1818 Michigan AvePanama City, FL 32405

Property Details for 1818 Michigan Ave

Year built

1947

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.68 AC

Property size (Sq ft)

2,500 SF

Zone code

PC09

Property type

Office properties

Property subtype

Other office properties

APN

28999-000-000

APU

28999000000

Description

This exceptional single-story office building, located at 1818 Michigan Avenue in Panama City, Florida, presents a unique investment opportunity. Built in 1947 and completely remodeled, this property boasts 29,620.8 square feet of land and offers a spacious and well-appointed interior. The building features a welcoming reception area with tile flooring and a built-in desk, a conference room with luxury vinyl plank (LVP) flooring, and five generously sized offices, all carpeted for comfort. Additional amenities include a tiled storage room with built-in shelving, handicap-accessible tile bathrooms, and a kitchen equipped with LVP flooring, hot water, an electric stove, and a refrigerator (which may remain). The exterior features a metal roof and stucco finish, enhancing both aesthetics and durability. Ample parking is available, including designated handicap spaces, and a fenced area provides substantial storage for equipment, accessible via a roll gate on the left side of the property. Currently operating as an active business, the building is available for showings during business hours with prior notice. Detailed office layout and measurements are available upon request. This property is ideally suited for a variety of business uses and represents a compelling investment in a thriving Florida market. The zip code is 32405.

• CAP approach

  CAP return

  Valuation

  6%

  $457,408

  6.5%

  $422,223

  7%

  $392,064

• Comparable approach

  Method

  Valuation

  Relative Method

  $177,725

  Geo Method

  $177,725

• Alternative Use

  Use

  Valuation

  Residential

  $523,557

  Hospitality

  $479,575

  Educational

  $399,001

  Medical

  $412,723

  Retail

  $620,668

Location Insight

City

Panama City

County

Bay

State

Florida

Latitude

30.182

Longitude

-85.7084

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].