518 Mulberry AvePanama City, FL 32401

Property Details for 518 Mulberry Ave

Year built

1962

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.31 AC

Property size (Sq ft)

3,500 SF

Zone code

PC10

Property type

Office properties

Property subtype

Other office properties

APN

20121-000-000

APU

20121000000

Description

This exceptional 2,800 square foot office building is ideally situated in the heart of Downtown Panama City, Florida, at 518 Mulberry Avenue, zip code 32401. The property is a single-tenant building, offering a versatile and spacious layout perfect for a variety of businesses. The interior boasts an open floor plan, providing flexibility for customized workspace configurations. A built-in front desk area is already in place, streamlining operations and enhancing the professional image. Additional features include convenient storage space and a smaller, separate office area in the rear, offering privacy for meetings or individual work. The property's significant advantage lies in its substantial parking lot, ensuring ample space for employees and clients. This is a rare opportunity to secure a well-appointed office space in a prime downtown location with convenient parking. The property's APN is 20121-000-000. The building sits on a lot with no recorded square footage. This single-suite office building presents a unique chance to establish a thriving business in a vibrant and accessible area of Panama City.

• CAP approach

  CAP return

  Valuation

  6%

  $640,403

  6.5%

  $591,141

  7%

  $548,917

• Comparable approach

  Method

  Valuation

  Relative Method

  $248,815

  Geo Method

  $248,815

• Alternative Use

  Use

  Valuation

  Residential

  $733,015

  Hospitality

  $671,438

  Educational

  $558,629

  Medical

  $577,841

  Retail

  $868,978

Location Insight

City

Panama City

County

Bay

State

Florida

Latitude

30.158

Longitude

-85.6648

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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