Commercial Real Estate Market in Panama City, FL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
298 active listings and 3,912 off-market properties in Panama City, FL. Commercial property asks $208/SF to buy and $17.99/SF/Yr to lease.
Market Trends
Panama City, FL spans 483.8 square miles in Bay County, Florida. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Panama City, FL has a median asking sale price of $231/SF. Vacancy runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Typical asking range for active listings in Panama City, FL (the middle half): Lease $16.00–$21.25/SF/Yr (median $18.00/SF/Yr, 60 listings); Sale $181–$319/SF (median $231/SF, 29 listings).
Retail
Retail space in Panama City, FL has a median asking sale price of $268/SF. Vacancy runs 5.4% across the South region in 2025, down from 7% in 2020.
Typical asking range for active listings in Panama City, FL (the middle half): Lease $15.50–$23.25/SF/Yr (median $20.50/SF/Yr, 20 listings); Sale $160–$340/SF (median $268/SF, 13 listings).
Industrial
Industrial space in Panama City, FL has a median asking sale price of $171/SF. Vacancy runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Typical asking range for active listings in Panama City, FL (the middle half): Lease $11.43–$14.25/SF/Yr (median $14.00/SF/Yr, 11 listings); Sale $129–$212/SF (median $171/SF, 12 listings).
Multifamily
Multifamily space in Panama City, FL has a median asking sale price of $199/SF. Vacancy runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Typical asking range for active listings in Panama City, FL (the middle half): Sale $144–$274/SF (median $199/SF, 55 listings).
Market overview
Demographics & Economy
Panama City, FL has 147,306 residents in 97,839 households. Density runs 304 people per square mile. Median household income here is $70,575 and median gross rent $1,435 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Panama City?
How much does it cost to lease commercial space in Panama City?
Where does Realmo's Panama City market data come from?
Methodology & data sources
- Asking prices and medians
- There are 161 active for-sale and 137 active for-lease listings in Panama City, FL. The medians are based on 114 of the for-sale and 91 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
