Most listings are in the $10's per square foot per year. The Panama City region is seeing a decline in rates. In the last 3 months, the median rate fell $6 per sqft per year. That's a 31% decline in rent.
In the last 90 days, 9 listings have been made available, which means listings most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 11% of the listings in the Panama City are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 2,520 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this region are approximately 2 stories. Most buildings in this area were built in 1979 and are Class A.