comparing $16.95/SF/Yr asking rent with $182/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
Where does Realmo's Panama City Beach market data come from?
Realmo compiles Panama City Beach, FL figures from 7 recent recorded sales, 449 active sale listings, 83 active lease listings, 2,306 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 449 active for-sale and 83 active for-lease listings in Panama City Beach, FL. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- 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 August 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 August 2026 · report a data issue
