2805 12Th StPanama City, FL 32401

Property Details for 2805 12Th St

Year built

1953

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.25 AC

Property size (Sq ft)

7,884 SF

Zone code

PC10

Property type

Warehouses

APN

29802-010-000

APU

29802010000

Description

This unique 7,900 square foot flex space, located at 2805 W 12th Street in Panama City, Florida, presents a compelling investment opportunity. Built in 1953, this Art-Deco inspired building boasts a brick and block construction, featuring a convenient parcel-height door and open workspace ideal for a variety of uses. Situated on a 0.25-acre lot, the property enjoys a prime location just one block from Beck Avenue and a short walk to the St. Andrews waterfront. Its proximity to Little Village, ample public parking, and the vibrant St. Andrews restaurant scene makes it perfect for retail, showrooms, event spaces, entertainment venues, or live-work arrangements. The building's design and location offer significant potential, further enhanced by the availability of grants and property improvement opportunities through the Historic St. Andrews Waterfront Partnership. The asking price is $499,000. This property is zoned for industrial, land, and special purpose uses. The property's address is 2805 W 12th St, Panama City, FL 32401. This is a rare opportunity to acquire a distinctive property in a thriving waterfront community.

• CAP approach

  CAP return

  Valuation

  6%

  $3,175,960

  6.5%

  $2,931,650

  7%

  $2,722,250

• Comparable approach

  Method

  Valuation

  Relative Method

  $896,758

  Geo Method

  $896,758

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $1,511,050

  Mixed-Use / Specialty

  $1,511,740

  Hospitality / Lodging

  $1,117,030

  Office

  $1,509,100

  Institutional / Educational

  $1,573,780

  Residential Income

  $1,841,320

  Multifamily

  $2,174,670

  Automotive / Energy

  $1,348,950

  Parking / Income-Based Land

  $459,500

  Restaurant / Food Service

  $799,245

  Healthcare / Senior Housing

  $1,544,030

Location Insight

City

Panama City

County

Bay

State

Florida

Latitude

30.1697

Longitude

-85.7

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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