Leased Office Building with
1148 Jenks Avenue Panama City, FL 32401
For Sale
$330,000
SINGLE_FAMILY - Panama City, FL
Property Size1,868 SF
Lot Size0.16 Acres
Price / SF$176.66
Days on Market645
Property Features for 1148 Jenks Avenue
General Information
Property type
Residential
Property subtype
Office
Standard status
Active
APN
18510-010-000
Size
1,868 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
MAGNOLIA TERRACE LOTS 31,32 & S 2' LOT 30 BLK 2 ORB 4358 P 1676 MAP 92A1
Building Details
Year built
1940
Listing Agency:
Hitchcock Real Estate LLC
(850) 481-0095
Listed By:
Brenton Hitchcock
(850) 738-5002
Added: Oct 22, 2024
Changed: Jun 24
Last Checked: Jul 28 at 5:06AM
MLS# 764111
Copyright © 2026 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial office property is a leased, income-producing building with a total size of about 1,900 square feet. The interior includes six office rooms and two bathrooms, providing a straightforward layout for professional use. The exterior is described as well-maintained, with professional curb appeal, supporting a presentable workplace environment.
The property is located at 1148 Jenks Avenue in Panama City, Florida (Bay County). It offers ample on-site parking for both tenants and clients. The listing also notes convenient access to major roads and downtown Panama City, positioning the building for day-to-day business travel and customer visits.
For buyers or investors seeking an office asset with existing leasing, the property is offered as an income-producing, leased building. For owner-occupants, the six-office configuration can support a range of professional operations that benefit from on-site parking and accessible road connections. The building’s maintained condition and curb appeal are intended to support ongoing tenant use and facility presentation.
The property is located at 1148 Jenks Avenue in Panama City, Florida (Bay County). It offers ample on-site parking for both tenants and clients. The listing also notes convenient access to major roads and downtown Panama City, positioning the building for day-to-day business travel and customer visits.
For buyers or investors seeking an office asset with existing leasing, the property is offered as an income-producing, leased building. For owner-occupants, the six-office configuration can support a range of professional operations that benefit from on-site parking and accessible road connections. The building’s maintained condition and curb appeal are intended to support ongoing tenant use and facility presentation.
Key Highlights
- Income‑Producing: Benefit from a consistent revenue stream with reliable tenants already in place.
- Prime Location: Centrally located in Panama City's business district, offering convenient access to major roads and downtown.
- Commercial Zoning: Suitable for a variety of professional uses.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.2k | $21.00 |
| − Vacancy | −$7.8k | −$4.20 |
| EGI | $31.4k | $16.80 |
| − OpEx | −$7.8k | −$4.20 |
| NOI | $23.5k | $12.60 |
1,868 SF · lease $21.00/SF/yr · vacancy 20.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$336.2K
$294.2K – $392.3K
NOI $23,537 @ 7.0% cap · market cap 7.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$469.8K
$411.1K – $548.1K
NOI $32,884 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Income-producing office building with six offices, two restrooms, and ample on-site parking for tenants and visitors.
Where is this office building located?
The property is located at 1148 Jenks Avenue Panama City, FL.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Income‑Producing: Benefit from a consistent revenue stream with reliable tenants already in place.; Prime Location: Centrally located in Panama City's business district, offering convenient access to major roads and downtown.; Commercial Zoning: Suitable for a variety of professional uses.
