Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    941 Grace Ave Panama City, FL 32401

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0558982
    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.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 941 Grace Ave

    Year built
    1924
    Property type
    Commercial real estate

    Description

    This exceptional 0.4-acre property, located at 941 Grace Avenue in Panama City, Florida, presents a unique investment opportunity. The 1924 home boasts a blend of historic charm and modern conveniences. Zoned for both commercial and residential use, this property offers significant flexibility. The main house features original heart of pine floors, coffered ceilings, and a clawfoot bathtub, complemented by modern updates including a tankless gas water heater and stainless steel kitchen appliances. Exterior features include a metal roof, solid teak wood porch decking, and Storm Breaker Plus windows. The property's prime location places it within walking distance of downtown Panama City's vibrant shopping, dining, and entertainment scene, as well as hospitals, schools, and two marinas. The two parcels comprising the 17,424 square foot lot provide ample space for various uses. This property's unique combination of historical character, modern amenities, and strategic location makes it an exceptional investment opportunity in the heart of Panama City, Florida. The asking price is $585,000. The zip code is 32401.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Bay
    State
    Florida
    Longitude
    -85.6616889
    Latitude
    30.1657118

    Comparable in this City

    • $215,000

      Prime Panama City Commercial Property

      High-Income Potential, Versatile Space
      804 School Ave, Panama City, FL 32401
      View Details
    • $550,000
      4,900 SF

      Versatile Commercial Property For Sale

      Adaptable commercial space suitable for various business uses.
      1123 N Cove Blvd, Panama City, FL 32401
      View Details
    • $1,800,000
      31,875 SF

      Versatile Commercial Building in Panama City

      Three-level, 30,000 sq ft commercial building with flexible floor plan.
      551 Harrison Ave, Panama City, FL 32401
      View Details
    • $1,600,000

      Panama City Waterfront Development Opportunity

      Bayfront Industrial Land, Huge Potential
      200 Sherman Ave, Panama City, FL 32401
      View Details
    • $220,000
      1,150 SF

      Panama City Commercial Property

      Versatile 1,150 SF building, $220,000
      3729 Cherry St, Panama City, FL 32401
      View Details
    • $565,000
      4,672 SF

      Panama City Commercial Gem

      Versatile Property, High Traffic Area
      2900 5Th St, Panama City, FL 32401
      View Details

    Similar Nearby for Sale

    • $215,000

      Prime Panama City Commercial Property

      High-Income Potential, Versatile Space
      804 School Ave, Panama City, FL 32401
      View Details
    • $550,000
      4,900 SF

      Versatile Commercial Property For Sale

      Adaptable commercial space suitable for various business uses.
      1123 N Cove Blvd, Panama City, FL 32401
      View Details
    • $1,800,000
      31,875 SF

      Versatile Commercial Building in Panama City

      Three-level, 30,000 sq ft commercial building with flexible floor plan.
      551 Harrison Ave, Panama City, FL 32401
      View Details
    • $1,600,000

      Panama City Waterfront Development Opportunity

      Bayfront Industrial Land, Huge Potential
      200 Sherman Ave, Panama City, FL 32401
      View Details
    • $220,000
      1,150 SF

      Panama City Commercial Property

      Versatile 1,150 SF building, $220,000
      3729 Cherry St, Panama City, FL 32401
      View Details
    • $565,000
      4,672 SF

      Panama City Commercial Gem

      Versatile Property, High Traffic Area
      2900 5Th St, Panama City, FL 32401
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      3,800 SF

      Panama City Commercial Space For Lease

      3800 sq ft Warehouse/Office Space in FL
      3712 3Rd St, Panama City, FL 32401
      View Details
    • $1.28 SF/Yr
      9,350 SF

      Prime Panama City Industrial Space

      9,350 SF Single-Tenant Building, Highway 98 Access
      1404 Lincoln 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
    • $312 /Mo
      5,868 SF

      Prime Panama City Office Space

      FSU Campus location, office/retail space.
      5102 Bay Dr, Panama City, FL 32401
      View Details
    • $26 SF/Yr
      1,272 SF

      Prime Panama City Office Space

      1,272 sq ft Single-Tenant Office
      1147 Grace Ave, Panama City, FL 32401
      View Details
    • $8 SF/Yr
      4,000 SF

      Panama City Warehouse and Office

      Warehouse and office space available for lease in Panama City.
      1220 Transmitter Rd, 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.
    941 Grace Ave
    Panama City, FL 32401
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.