1148 Jenks AvePanama City, FL 32401

Property Details for 1148 Jenks Ave

Year built

1940

Construction

WOOD

Lot size

0.16 AC

Property size (Sq ft)

1,868 SF

Zone code

PC06

Property type

Office properties

Property subtype

Other office properties

APN

18510-010-000

APU

18510010000

Description

This exceptional commercial office building, situated at 1148 Jenks Avenue in Panama City, Florida, presents a compelling investment opportunity. The 1,868 square foot property, built in 1940, sits on a 6,969.6 square foot lot and is zoned for commercial use. Currently generating income from established tenants, this building offers six offices and two bathrooms, providing a consistent revenue stream. The property boasts ample on-site parking, convenient access to major roads and downtown Panama City, and attractive curb appeal. Its spacious layout is adaptable to various professional uses. The central location within Panama City's business district ensures high tenant demand, while the city's continued growth suggests strong potential for future appreciation. This turnkey investment is ideal for those seeking a hassle-free, income-generating addition to their portfolio. The asking price is $400,000. The property's strong tenant base and prime location make it a highly desirable asset in a thriving market. This is a rare opportunity to acquire a well-maintained, income-producing commercial property in a rapidly developing area of Panama City.

• CAP approach

  CAP return

  Valuation

  6%

  $341,785

  6.5%

  $315,494

  7%

  $292,958

• Comparable approach

  Method

  Valuation

  Relative Method

  $132,796

  Geo Method

  $132,796

• Alternative Use

  Use

  Valuation

  Residential

  $391,212

  Hospitality

  $358,348

  Educational

  $298,142

  Medical

  $308,395

  Retail

  $463,776

Location Insight

City

Panama City

County

Bay

State

Florida

Latitude

30.1692

Longitude

-85.6622

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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