2809 15Th StPanama City, FL 32401

Property Details for 2809 15Th St

Year built

1986

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.40 AC

Property size (Sq ft)

8,640 SF

Zone code

PC09

Property type

Office properties

APN

29670-000-000

APU

29670000000

Description

This exceptional 600-square-foot commercial office space, located at 2809 15th St in Panama City, Florida (zip code 32401), presents a unique opportunity. Situated in the vibrant Saint Andrew's neighborhood, this single-tenant property offers versatile space ideal for a variety of businesses. The unit, designated Cedar Square Unit #105, is classified as a Traditional Office, Coworking space, and Creative Office, providing flexibility in its configuration. The layout allows for either two separate offices or a single office with a dedicated reception area, catering to diverse business needs. Its central location offers unparalleled convenience, with numerous local restaurants within easy walking distance. The property allows for renovations, subject to prior approval, enabling customization to perfectly suit your business requirements. A significant advantage is the inclusion of water, sewer, electricity, and WiFi in the rental price, minimizing operational costs. This is a rare opportunity to secure a well-located, adaptable, and amenity-rich commercial space in a thriving area of Panama City. The property is in Bay County, Florida.

• CAP approach

  CAP return

  Valuation

  6%

  $1,580,825

  6.5%

  $1,459,223

  7%

  $1,354,993

• Comparable approach

  Method

  Valuation

  Relative Method

  $614,218

  Geo Method

  $614,218

• Alternative Use

  Use

  Valuation

  Residential

  $1,809,436

  Hospitality

  $1,657,434

  Educational

  $1,378,966

  Medical

  $1,426,390

  Retail

  $2,145,058

Location Insight

City

Panama City

County

Bay

State

Florida

Latitude

30.1751

Longitude

-85.6997

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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