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Property profile & analytics
OFF-MARKET Estimated value $11,345,000
Strip malls

116 Tyndall Pkwy Panama City, FL 32404-6721

69,270 SF 6.8 ac lot Built 1975
Entity Owned 15-yr Hold ~ Est. High Equity
Property ID
US18-2027231
Property summary
AI-generated overview

Parker Center, a 68,680 square foot retail building located in Bay County, presents a unique leasing opportunity. Built in 1975, this single-tenant property offers significant space for a variety of retail uses. The entire building is currently vacant, providing a blank canvas for a prospective tenant to customize the space to their exact specifications. With ample parking, accommodating 360 vehicles, customer accessibility is ensured. The property lacks elevators, a factor to consider in tenant planning and design. The substantial square footage, combined with the high parking ratio, makes this property ideal for a large-format retailer, a distribution center with showroom space, or a business requiring significant storage and display areas. The property's location in Bay County offers access to a substantial consumer base and presents a strong foundation for a successful retail operation. The building's age presents an opportunity for a complete renovation and modernization, allowing a tenant to create a truly unique and contemporary retail environment. Interested parties are encouraged to conduct their own due diligence regarding zoning regulations and permitted uses. This is a rare opportunity to secure a large, single-tenant retail space in a prime Bay County location.

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1975
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 69,270 SF
Lot 6.8 ac (296,339 SF)
APN 24920-020-000
UPID US18-2027231
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Wells Fargo ATM Atm
  • Vayla's Nails & Massage Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$13.41M
Comparable Approach Comparable
$9.28M
Blend (final) Blend
$11.35M
Owner & transaction history
Parker Center Investors LLC · 15 yrs held
Parker Center Investors LLC
since 2010
3 recorded transactions
2010
$2.5M
1997
$75,000
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building $13.1M +29.4%
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