615 Highway 231, Panama City, FL 32405 (MLS# 786612)

615 Highway 231, Panama City, FL 32405

$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

Overview

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 – … (Read more)

Listing Details MLS# 786612

Contract Info

List Price/SqFt: 120.18
Sub-Type: Income Producing

Location

Area: 02 – Bay County – Central
Street #: 615
Street Name: Highway 231
State: FL
Zip Code: 32405
County: Bay
Sub Area: 0203 – Bay – Central SW
Subdivision: No Named Subdivision
Community/Resort: None
Waterfront: No
Parcel ID: 14456-000-000
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.
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
Construction Status: Construction Complete
Acreage: 5.18
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

More Information

Floors in Unit/Home

One: Yes

Listing Office: NAI TALCOR

Last Updated: March – 10 – 2026

Information deemed reliable but not guaranteed.