798 Airport RdPanama City, FL 32405

Property Details for 798 Airport Rd

Year built

1956

Construction

WOOD

Lot size

0.57 AC

Property size (Sq ft)

3,490 SF

Zone code

PC09

Property type

Office properties

Property subtype

Other office properties

APN

14170-000-000

APU

14170000000

Description

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.

• 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

Property Tax & Assessments

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