Panama City, FL
Commercial Real Estate Market Trends & Data

$244 Avg asking sale price
$830 Avg asking lease rate
14,851 SF Avg unit lease size
16,199 SF Avg building size for sale
8.38% Average cap rate

Panama City's Demographic Profile

Panama City has 12,704 households and a median income of $51,867, providing context for rent absorption and tenant demand across retail and multifamily assets. A +4% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 31,471
# Households 12,704
Median age 40
Median household income $51,867
Avg household size 2.0
Renter-occupied housing units 5,712
5-year population change +4%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Panama City, FL

↻ Updated Monthly

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Nearby Retail Markets Avg Cost/SF Typical Size
Panama City $341 6,352 SF
Lynn Haven $298 5,040 SF
Parker $336 6,300 SF
Callaway $259 11,000 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Panama City $150 38,060 SF 8.14%
Callaway $150 38,060 SF 8.14%
Panama City Beach $259 18,472 SF 21.30%

Commercial Properties For Sale in Panama City

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

1002 Arthur Dr

Lynn Haven, FL 32444

  • 133,000 SF Flex Building
  • $20,000,000
For Sale

8,970 sqft Flex Warehouse | Panama City, FL

Panama City, FL 32401

  • 8,590 SF Retail Building
  • 12.30% Cap Rate
  • $1,400,000
For Sale

2.41 acre Mobile Home Park | Panama City, FL

Panama City, FL 32405

  • 11,520 SF Specialty
  • 14.17% Cap Rate
  • $1,250,000
For Sale

2822 Martin Luther King Jr Blvd

Panama City, FL 32405

  • 3.40 AC Lot
  • 1 Commercial Lot
  • $1,500,000
For Sale

544 N Tyndall Pky

Panama City, FL 32404

  • 15,699 SF Retail Building
  • $2,850,000
For Sale

305 E Beach Drive

Panama City, FL 32401

  • 3.25 AC Lot
  • 1 Commercial Lot
  • $4,500,000

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

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Nearby Commercial Markets

Comparing nearby markets helps investors see whether Panama City pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Panama City $244 16,199 SF
Lynn Haven $234 24,803 SF
Parker $163 15,064 SF
Callaway $284 21,997 SF

Regional Demographic Comparison

This comparison places Panama City alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Panama City or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Panama City 31,471 12,704 40 $51,867 2 5,712 4%
Lynn Haven 15,930 6,194 40 $71,391 3 1,707 2%
Parker 4,006 1,676 43 $57,324 2 631 6%
Callaway 13,658 5,154 39 $55,261 3 1,638 6%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Panama City, FL and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Panama City

View All Commercial Real Estate For Sale in Panama City
Is Panama City a good market for a first-time commercial real estate investor?

Panama City offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Panama City?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Panama City. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Panama City?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Panama City. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Panama City compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Panama City. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Panama City acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Panama City, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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