Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    303 Harrison Ave Panama City, FL 32401-2729
    Back to Search
    Property profile & analytics

    303 Harrison Ave, Panama City, FL 32401-2729

    View on Map
    • Turn key restaurants
    • 2,615 SF
    • 0.06 lot acres
    Off-Market
    Last Sale Sep 21, 2023
    $800,000
    Property ID
    US18-4035818
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $685,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Turn key restaurants

    Property Details for 303 Harrison Ave

    Year built
    1932
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.06 lot acres
    Zone code
    PC10
    Property type
    Turn key restaurants
    APN
    19606-000-000
    APU
    19606000000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 21, 2023 $800,000 Harb Land Enterprises LLC Garth Stieg Granrud Warranty Deed $680k · Panhandle Cu
    Nov 27, 2001 — Ingrid K Granrud Granrud,garth P & Karen E Quit Claim Deed · related $9k · Regions Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $680,000
      ML approach
      $650,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $481,000
      Market price range: $285k - $1.01M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $635,000
      Current use
      OFFICE BUILDING
      $560,000
      Change: -12% Conversion: Moderate

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Bay
    State
    Florida
    Longitude
    -85.6609
    Latitude
    30.155
    CBSA code
    37460
    CBSA name
    PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,939
    $66,412
    $106,667
    $173,079
    -
    $66,412
    $106,667
    $173,079

    Comparable in this City

    • Value Estimation by Request
      2,875 SF

      131 Harrison Ave

      RESTAURANT
      131 Harrison Ave, Panama City, FL 32401-2725
      View Details
    • Value Estimation
      $515,000
      5,331 SF

      620 Bch Dr

      RESTAURANT
      620 Bch Dr, Panama City, FL 32401-2316
      View Details
    • Value Estimation by Request
      9,054 SF

      1110 Beck Ave

      RESTAURANT
      1110 Beck Ave, Panama City, FL 32401-1457
      View Details
    • Value Estimation by Request
      1,192 SF

      1322 Beck Ave

      RESTAURANT
      1322 Beck Ave, Panama City, FL 32401-1341
      View Details
    • Value Estimation
      $1,270,000
      20,413 SF

      4500 Hwy 98

      RESTAURANT
      4500 Hwy 98, Panama City, FL 32401-1027
      View Details
    • Value Estimation by Request
      1,394 SF

      119 Harrison Ave

      RESTAURANT
      119 Harrison Ave, Panama City, FL 32401-2725
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Historic Downtown Panama City Retail

      Premier commercial space in iconic Mashburn Building.
      436 Harrison Ave, Panama City, FL 32401
      View Details
    • Contact for pricing
      26,000 SF

      Historic Downtown Panama City Retail

      Premier commercial space in the iconic Mashburn Building.
      436 Harrison Ave, Panama City, FL 32401
      View Details
    • $769,900
      3,500 SF

      Prime Retail/Restaurant Space For Sale

      3500 SF retail/restaurant space on a busy downtown corner.
      571 Harrison Ave, Panama City, FL 32401
      View Details
    • Contact for pricing

      Commercial Land on Highway 98

      Premier commercial land parcel on a high-traffic corridor.
      3701 Highway 98 W, Panama City, FL 32401
      View Details
    • Contact for pricing

      Commercial Corner Lot For Sale

      Commercial corner lot with multiple allowable usages.
      3705 Highway 98 W, Panama City, FL 32401
      View Details
    • $1,200,000
      26,000 SF

      Historic Downtown Panama City Retail

      Premier commercial space in revitalized downtown Panama City, Florida.
      436 Harrison Ave, Panama City, FL 32401
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,700 SF

      Downtown Panama City Commercial Space

      Versatile commercial space in historic downtown Panama City with parking.
      416 Jenks Ave, Panama City, FL 32401
      View Details
    • Contact for pricing

      Turnkey Outdoor Hospitality Opportunity

      Ideal for café, bar, or beverage concept.
      2912 W 10Th St, Panama City, FL 32401
      View Details
    • $3,000 /Mo
      2,096 SF

      Jenks Avenue Commercial Property For Rent

      Commercial property with high visibility, suitable for retail or office use.
      757 Jenks Ave, Panama City, FL 32401
      View Details
    • Contact for pricing
      30,000 SF

      Downtown Panama City Retail Space

      Prime Retail Location, 30,000 SF
      551 Harrison Ave, Panama City, FL 32401
      View Details
    • $7,650 /Mo

      Retail Space on Mulberry Avenue

      Retail space available for rent at Mulberry Avenue, Panama City.
      733 Mulberry Ave, Panama City, FL 32401
      View Details
    • Contact for pricing

      Historic Retail Building in Downtown

      Prominent two-story, ±12,700 SF building in downtown Panama City.
      485 Harrison Ave, Panama City, FL 32401
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    303 Harrison Ave
    Panama City, FL 32401-2729
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    303 Harrison Ave, Panama City, FL, 32401
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!