416 Jenks AvePanama City, FL 32401

Property Details for 416 Jenks Ave

Year built

1952

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.26 AC

Property size (Sq ft)

2,784 SF

Zone code

PC10

Property type

Office properties

Property subtype

Other office properties

APN

19592-000-000

APU

19592000000

Description

This exceptional 2,784 square foot commercial property, located at 416 Jenks Avenue in Panama City, Florida (zip code 32401), presents a unique investment opportunity. The building, constructed in 1982, sits on a 0.257-acre lot and is currently available as a single-tenant space with approximately 2,700 square feet vacant. Its versatile design, suitable for medical office, traditional office, retail, or restaurant use, offers significant flexibility for prospective tenants. The interior features non-load bearing walls, allowing for customizable layouts ranging from open floor plans to heavily demised spaces. The property benefits from convenient on-site parking, a significant advantage in the vibrant downtown area. Its prime location places it within easy walking distance of Hotel Indigo, various dining options, retail shops, art galleries, and numerous other businesses. This makes it an ideal location for businesses seeking high visibility and accessibility. A tenant improvement allowance of $22 per square foot is available, further enhancing the attractiveness of this property. The property's adaptability, combined with its desirable location and generous tenant improvement allowance, makes it an exceptional opportunity for a variety of commercial ventures.

• CAP approach

  CAP return

  Valuation

  6%

  $509,397

  6.5%

  $470,213

  7%

  $436,626

• Comparable approach

  Method

  Valuation

  Relative Method

  $197,915

  Geo Method

  $197,915

• Alternative Use

  Use

  Valuation

  Residential

  $583,064

  Hospitality

  $534,083

  Educational

  $444,351

  Medical

  $459,633

  Retail

  $691,212

Location Insight

City

Panama City

County

Bay

State

Florida

Latitude

30.1562

Longitude

-85.6624

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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