Waterfront Class A Law Office
220 Mckenzie Ave Panama City, FL 32401
For Sale
Contact for pricing
Two-story masonry office building with impact windows and renovated HVAC, plus deep-water dock access on Massalina Bayou.
Property Size10,157 SF
Lot Size1.10 Acres
Price / SF$290.44
Days on Market205
Property Features for 220 Mckenzie Ave
General Information
- Standard status
- Active
- Size
- 10,157 SF
- Lot size
- 1.10 Acres
- Property subtype
- OFFICE
Listing Agency:
Counts Real Estate Group
(850) 814-9889
Listed By:
Christopher McCall, SIOR
(850) 814-9889
Source:
Moodyscre
Added: Jan 1
Changed: Jul 25
Last Checked: Jul 25 at 4:30AM
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 Counts Real Estate Group
Investment Insights
Based on property information with market context.
The Barron & Redding Law Office is a two-story, 10,157-square-foot Class A masonry office building with brick veneer and large windows throughout. Interior features include extensive wood moldings, paneling, and trim, particularly across the attorney offices, conference rooms, and law library. The layout includes 18 private offices, two conference rooms, a law library, open office space for paralegals and administration, workspace, a large breakroom, and a reception area. Built in 1986 and renovated in 2019 following Hurricane Michael, the property received minor damage and underwent major storm-related improvements including new storm-rated impact windows and doors, a new roof, new HVAC systems, and new flooring.
The building is located adjacent to the Bay County Courthouse on Massalina Bayou, which leads directly to St. Andrew Bay and the Gulf of America. The site includes approximately 550 linear waterfront feet along Massalina Bayou and a submerged land lease in place that provides deep-water dock space, with a large pier and wooden dock capable of accommodating several large boats. Additional exterior features include mature oak trees and mature landscaping on the property.
The offering includes a waterfront dock configuration intended to support on-site boating access, alongside a substantial legal-office interior program organized for private offices, collaboration spaces, and administrative workflow.
The building is located adjacent to the Bay County Courthouse on Massalina Bayou, which leads directly to St. Andrew Bay and the Gulf of America. The site includes approximately 550 linear waterfront feet along Massalina Bayou and a submerged land lease in place that provides deep-water dock space, with a large pier and wooden dock capable of accommodating several large boats. Additional exterior features include mature oak trees and mature landscaping on the property.
The offering includes a waterfront dock configuration intended to support on-site boating access, alongside a substantial legal-office interior program organized for private offices, collaboration spaces, and administrative workflow.
Key Highlights
- 10,157 SF, two‑story masonry Class 'A' law office building on 1.1 acres adjacent to the Bay County Courthouse on Massalina Bayou.
- 18 private offices plus reception, paralegal/open workspace, administration workspace, 2 conference rooms, law library, and large breakroom.
- Renovated in 2019 following Hurricane Michael, including new storm‑rated impact windows and doors, new roof, new HVAC systems, and new flooring.
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 | $213.3k | $21.00 |
| − Vacancy | −$42.7k | −$4.20 |
| EGI | $170.6k | $16.80 |
| − OpEx | −$42.7k | −$4.20 |
| NOI | $128.0k | $12.60 |
10,157 SF · lease $21.00/SF/yr · vacancy 20.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.83M
$1.60M – $2.13M
NOI $127,978 @ 7.0% cap · market cap 4.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.55M
$2.24M – $2.98M
NOI $178,804 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Howell Theodore R
Law Firm
Barron & Redding P.A.
Law Firm
Roland W. Kiehn
Law Firm
Fite John M
Law Firm
FAQs
What type of property is this?
Office building - Two-story masonry office building with impact windows and renovated HVAC, plus deep-water dock access on Massalina Bayou.
Where is this office building located?
The property is located at 220 Mckenzie Ave Panama City, FL.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 10,157 SF, two‑story masonry Class 'A' law office building on 1.1 acres adjacent to the Bay County Courthouse on Massalina Bayou.; 18 private offices plus reception, paralegal/open workspace, administration workspace, 2 conference rooms, law library, and large breakroom.; Renovated in 2019 following Hurricane Michael, including new storm‑rated impact windows and doors, new roof, new HVAC systems, and new flooring.
