16901 Panama City Beach PkwyPanama City Beach, FL 32413
- Retail properties
- 12,916 SF
Property Details for 16901 Panama City Beach Pkwy
- Year built
- 2004
- Construction
- WOOD
- Lot size
- 0.61 AC
- Property size (Sq ft)
- 12,916 SF
- Zone code
- PCB03
- Property type
- Retail properties
- Property subtype
- Banks
- APN
- 33478-050-000
- APU
- 33478050000
Description
This exceptional three-story office building, constructed in 2004, is situated on a substantial 47,916 sq ft lot at 16901 Panama City Beach Parkway, Panama City Beach, FL 32413. The asking price is $4,950,000. The main building boasts over 4,000 sq ft per floor, totaling approximately 12,000 sq ft. The ground floor, previously a bank, is readily adaptable for quick re-occupancy (estimated 30-45 days). The second and third floors are currently occupied by long-term tenants, providing immediate income potential. An additional adjacent lot (33478-010-000), included in the sale, offers ample parking and the potential to construct an additional approximately 3,000 sq ft building, further enhancing income generation. This premier location benefits from its strategic positioning between Highway 79 and Pier Park, close proximity to City Hall, and within minutes of the new hospital on Highway 79. Attractive owner financing options are available with acceptable terms. This presents a unique opportunity to acquire a well-situated, income-producing property with significant expansion potential in a thriving coastal market.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $3,473,607
- 6.5%
- $3,206,406
- 7%
- $2,977,378
-
Comparable approach
- Method
- Valuation
- Relative Method
- $2,313,860
- Geo Method
- $2,313,860
-
Alternative Use
- Use
- Valuation
- Residential
- $2,704,724
- Hospitality
- $2,477,512
- Educational
- $2,061,261
- Medical
- $2,132,151
- Retail
- $3,206,406
Location Insight
- City
- Panama City Beach
- County
- Bay
- State
- Florida
- Latitude
- 30.2287
- Longitude
- -85.8854
- 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
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