The subject property is located within one of Panama City, Florida’s largest and most prominent national retail corridors, featuring several million square feet of retail space within a 1-mile radius. The site is an out-parcel to the former Panama City Mall, which is slated for redevelopment into a performing arts and events center, including public gathering spaces, pedestrian enhancements, and complementary mixed-use components, creating long-term upside for surrounding real estate. Major mall anchor tenants such as Dillard’s and JCPenney remain open and operating, along with national and local retailers including Panera Bread, Best Buy, Trulieve, Mochinut, Cosmo Prof, and America’s Best Eyewear. The surrounding corridor also features a mix of service providers, boutique retail, and an industrial park along US-231, contributing to strong daytime workforce traffic.
The site benefits from exceptional visibility and access along East 23rd Street (35,000 VPD), US-231 (33,000 VPD), and FL-77 (28,000 VPD), three of Panama City’s most heavily traveled commercial arteries. The property is directly across from two hotels—Hilton Garden Inn and La Quinta—providing a built-in customer base. Additional traffic generators include the surrounding retail developments, boutique service providers, and the adjacent industrial park, which together contribute strong daytime workforce and consumer traffic.
Panama City and Bay County are experiencing robust growth fueled by tourism, military presence (Tyndall Air Force Base), manufacturing, logistics, higher education, healthcare, and government employment. Strategic infrastructure investments—including Port Panama City, international airport access, rail, and improved road networks—enhance regional accessibility. Lifestyle amenities such as beaches, marinas, waterfront parks, arts districts, and year-round outdoor recreation attract both residents and visitors. Seasonal tourism from Panama City’s Gulf Coast beaches generates substantial traffic and revenue, particularly during peak spring and summer months, attracting vacationers, cruise passengers, and regional travelers.
