2717 5Th StPanama City, FL 32401

Property Details for 2717 5Th St

Year built

1981

Construction

STEEL FRAME

Lot size

0.40 AC

Property size (Sq ft)

4,982 SF

Zone code

PC09

Property type

Retail properties

Property subtype

Other retail properties

APN

23726-000-000

APU

23726000000

Description

This exceptional 4,982 square foot special purpose building located at 2717 E 5th Street in Panama City, Florida (zip code 32401), presents a unique investment opportunity. The property, a single-story structure (APN 23726-000-000), is currently incomplete following a stalled restaurant restoration project. However, significant groundwork has already been completed, representing substantial cost savings for a prospective buyer. The building boasts brand new HVAC, ductwork, electrical, and plumbing systems – a significant advantage for any future tenant build-out. This turnkey opportunity allows for customization to suit a variety of business needs, eliminating the considerable expense and time associated with starting from scratch. The property offers ample parking, a highly desirable feature for many businesses. The incomplete restoration provides a blank canvas for a creative entrepreneur to complete the vision and establish a thriving enterprise. The seller is offering tenant improvements to assist in the completion of the build-out. This is a rare chance to acquire a nearly completed building in a prime location, minimizing upfront investment and maximizing potential return. The property's single-tenant configuration offers simplicity and control. Explore the potential of this exceptional property today.

• CAP approach

  CAP return

  Valuation

  6%

  $1,340,015

  6.5%

  $1,236,937

  7%

  $1,148,584

• Comparable approach

  Method

  Valuation

  Relative Method

  $892,509

  Geo Method

  $892,509

• Alternative Use

  Use

  Valuation

  Residential

  $1,043,402

  Hospitality

  $955,751

  Educational

  $795,174

  Medical

  $822,521

  Retail

  $1,236,937

Location Insight

City

Panama City

County

Bay

State

Florida

Latitude

30.1571

Longitude

-85.6244

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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