1522 Chestnut AvePanama City, FL 32405

Property Details for 1522 Chestnut Ave

Year built

1947

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.21 AC

Property size (Sq ft)

1,988 SF

Property type

Office properties

Property subtype

Other office properties

APN

29507-000-000

APU

29507000000

Description

This exceptional commercial property, located at 1522 Chestnut Avenue in Panama City, Florida, 32405, presents a unique investment opportunity. Built in 1947, this office building sits on a substantial 9,147.6 square foot lot and is offered at $449,000. The property boasts convenient front parking for clients and rear parking for staff, ensuring easy access for all. The interior features well-appointed office space, a dedicated meeting room, and private restrooms, creating a professional and comfortable work environment. Its prime location near Historic St. Andrews Bay offers stunning views and proximity to a variety of amenities. Enjoy nearby restaurants overlooking the bay and docks, perfect for business lunches or client meetings. For leisure, Oaks by the Bay is within easy reach, and the pet-friendly Hotel Indigo is just a short 7-minute drive. Currently configured as an office, this versatile building presents significant potential for a range of business ventures. This is a rare chance to establish or expand your business in a highly desirable location. The property's size and features make it an ideal choice for businesses seeking a prominent presence in this vibrant area. The building's location near the bay provides a picturesque setting for both work and relaxation.

• CAP approach

  CAP return

  Valuation

  6%

  $363,735

  6.5%

  $335,755

  7%

  $311,773

• Comparable approach

  Method

  Valuation

  Relative Method

  $141,327

  Geo Method

  $141,327

• Alternative Use

  Use

  Valuation

  Residential

  $416,336

  Hospitality

  $381,362

  Educational

  $317,289

  Medical

  $328,201

  Retail

  $493,560

Location Insight

City

Panama City

County

Bay

State

Florida

Latitude

30.1769

Longitude

-85.7002

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].