This exceptional 3,014-square-foot office building, situated on a 0.57-acre lot in Bay County, presents a unique investment opportunity. Built in 1956 and extensively renovated in 2019, this Class B property boasts a functional and modern layout ideal for a variety of professional uses, including traditional office and medical office settings. The building features a single-tenant occupancy, offering complete control and flexibility. The interior comprises six private offices, providing ample space for individual work or consultations. Two large rooms, perfect for collaborative work, client meetings, or reception areas, enhance the functionality of the space. Three dedicated storage areas offer convenient solutions for supplies and equipment. Covered parking is available for employees and clients, adding to the overall convenience and appeal. The property's location just south of 23rd Street ensures high visibility and accessibility within a thriving commercial hub, zoned General Commercial 1. The two-story building is easily accessible and benefits from its prominent location. The property's APN is 14170-000-000. This is a rare opportunity to acquire a well-maintained, recently renovated office building in a desirable location.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
CAP approach
CAP return
Valuation
6%
$638,537
6.5%
$589,419
7%
$547,318
Comparable approach
Method
Valuation
Relative Method
$248,104
Geo Method
$248,104
Alternative Use
Use
Valuation
Residential
$730,880
Hospitality
$669,482
Educational
$557,001
Medical
$576,157
Retail
$866,446
Location Insight
City
Panama City
County
Bay
State
Florida
Latitude
30.1865
Longitude
-85.6718
CBSA code
37460
CBSA name
PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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