Medical Office & Surgery
For Sale
$3,400,000
1600 Jenks Avenue, Panama City, FL 32405
Medical office and ambulatory surgery center for sale in Panama City.
Property Size13,132 SF
Price / SF$258.91
Days on Market212
Property Features for 1600 Jenks Avenue
General Information
Standard status
Active
Size
13,132 SF
Class
B
Property subtype
Office - Medical Office
Building Details
Building Size
13,132 SF
Year Renovated
2019
Listing Agency:
Five Bridges Real Estate Services
Listed By:
Kevin Wattenbarger · License ##BK3424407
(850) 532-5454
Source:
Commercialcafe
Added: Mar 27
Changed: Oct 23
Last Checked: Oct 23 at 4:00AM
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
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Investment Insights
Based on property information with market context.
This 13,132 square foot property is a medical office and ambulatory surgery center located in Panama City, Florida, near HCA Gulf Coast Medical Center. It is suitable for medical office and commercial real estate use.
Key Highlights
- Medical office & ambulatory surgery center (ASC) for sale
- Panama City, FL location
- Near HCA Gulf Coast Medi
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$220,805
Cap Rate
6.49%
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 6.49%
Second Best
Healthcare Medical
$2.62M
$2.30M – $3.06M
NOI $183,631 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$3.83M
$3.35M – $4.46M
NOI $267,835 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,013
Businesses Nearby
Well-served
Demand for This Use
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Gulf Veterinary Services — 301 W 15th St, Panama City, FL 32401
- Gulf Coast Animal Hospital — 301 15th St T, Panama City, FL 32401
- Gulf Coast Animal Hospital: Taylor Donald R DVM — 301 15th St T, Panama City, FL 32401
- Scott Robert G DVM — 301 15th St T, Panama City, FL 32401
- Critter Care of Panama City — 807 E 15th St, Panama City, FL 32405
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office and ambulatory surgery center for sale in Panama City.
Where is this medical office space located?
The property is located at 1600 Jenks Avenue Panama City, FL.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: Medical office & ambulatory surgery center (ASC) for sale; Panama City, FL location; Near HCA Gulf Coast Medi
