230 N Tyndall Parkway, Panama City, FL 32404
Substantial office facility previously leased to the Department of Children and Families, offering functional space for agency use.
- Added:
- May 15, 2024
- Days on Market:
- 761
- Last Refresh:
- Jun 13 at 1:48 am
Property Features for 230 N Tyndall Parkway
General Information
- Standard status
- Active
- Size
- 20,000 SF
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 2008
Listing agent Chris S McCall License #0666647 (850) 814-9889
Listing office Counts Real Estate Group Inc (850) 814-9889
Listing date May 15, 2024
Source Exitrealty
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 Inc
HighLights
- Large office building on Tyndall Parkway built in 2008
- Previously leased to the Department of Children and Families
- Former use supports agency space for state/federal needs and Department of Defense contractors
- Price reduced to $2,800,000 (listed at $140 per sq. ft.)
- Ceramic tile has been removed from the building
- Adjacent 16,000 sq. ft. building also listed at a reduced price of $2,240,000
Overview
The building is located at 230 N Tyndall Parkway in Panama City, Florida. An adjacent 16,000-square-foot building is also referenced as being offered at a reduced price, allowing for the possibility of assembling additional space depending on operational needs.
Based on its prior tenancy, the space is positioned for users seeking an office environment suitable for state and federal agencies and for Department of Defense contractors working at Tyndall Air Force Base. Prospective buyers and tenants should review the attached plans and the current interior condition closely to confirm fit for their intended buildout and operating requirements.
Local 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 | $420.0k | $21.00 |
| − Vacancy | −$84.0k | −$4.20 |
| EGI | $336.0k | $16.80 |
| − OpEx | −$84.0k | −$4.20 |
| NOI | $252.0k | $12.60 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Panama City
- County
- Walton
- State
- Florida
- Longitude
- -85.5894203
- Latitude
- 30.1506693
