609 6Th CtPanama City, FL 32401

Property Details for 609 6Th Ct

Year built

2020

Lot size

0.24 AC

Property size (Sq ft)

5,247 SF

Zone code

PC04

Property type

Healthcare properties

Property subtype

Medical offices

APN

20365-000-000

APU

20365000000

Description

This exceptional investment opportunity presents a 5,247 square foot, single-story medical office building constructed in 2020, located at 609 E 6th Court, Panama City, FL 32401. The property sits on a 46,173.6 square foot lot and is currently 100% leased to reputable tenants with reliable lease agreements. The building boasts a contemporary design and features two mirrored sides, maximizing functionality and workflow. Ample parking is available for staff and patients. Its strategic location offers easy access to major highways 231, 77, and 98, ensuring convenient transportation. The asking price is $1,400,000. The property includes four parcels: 20364-000-000, 20365-000-000, 20366-000-000, and 20367-000-000. Approximately 2,400 square feet of space could become available relatively quickly if needed. This prime location in a major medical hub provides both immediate rental income and significant long-term appreciation potential, making it an ideal investment for discerning buyers seeking a stable and profitable asset. The property's proximity to Ascension Sacred Heart Hospital further enhances its desirability and value.

• CAP approach

  CAP return

  Valuation

  6%

  $960,054

  6.5%

  $886,203

  7%

  $822,903

• Comparable approach

  Method

  Valuation

  Relative Method

  $373,009

  Geo Method

  $373,009

• Alternative Use

  Use

  Valuation

  Residential

  $1,098,892

  Hospitality

  $1,006,579

  Educational

  $837,462

  Medical

  $866,264

  Retail

  $1,302,719

Location Insight

City

Panama City

County

Bay

State

Florida

Latitude

30.1599

Longitude

-85.6515

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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