$1,200,000
Panama City, FL 32407
MLS# 710791
Status: Sold
10446 sqft
1 / 48
Property Description
Huge Price Reduction. Panama City Beach landmark, Mikato Restaurant. The 1.75 acre parcel is a prime location on the East end of Panama City Beach with C-3 General Commercial zoning, 15 units /acre density, building height up to 230'. almost 300' of frontage on Front Beach Rd and 250' on the Thomas Dr/Bay Point exit lane of Hwy 98. Daily traffic count is 25,200. The building is approx. 9,000 SF with seating capacity of 299 and has been well maintained. The restaurant is offered turn-key with a bar and lounge with liquor license, a main dining room with 8 hibachi grills and 4 additional dining rooms with 12 more hibachi grills. Close to new PCB Sports Complex and adjacent to a Hawthorn Suites and a Fairfield Inn & Suites. Possible owner financing.
Details
Maps
Contract Info
List Price/SqFt: 138.81
List Date: 2021-04-25
List Price: $1,450,000
Current Price: $1,200,000
Sub-Type: Income Producing
Location
Sub Area: 0320 - Beach - Middle Central
Community/Resort: None
Waterfront: No
Business Name: Mikato Restaurant
Elementary School: Breakfast Point
Middle School: Breakfast Point
High School: Arnold
Directions: 7724 Front Beach Rd near Hathaway Bridge and Hwy 98. Hwy 98 going East the Bay Point/Thomas Dr exit goes along the side of the restaurant. From Panama City go over Hathaway Bridge and follow Front Beach Rd. Restaurant is on the right.
Area: 03 - Bay County - Beach
Street #: 7724
Street Name: Front Beach
Street Suffix: Road
State: FL
Zip Code: 32407
County: Bay
Subdivision: [No Recorded Subdiv]
Parcel ID: 27868-060-000
Legal Description: 32 3S 15W -14.6- 57D COM AT NE COR OF ORIG LOT 4 TH W 818.56' SELY 402.8' NELY 55 SELY 175' NELY 135' FOR POB TH FOR POB TH NELY 238.25' N 261.65' SWLY 315.46' SELY 250 TO POB SUBJ TO ESMT ORB 1445 P 1535 ORB 1878 P 1058
General Property Info
List Class: Bar/Restaurant
Site Dimensions: 264 x 250
Acreage: 1.75
Immediate Occupancy: Yes
Construction Status: Construction Complete
SqFt HVAC: 9113
# of Stories in Building: 1
Frontage Ft: 264
SqFt Tot Bldg: 10446
Lot Depth: 256
Lot SqFt: 72974
Year Built: 1985
Listing Info, Tax and Legal
HOA Fee: No
Remarks & Misc
Remarks: Huge Price Reduction. Panama City Beach landmark, Mikato Restaurant. The 1.75 acre parcel is a prime location on the East end of Panama City Beach with C-3 General Commercial zoning, 15 units /acre density, building height up to 230'. almost 300' of frontage on Front Beach Rd and 250' on the Thomas Dr/Bay Point exit lane of Hwy 98. Daily traffic count is 25,200. The building is approx. 9,000 SF with seating capacity of 299 and has been well maintained. The restaurant is offered turn-key with a bar and lounge with liquor license, a main dining room with 8 hibachi grills and 4 additional dining rooms with 12 more hibachi grills. Close to new PCB Sports Complex and adjacent to a Hawthorn Suites and a Fairfield Inn & Suites. Possible owner financing.
Status Change Info
Sold Price/SqFt: 114.88
Sold Price/Acre: 685714.29
Status: Sold
Under Contract Date: 2022-11-11
Sold Date: 2022-12-27
Sold Price: $1,200,000
Construction/Siding
Floor - Concrete: 1
Foundation - Slab on Grade: 1
Frame: 1
Roof - Tile/Slate: 1
Siding - Stucco: 1
Energy
AC - 2 or More: 1
Heat - Central Electric: 1
Financing
Cash: 1
Conventional: 1
Seller Financing: 1
Present Zoning
Commercial: 1
Utilities
All Utilities: 1
Natural Gas - Connected: 1
Public Sewer - Connected: 1
Water Connected: 1
Business/Property
Bus Est Five or More Yrs: 1
Freestanding Building: 1
Furnished - All: 1
Handicapped Access: 1
Kitchen Area: 1
License - Beer & Wine: 1
License - Liquor: 1
Office Area: 1
Restrooms - Public: 1
Sign: 1
Floors in Unit/Home
One: 1
Heating/Cooling
AC - Central: 1
AC - Entire: 1
AC - HVAC: 1
Heat - Central Electric: 1
Offering Type
Business Name: 1
Good Will: 1
Real Estate: 1
Sale Only: 1
Pricing Type
Sale Price: 1
Site Description
Aerials Available: 1
Cleared: 1
Corner Location: 1
Improved Lots: 1
Landscaped: 1
Level: 1
Transport. Access
4-Lane: 1
Center Turn Lane: 1
County Road: 1
Paved: 1
Property Features
Energy: AC - 2 or More; Heat - Central Electric
Financing: Cash; Conventional; Seller Financing
Offering Type: Business Name; Good Will; Real Estate; Sale Only
Pricing Type: Sale Price
Present Zoning: Commercial
Site Description: Aerials Available; Cleared; Corner Location; Improved Lots; Landscaped; Level
Utilities: All Utilities; Natural Gas - Connected; Public Sewer - Connected; Water Connected
Listing Office: Beachy Beach Real Estate
Last Updated: September - 05 - 2025
Information deemed reliable but not guaranteed.