2900 5Th StPanama City, FL 32401

Property Details for 2900 5Th St

Year built

1947

Construction

WOOD

Lot size

0.33 AC

Property size (Sq ft)

3,410 SF

Zone code

PC09

Property type

Retail properties

Property subtype

Turn key restaurants

APN

23300-000-000

APU

23300000000

Description

This exceptional Panama City commercial property, listed at $565,000, offers 4,672 square feet on a 0.33-acre lot (14,374.8 sq ft). Built in 1947, the property comprises two buildings: a 1,976 sq ft restaurant with a 1,242 sq ft apartment above, and a renovated 1,262 sq ft office/retail space. The GC-2 zoning allows for a variety of commercial uses, including retail, professional offices, and service businesses. Located on 2900 E 5th Street, Panama City, FL 32401, this property benefits from high visibility and accessibility, with an annual average daily traffic count of 18,100 vehicles. This presents a unique investment opportunity or a versatile space for your business, combining ample space, flexible zoning, and strong income potential. The property's prime location and diverse building options make it an attractive proposition for a wide range of commercial ventures. This is a rare opportunity to acquire a well-situated commercial property in a thriving area of Panama City. The combination of existing income streams and potential for future growth makes this an exceptional investment.

• CAP approach

  CAP return

  Valuation

  6%

  $917,193

  6.5%

  $846,640

  7%

  $786,166

• Comparable approach

  Method

  Valuation

  Relative Method

  $610,891

  Geo Method

  $610,891

• Alternative Use

  Use

  Valuation

  Residential

  $714,172

  Hospitality

  $654,178

  Educational

  $544,268

  Medical

  $562,987

  Retail

  $846,640

Location Insight

City

Panama City

County

Bay

State

Florida

Latitude

30.1566

Longitude

-85.6225

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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