3729 Cherry StPanama City, FL 32401
- Retail properties
- 1,150 SF
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
- 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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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