221 23Rd StPanama City, FL 32405

Property Details for 221 23Rd St

Year built

1980

Construction

WOOD

Lot size

0.64 AC

Property size (Sq ft)

8,468 SF

Zone code

PC09

Property type

Healthcare properties

Property subtype

Medical offices

APN

12976-013-000

APU

12976013000

Description

This exceptional 2,720-square-foot medical office suite, located at 221 E 23rd Street, presents a unique investment opportunity. Built in 1980, the single-tenant property boasts a highly desirable location offering excellent visibility and signage. Its strategic placement ensures easy access and proximity to a variety of commercial businesses, including numerous national retailers. The suite's convenient location is further enhanced by its close proximity to both Ascension Sacred Heart Bay and HCA Florida Gulf Coast Hospitals, making it an ideal setting for medical professionals seeking a thriving patient base. The interior layout is well-designed and functional, featuring a spacious lobby/waiting area complete with a check-in window. Nine exam rooms/office spaces provide ample room for patient consultations and administrative tasks. Three executive offices offer private space for administrative staff or specialists. A convenient kitchen/breakroom and two restrooms add to the overall functionality and comfort of the space. The property's APN is 12976-013-000. This turnkey medical office suite is ready for immediate occupancy and represents a compelling opportunity for medical practices seeking a well-appointed and strategically located space. The property is currently vacant.

• CAP approach

  CAP return

  Valuation

  6%

  $1,549,311

  6.5%

  $1,430,134

  7%

  $1,327,981

• Comparable approach

  Method

  Valuation

  Relative Method

  $601,990

  Geo Method

  $601,990

• Alternative Use

  Use

  Valuation

  Residential

  $1,773,366

  Hospitality

  $1,624,394

  Educational

  $1,351,476

  Medical

  $1,397,956

  Retail

  $2,102,296

Location Insight

City

Panama City

County

Bay

State

Florida

Latitude

30.1901

Longitude

-85.6558

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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