Medical Center with Operating
For Sale
$3,950,000
1600 Jenks Avenue Panama, Panama City, FL 32405
AHCA-approved ambulatory surgery facility with adaptable medical office space and access to established healthcare institutions.
Property Size13,132 SF
Price / SF$300.79
Days on Market251
Property Features for 1600 Jenks Avenue Panama
General Information
Standard status
Active
Size
13,132 SF
Class
B
Property subtype
Medical/Healthcare
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
fully equipped operating rooms
AHCA-approved Ambulatory Surgery Center
existing medical infrastructure
Building Details
Building Size
13,132 SF
Buildings
1
Tenancy
Multi
Properties For Sale
at 1600 Jenks Avenue Panama Contact us1600 Jenks Avenue
Size
1,532 SF
Lease Type
Modified Net
1600 Jenks Ave
Size
3,982 SF
Lease Type
NNN
Medical Clinic & ASC Suites #1 & 2
Size
6,398 SF
Lease Type
NNN
Listing Agency:
Five Bridges Real Estate Services Co.
Listed By:
Kevin Wattenbarger, CCIM · License ##BK3424407
(850) 532-5454
Source:
Thebrokerlist
Added: Feb 18
Changed: Oct 26
Last Checked: Oct 26 at 12:39PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Five Bridges Real Estate Services Co.
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Investment Insights
Based on property information with market context.
This 13,132 +/- SF medical center in Panama City includes two operating rooms and approval from AHCA as a Florida Ambulatory Surgery Center. The facility contains established medical infrastructure and can support either a single-user operation or a multi-tenant configuration. Its layout is suited to surgical services and other healthcare practices, subject to applicable requirements.
The property occupies the signalized intersection of Jenks Avenue and Airport Road, with connections to 23rd Street, U.S. Highway 98, U.S. Highway 231, and Highway 77. HCA Florida Gulf Coast Hospital and Ascension Sacred Heart Bay are nearby, along with a concentration of medical offices, retail, and professional services. On-site parking supports patient and staff access.
The property occupies the signalized intersection of Jenks Avenue and Airport Road, with connections to 23rd Street, U.S. Highway 98, U.S. Highway 231, and Highway 77. HCA Florida Gulf Coast Hospital and Ascension Sacred Heart Bay are nearby, along with a concentration of medical offices, retail, and professional services. On-site parking supports patient and staff access.
Key Highlights
- 13,132 +/- SF medical center in Panama City
- Two operating rooms included
- Approved by AHCA as a Florida Ambulatory Surgery Center
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$220,805
Cap Rate
5.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,416,100
$4.4M
Cap Rate 7%
$3,154,357
$3.2M
Cap Rate 9%
$2,453,389
$2.5M
Market Conditions
NOI Build-Up for 13,132 SF
Gross rent
$370.3K $28.20/SF
− Vacancy
−$75.9K −$5.78/SF
EGI
$294.4K $22.42/SF
− OpEx
−$73.6K −$5.60/SF
NOI
$220.8K $16.81/SF
Area
Bay County, FL
Vacancy
20.50%
Lease Rate
$28.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,416,100
Cap Rate 7%
$3,154,357
Cap Rate 9%
$2,453,389
Alternative Uses
Best Use
Office B
$3.15M
$2.76M – $3.68M
NOI $220,805 @ 7.0% cap · market cap 5.59%
Second Best
Healthcare Medical
$2.62M
$2.30M – $3.06M
NOI $183,631 @ 7.0% cap · market cap 4.65%
Theoretical Best
Office A
$3.83M
$3.35M – $4.46M
NOI $267,835 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,013
Businesses Nearby
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Business Placement
Demographics for 32405, FL
28,158
Population
13,585
Households
2.1
Avg Household Size
40
Median Age
29%
College-Educated
92%
High-School Grad
18.8 sq mi
ZIP Area
1,498
Density / Sq Mi
$71,002
Median Household Income
$41,867
Median Earnings
$1,418
Median Rent
$255,100
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Medical center - AHCA-approved ambulatory surgery facility with adaptable medical office space and access to established healthcare institutions.
Where is this medical center located?
The property is located at 1600 Jenks Avenue Panama Panama City, FL.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: 13,132 +/- SF medical center in Panama City; Two operating rooms included; Approved by AHCA as a Florida Ambulatory Surgery Center
