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Property profile & analytics
FOR SALE
Retail space

551 Harrison Ave Panama City, FL 32401

31,875 SF 0.24 ac lot Built 1959
Entity Owned 4-yr Hold Free & Clear
Property ID
US18-3442863
Property summary
AI-generated overview

This exceptional 30,000-square-foot retail space is ideally situated in Panama City's historic downtown district at 551 Harrison Avenue, conveniently located on Business HWY 98/Harrison Avenue and accessible from Grace Avenue. The single-tenant building boasts a versatile open floor plan spread across three levels, constructed with durable materials. Two entrances provide convenient access for customers, one directly on Harrison Avenue and another off Grace Avenue. Ample parking is available for patrons, with public parking on Harrison Avenue and additional spaces located at the rear of the property. The building is zoned DTD (Downtown District) within Bay County, Florida (APN: 19721-000-000). Facilitating efficient operations, the property includes a freight elevator and convenient dock-height loading access from the rear alley. This unique offering presents a significant opportunity for businesses seeking a prominent location in a thriving downtown area. The building's solid construction and desirable features make it an attractive option for a variety of retail uses. The property is located in Bay County, Florida, zip code 32401. One elevator is available for use.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1959
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 31,875 SF
Lot 0.24 ac (10,500 SF)
Zoning code PC10
APN 19721-000-000
UPID US18-3442863
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
  • Elegant Endeavors Antique Emporium Home Decor Store (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$765k
CAP Approach CAP
by Request
Comparable Approach Comparable
$949k
Blend (final) Blend
$860k
Owner & transaction history
Beach Drive PC Holdings LLC · 4 yrs held
Beach Drive PC Holdings LLC
since 2021
Last sale
$950,000
2 recorded transactions
2021
$950,000
2021
Price N/A
Zoning & alternative use
PC10 · Panama City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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