3729 Cherry StPanama City, FL 32401

Property Details for 3729 Cherry St

Year built

1974

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.17 AC

Property size (Sq ft)

1,150 SF

Property type

Retail properties

Property subtype

Other retail properties

APN

23948-000-000

APU

23948000000

Description

This versatile 1,150-square-foot commercial property in Panama City, Florida, presents a unique investment opportunity. Located at 3729 Cherry Street, this 1974-built structure sits on a 7,405.2-square-foot lot and offers a multitude of potential uses. Previously utilized as a retail store and more recently as a commercial janitorial service, the building is adaptable to various businesses. Features include an owner's suite with a full bathroom, allowing for on-site living, ample storage space, and two full bathrooms. The well-maintained building boasts a metal roof, storm shutters, and a recently installed (2023) 8-foot privacy gate and black chain-link fence. Additional features include an ADT alarm system (requiring new owner connection), washer and dryer hookups in a separate area, and 9-foot ceilings throughout. The property's adaptability makes it suitable for retail, beauty salon, barbershop, or lawn service businesses. Buyers are advised to independently verify all information. The asking price is $220,000. The property is zoned for commercial use and is located in Bay County, Florida, zip code 32401.

• CAP approach

  CAP return

  Valuation

  6%

  $309,327

  6.5%

  $285,533

  7%

  $265,138

• Comparable approach

  Method

  Valuation

  Relative Method

  $206,019

  Geo Method

  $206,019

• Alternative Use

  Use

  Valuation

  Residential

  $240,858

  Hospitality

  $220,624

  Educational

  $183,557

  Medical

  $189,870

  Retail

  $285,533

Location Insight

City

Panama City

County

Bay

State

Florida

Latitude

30.1458

Longitude

-85.6109

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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