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Harrison Lilly Team

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

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615 Highway 231 , Panama City, FL 32405
$6,493,000
Est. Payment: $35,872.89/mo
54027 Sqft
5.18 Acres
Status: Active | Days on site: 80
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BNTA - B11308,B1415
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Harrison Lilly Team
Owner/Operator

House 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

Highlights

Listed by Tammy R Huston , 850-960-3624 and Brent Faison , 850-814-4490 NAI TALCOR , 850-249-2879. Bay County Association of REALTORS

Property Type

Commercial Sale

Lot/Acreage
5.18

Year Built

1968

County

Bay

Area

02 - Bay County - Central

Neighborhood

No Named Subdivision

Listing ID

786612

Questions about this listing?

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Interior Features

Exterior Features

Principal Interest
$35,873
Taxes
$4,139

Home Price

$6,493,000

Loan Details

30 yrs
7.374%

Down Payment

20%
$1,298,600
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:
$35,872.89

Principal

Taxes

Principal Taxes HOA Total
Monthly $35,872.89 $4,139.29 $0.00 $40,012.18
Yearly $430,474.68 $49,671.45 $0.00 $480,146.13
Total $12,914,240.31 $1,490,143.50 $0.00 $14,404,383.81

Today's Rates

30 Year

7.37%

20 Year

7.27%

15 Year

6.8%

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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: 2026-10-07T08:26:25.000Z

© 2026 Bay County Association of REALTORS