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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

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
More about this property
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