1328 23Rd StPanama City, FL 32405

Property Details for 1328 23Rd St

Year built

1989

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.32 AC

Property size (Sq ft)

3,336 SF

Zone code

BC04

Property type

Healthcare properties

Property subtype

Medical offices

APN

13358-000-000

APU

13358000000

Description

This exceptional Class A office building, located at 1328 W 23rd Street in Panama City, Florida, presents a unique investment opportunity. Boasting 3,336 square feet of well-maintained space, this single-story building was constructed in 1989 and sits on a generous 13,939.2 square foot lot. Its prime corner location at a well-lit intersection ensures high traffic counts and exceptional visibility, making it ideal for any business seeking maximum exposure. Access is easy and safe, a key benefit for both patients and customers. The building itself has been meticulously maintained, showcasing its quality and appeal. Ample parking is available, complemented by a two-car garage offering additional storage space. Two attic access points with decking provide further storage options, enhancing the building's practicality. The asking price for this remarkable property is $1,450,000. This is a rare opportunity to acquire a well-situated, high-visibility office building in a desirable Panama City location, within the 32405 zip code. The property's features and location combine to create a compelling investment prospect with significant potential for return.

• CAP approach

  CAP return

  Valuation

  6%

  $610,357

  6.5%

  $563,406

  7%

  $523,163

• Comparable approach

  Method

  Valuation

  Relative Method

  $237,156

  Geo Method

  $237,156

• Alternative Use

  Use

  Valuation

  Residential

  $698,624

  Hospitality

  $639,936

  Educational

  $532,419

  Medical

  $550,730

  Retail

  $828,207

Location Insight

City

Panama City

County

Bay

State

Florida

Latitude

30.1901

Longitude

-85.6832

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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