Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    941 Grace Ave Panama City, FL 32401

    Property Lookup

    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

    View on Map
    • Commercial real estate
    Off-Market
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    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 estimation — 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

    • $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
    • $6,197,500

      Waterfront Community with Marina

      34-unit waterfront community with 22-slip marina in Panama City.
      240 Harmon Ave, Panama City, FL 32401
      View Details
    • $325,000
      Pending

      High-Visibility Commercial Property in Panama

      Commercial property in high-traffic St. Andrews location, ideal for investment.
      2805 W 15Th St, Panama City, FL 32401
      View Details
    • $6,197,500
      29,796 SF

      Waterfront Community with Marina

      34-unit waterfront community with 22-slip marina in revitalizing downtown.
      240 Harmon Ave, Panama City, FL 32401
      View Details

    Similar Nearby for Sale

    • $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
    • $6,197,500

      Waterfront Community with Marina

      34-unit waterfront community with 22-slip marina in Panama City.
      240 Harmon Ave, Panama City, FL 32401
      View Details
    • $325,000
      Pending

      High-Visibility Commercial Property in Panama

      Commercial property in high-traffic St. Andrews location, ideal for investment.
      2805 W 15Th St, Panama City, FL 32401
      View Details
    • $6,197,500
      29,796 SF

      Waterfront Community with Marina

      34-unit waterfront community with 22-slip marina in revitalizing downtown.
      240 Harmon Ave, Panama City, FL 32401
      View Details

    Similar Nearby for Lease

    • $10,000 /Mo

      Panama City Beach Commercial Space

      Commercial space for rent on 15th Street, Panama City.
      703 W 15Th St, Panama City, FL 32401
      View Details
    • New
      $4,500 /Mo
      5,238 SF

      Panama City Commercial Property ForRent

      5,200+ sqft commercial property, formerly a funeral home.
      1123 N Mlk Blvd, Panama City, FL 32401
      View Details
    • Contact for pricing

      Renovated Boutique Office in Panama

      Fully renovated 1,638 SF office space in downtown Panama.
      108 W 4Th 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
    • $14 SF/Yr
      9,600 SF

      Warehouse and Office Space Available

      9,600 SF warehouse and office space for rent.
      1225 Transmitter Rd, Panama City, FL 32401
      View Details
    • $6,533 /Mo
      3,920 SF

      Panama City Office Space Available

      Office space for rent in Panama City, Florida.
      102 E 4Th St, 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

    Thank You for Inquiry

    941 Grace 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!