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Harrison Lilly

Owner/Operator | Harrison Lilly Emerald Coast | Harrison Lilly Realty | PLACE

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2532 Joan Ave , Panama City, FL 32408
$2,500,000
Est. Payment: $12,679.53/mo
0 Bed
0 Bath
9000 Sqft
Status: active | Days on site: 162
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VCR-C15903466 - VCR-C159091383,VCR-C159052275

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Harrison Lilly
Owner/Operator

House Description

FUTURE-PROOF PCB ASSET: 9,000 SF 2022-BUILD WITH 10-STORY VERTICAL POTENTIAL Seize a premier 0.998-acre commercial footprint on Joan Avenue, positioned directly in a high-growth corridor evidenced by a neighboring property trading for $15.4M last year. Built in 2022 to rigorous 140 MPH wind standards, this high-spec complex features 100 feet of prime street frontage and a deep 435-foot lot. The property carries a rare 100-foot height allowance, offering massive potential for future vertical expansion. MAXIMIZED RENTAL POTENTIAL: TURNKEY 6-UNIT INVESTMENT CONFIGURATION This 60' x 150' engineered steel facility is a ''plug-and-play'' multi-tenant opportunity designed to maximize your ROI. The current layout is optimized for high-demand flex use, with the first section serving as 2 premium executive offices, lobby, a conference room and public bathroom. While the building already features five sections ready for separation, a small investment of approximately $10,000-$12,000 allows for the addition of two walls and four bathrooms to complete the full 6-unit complex. With two bathrooms already existing and plumbing stubs in place for the remaining four, this property offers a low-cost path to a high-yield, multi-stream rental asset. INDUSTRIAL UTILITY: 53-FOOT TRAILER ACCESS AND 6-GANG POWER Loading is seamless via six 12 x 12 grade-level roll-up doors. Property footprint is designed to accommodate a 53-foot trailer. The 9,000 SF shell maintains an efficient ratio of 8% office to 92% warehouse space, with interior clear heights ranging from 13'7'' to 16'11''. The facility is equipped with a 6-gang electrical meter bank and 600 Amp single-phase power, providing dedicated service points for each of the six potential rental units. The front office has 200 amp service. UNINCORPORATED BAY COUNTY LOCATION: LOWER TAXES AND FEWER RESTRICTIONS Located in Unincorporated Bay County rather than city limits, this property offers a strategic financial advantage with lower property tax rates, set at 5.4362 mills for 2026. Owners benefit from fewer municipal restrictions regarding signage or ''Gateway Overlay'' facade requirements. Standard county setbacks apply here, offering significantly more buildable flexibility than properties bordering strict city-residential zones. STRATEGIC PRICING: ENGINEERED FOR SAFETY AND PROFIT At a listing price of $2.5M, this asset is positioned at approximately $277 per SF, strategically aligned with the early 2026 PCB flex-industrial average of $290-$310 per SF. The property is located in Flood Zone AE with a community-determined base flood elevation (BFE) of 11.0'. Highlighting its superior engineering, the finished flood elevation is set at 12.75', providing 1 foot 9 inches of clearance above the required BFE for enhanced safety and insurance advantages. Buyer to verify height allowance, ISR, and FAR for future development. Current tenant occupies 1500 sq ft and on a month to month lease.

Highlights

Listed by Trena Kendrick , 615-587-1776 and Danielle S Kemp , 850-896-2487 CENTURY 21 Ryan Realty Inc , 850-233-7926. Bay County Association of REALTORS

Property Type

Commercial Sale

Lot/Acreage
1

Year Built

2022

County

Bay

Area

03 - Bay County - Beach

Neighborhood

Lagoon Heights

Listing ID

785853

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:0
  • Full Bathrooms:
Floor:Concrete

Exterior Features

Zoning:County
Roof:Metal
Others:
  • Additional:Rain Gutters
Principal Interest
$12,680
Taxes
$1,594

Home Price

$2,500,000

Loan Details

30 yrs
6.529%

Down Payment

20%
$500,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$12,679.53

Principal

Taxes

Principal Taxes HOA Total
Monthly $12,679.53 $1,593.75 $0.00 $14,273.28
Yearly $152,154.34 $19,125.00 $0.00 $171,279.34
Total $4,564,630.19 $573,750.00 $0.00 $5,138,380.19

Today's Rates

30 Year

6.53%

20 Year

6.33%

15 Year

5.93%

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Market insight data is pulled from the same city as the listing being viewed (Panama City, FL).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by Bay County Association of REALTORS, and is deemed reliable but not guaranteed accurate.

IDX service by Blueroof 360

Data last updated: 2026-08-20T06:33:19.000Z

© 2026 Bay County Association of REALTORS