501 Airport RdPanama City, FL 32405

Property Details for 501 Airport Rd

Year built

1989

Construction

STEEL FRAME

Lot size

0.79 AC

Property size (Sq ft)

7,220 SF

Zone code

PC09

Property type

Healthcare properties

Property subtype

Medical offices

APN

14182-010-000

APU

14182010000

Description

Two renovated office suites totaling 7,220 square feet are available for lease at 501 Airport Road in Panama City. Suite C (2,371 sq ft) rents for $4,150/month and includes a lobby/reception area, large physician office with private bath, smaller office, procedure room/exam room, two multi-use rooms, five exam rooms, kitchen/break room with staff bath, triage station, handicap-accessible bath, and storage. Suite B (1,401 sq ft) rents for $2,575/month and offers a lobby/reception area, five multi-use rooms, two storage rooms, one bathroom, and one closet. Both suites feature new vinyl plank flooring, paint, trim, and cabinetry. The property enjoys a convenient location less than one mile from 23rd Street and half a mile from 15th Street, adjacent to an established medical practice. The landlord covers the tenant's water bill for the first three months. Suites can be leased individually or combined. The property is handicap accessible. Ideal for medical practices or other professional offices.

• CAP approach

  CAP return

  Valuation

  6%

  $1,321,001

  6.5%

  $1,219,386

  7%

  $1,132,287

• Comparable approach

  Method

  Valuation

  Relative Method

  $513,270

  Geo Method

  $513,270

• Alternative Use

  Use

  Valuation

  Residential

  $1,512,038

  Hospitality

  $1,385,019

  Educational

  $1,152,319

  Medical

  $1,191,949

  Retail

  $1,792,497

Location Insight

City

Panama City

County

Bay

State

Florida

Latitude

30.1806

Longitude

-85.6663

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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