16790 Panama City Beach PkwyPanama City Beach, FL 32413

Property Details for 16790 Panama City Beach Pkwy

Year built

1977

Construction

WOOD

Lot size

0.44 AC

Property size (Sq ft)

1,056 SF

Zone code

PCB03

Property type

Office properties

Property subtype

Other office properties

APN

32986-000-000

APU

32986000000

Description

This exceptional commercial property presents a rare investment opportunity in Panama City Beach, Florida. Located at 16790 Panama City Beach Parkway, this 0.5-acre parcel boasts a 1,056 square foot office building constructed in 1977. The property's strategic location on a four-corner lot offers unparalleled visibility, with an impressive average daily traffic count of 46,000 vehicles (per FDOT data). This high-traffic area ensures maximum exposure for any business. The property is zoned Commercial High Density (PCB), providing flexibility for a variety of uses. Its proximity to the entrance of the Frank Brown Park sports complex further enhances its appeal. Beyond the existing office building, the ample lot size (19,166.4 sq ft) allows for expansion or the addition of other structures, such as a laydown yard, potentially increasing the property's overall value. The asking price for this unique investment opportunity is $799,000. This property is ideal for investors seeking high visibility and significant development potential in a thriving coastal community. The property's location near Pier Park adds to its desirability.

• CAP approach

  CAP return

  Valuation

  6%

  $193,196

  6.5%

  $178,335

  7%

  $165,597

• Comparable approach

  Method

  Valuation

  Relative Method

  $75,071

  Geo Method

  $75,071

• Alternative Use

  Use

  Valuation

  Residential

  $221,136

  Hospitality

  $202,559

  Educational

  $168,527

  Medical

  $174,323

  Retail

  $262,153

Location Insight

City

Panama City Beach

County

Bay

State

Florida

Latitude

30.2289

Longitude

-85.8829

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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