615 Highway 231, Panama City, FL 32405
New Listing
$6,493,000
Property Type:
Commercial for Sale
Square Footage:
54,027
Lot Size (sq. ft.):
225,641
Status:
Active
Current Price:
$6,493,000
List Date:
3/10/2026
Last Modified:
3/10/2026
Description
+/-54,027 SF neighborhood shopping center situated on 5.18 acres on Hwy 231 in Panama City. This property benefits from access points on major arteries, Hwy 231 & Hwy 77 along with a separate lighted intersection at 19th St.
The property is well positioned to meet the daily retail and service needs of nearby neighborhoods while benefiting from proximity to Bay County’s healthcare and employment hubs. Currently 83.13% occupied, the center provides stable in-place income with additional upside through +/-9,114 SF of available office space.
Panama City benefits from a diversified economic base supported by healthcare, tourism, retail, and military presence. Major employers such as HCA Florida Gulf Coast Hospital, Ascension Sacred Heart, and Tyndall Air Force Base provide a stable employment foundation that supports consistent consumer activity.
+/-54,027 SF Neighborhood Shopping Center on +/-5.18 Acres
83.13% Occupied with Stable In-Place Income
+/-9,114 SF Office Vacancy – Lease Upside Opportunity
Multiple Access Points (Hwy 231, Hwy 77 & 19th Street)
New Roof and HVAC installed 2019
Parking Ratio: 4.37:1000
Financials & Rent Roll Available Upon Request
More Information MLS# 786612
Contract Info
List Price/SqFt: 120.18
List Date: 2026-03-10
List Price: $6,493,000
Current Price: $6,493,000
Sub-Type: Income Producing
Location
Sub Area: 0203 – Bay – Central SW
Community/Resort: None
Waterfront: No
Elementary School: Oakland Terrace
Middle School: Jinks
High School: Bay
Directions: Mariner Plaza is located with significant frontage along North of Hwy 231, just south of Hwy 77 intersection (Average Daily Traffic Counts: +/-45,500 AADT – Hwy 231/Hwy 77 Intersection and +/-56,500 AADT – 23rd St/Hwy 77 Intersection.
Area: 02 – Bay County – Central
Street #: 615
Street Name: Highway 231
State: FL
Zip Code: 32405
County: Bay
Subdivision: No Named Subdivision
Parcel ID: 14456-000-000
Legal Description: 33 3S 14W -49.1- 104C3 COM AT C/L INTERSECTION OF SR 77 & SR 75 (U S 231) TH SWLY ON SR 75 C/L 1095′ NWLY 60′ TO NLY R/W FOR POB TH NWLY 521′ NELY 91′ NWLY 46.5′ ELY 375.8′ S 155′ SELY 150′ NELY 212.75′ E 88.39′ S 160.54′ TO NLY R/W SWLY 616.75′ TO P OB LESS TO -49.2- ORB 1736 P 1845 ORB 3089 P 2185
General Property Info
List Class: Commercial
Acreage: 5.18
Construction Status: Construction Complete
SqFt Tot Bldg: 54027
Year Built: 1968
Listing Info, Tax and Legal
HOA Fee: No
Remarks & Misc
Remarks: +/-54,027 SF neighborhood shopping center situated on 5.18 acres on Hwy 231 in Panama City. This property benefits from access points on major arteries, Hwy 231 & Hwy 77 along with a separate lighted intersection at 19th St.
The property is well positioned to meet the daily retail and service needs of nearby neighborhoods while benefiting from proximity to Bay County’s healthcare and employment hubs. Currently 83.13% occupied, the center provides stable in-place income with additional upside through +/-9,114 SF of available office space.
Panama City benefits from a diversified economic base supported by healthcare, tourism, retail, and military presence. Major employers such as HCA Florida Gulf Coast Hospital, Ascension Sacred Heart, and Tyndall Air Force Base provide a stable employment foundation that supports consistent consumer activity.
+/-54,027 SF Neighborhood Shopping Center on +/-5.18 Acres
83.13% Occupied with Stable In-Place Income
+/-9,114 SF Office Vacancy – Lease Upside Opportunity
Multiple Access Points (Hwy 231, Hwy 77 & 19th Street)
New Roof and HVAC installed 2019
Parking Ratio: 4.37:1000
Financials & Rent Roll Available Upon Request
Floors in Unit/Home
One: 1
Status Change Info
Status: Active
Listing Office:
NAI TALCOR
Last Updated: March – 10 – 2026
Information deemed reliable but not guaranteed.