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    2505 W 15Th St Panama City, FL 32401

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    For Sale
    $5,310,000

    Fully occupied office building with long-term tenants.

    Property size:
    27,313 SF
    Lot size:
    1.43 Acres

    Property Features for 2505 W 15Th St

    General Information

    Size
    27,313 SF
    Lot size
    1.43 Acres

    Source: NBI Properties, Inc. Agent Dennis Fortenberry

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Panama City Institutional Investment Property

    This institutional investment property is 100% occupied with a long tenant history. The State of Florida's Department of Children and Families and Department of Education have occupied the property since 2011 and 2014, respectively. National Coating Systems, Inc. began its lease in 2018, with a 5-year renewal from July 1, 2023, through June 2028. The net operating income for the year-to-date 2021 was $345,000, and the projected NOI for 2022/23 is projected to reach $354,483.00. The property is located in Panama City, FL and has a size of 27313 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Vocational Rehabilitation State Government Office National Coatings & Supplies Paint Store Blind Services Division Social Services Organization Department of Children & Families Social Services Organization Vocational Rehabilitation Division Rehabilitation Center

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Walton
    State
    Florida
    Longitude
    -85.6970004
    Latitude
    30.1742996

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    FAQs

    What type of property is this?
    Office building - Fully occupied office building with long-term tenants.
    Where is this office building located?
    The property is located at 2505 W 15Th St Panama City, FL.
    What is the asking price?
    The asking price for this property is $5,310,000.
    What are key features of this property?
    This property features: - 100% Occupied Investment Property; - Established Long-Term Tenants: State of Florida (Children and Families, Education) since 2011/2014; - National Coating Systems, Inc. lease renewal through June 2028
    (850) 243-0007
    Request Owner's contact information
    2505 W 15Th St Panama City, FL 32401
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    Panama City, FL 32401
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2505 W 15Th St Panama City, FL 32401
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