Ground Floor Medical Office
2202 State Avenue #105 Panama City, FL 32405
For Sale
$455,000
Ground-floor medical office suite within a medical complex with direct corridor access to the hospital.
Property Size1,229 SF
Price / SF$370.22
Days on Market555
Property Features for 2202 State Avenue #105
General Information
- Standard status
- Active
- Size
- 1,229 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1987
Listing Agency:
Centergate Realty LLC
(850) 258-4194
Listed By:
Ayesha Albibi · License #SL3337069
(850) 258-4194
Source:
Fullsailnwfl
Added: Jan 16, 2025
Changed: Jul 24
Last Checked: Jul 24 at 4:27AM
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 Centergate Realty LLC
Investment Insights
Based on property information with market context.
This ground-floor medical office suite is located within a medical complex on the Gulf Coast Medical Center Campus. The unit offers approximately 1,229 square feet and is presented as a ready-to-occupy space, with repairs completed. Common areas have been newly renovated.
The office provides direct access to the hospital via a connected corridor, supporting convenient, integrated patient flow. The property is offered for sale at 2202 State Avenue #105, Panama City, FL 32405. All sizes are approximate; please measure if important.
The office provides direct access to the hospital via a connected corridor, supporting convenient, integrated patient flow. The property is offered for sale at 2202 State Avenue #105, Panama City, FL 32405. All sizes are approximate; please measure if important.
Key Highlights
- 1,229 sq. ft. ground‑floor medical office suite in a medical complex
- Direct corridor access to the hospital within the Gulf Coast Medical Center Campus
- Repairs have been completed for the unit
Financial Insights For Healthcare Medical
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 | $31.0k | $25.20 |
| − Vacancy | −$3.3k | −$2.65 |
| EGI | $27.7k | $22.55 |
| − OpEx | −$11.1k | −$9.02 |
| NOI | $16.6k | $13.53 |
1,229 SF · lease $25.20/SF/yr · vacancy 10.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$237.6K
$207.9K – $277.2K
NOI $16,631 @ 7.0% cap · market cap 3.66%
Second Best
Office B
$221.2K
$193.6K – $258.1K
NOI $15,485 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$309.1K
$270.4K – $360.6K
NOI $21,635 @ 7.0% cap · market cap 4.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Gulf Coast Medical ...
Parking Lot & Garage
Karin Maddox, MD
Physician
Brain and Spine Specialists
Physician
Michael Taylor, MD
Physician
Dr. Achraf A. Makki, ...
Physician
Similar Off Market Nearby
- Forest Park Animal Hospital PA — 2640 Jenks Ave, Panama City, FL 32405
- Forest Park Animal Hospital PA: Baker Ashley DVM — 2640 Jenks Ave, Panama City, FL 32405
FAQs
What type of property is this?
Medical Office Space - Ground-floor medical office suite within a medical complex with direct corridor access to the hospital.
Where is this medical office space located?
The property is located at 2202 State Avenue #105 Panama City, FL.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: 1,229 sq. ft. ground‑floor medical office suite in a medical complex; Direct corridor access to the hospital within the Gulf Coast Medical Center Campus; Repairs have been completed for the unit
