Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2316 W 23Rd St, Unit A Panama City, FL 32405

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $21 SF/Yr ($5,696 /Mo)

    Commercial lease featuring a large lobby and multiple exam rooms.

    Property size:
    3,255 SF
    Lot size:
    3,255 SF

    Property Features for 2316 W 23Rd St

    General Information

    Standard status
    Active
    Size
    3,255 SF

    Building Details

    Year built
    1982

    We can help!

    Listing Contact
    Robin A Lee
    Robin A Lee
    Source: Corcoran

    Listing Agency: FLORIDA SALES REALTY Listing Agent: Robin A Lee

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Spacious Former Doctor's Office

    This commercial lease opportunity features a layout previously used as a doctor's office. The space includes a large 28x12 lobby, a 16x12 front office, a 15x12 main office space, and five exam rooms. Additionally, there is a break/kitchen room and two bathrooms. The total area of the property is over 3200 square feet (specifically, 3255 square feet). The property owner is open to considering painting and other improvements. Separate billing applies for electric, water, pest control, taxes, and hazard insurance, as suite A and B are semi-attached.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Vincent S. Gervera ... Physician Osama Elshazly, MD Medical Clinic Advance Rehab Physician Claire Rhodes Physician Mohamed Hussein Physician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Frankford Animal Clinic, Bayview Veterinary Hospital, Lowe Jeffrey L DVM

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Walton
    State
    Florida
    Longitude
    -85.6951091
    Latitude
    30.1902341

    Nearby Similar for Lease

    • $21 SF/Yr
      1,906 SF

      Downtown Panama City Office Space

      Professional office space in downtown Panama City for lease.
      455 Harrison Ave, Panama City, FL 32401
      View Details
    • $5,000 /Mo
      4,814 SF

      Versatile Commercial Building on Highway 77

      4,800 SF steel building on 1.24 acres with frontage.
      13919 Highway 77, Panama City, FL 32409
      View Details
    • $24 SF/Yr
      51,876 SF

      Retail Space in Panama City

      Retail space available for lease in Panama City, Florida.
      133 S Tyndall Pkwy, Panama City, FL 32404
      View Details
    • $12 SF/Yr
      51,876 SF

      Retail Center in Panama City

      52,000 SF retail center, opening Spring 2027.
      133 S Tyndall Pkwy, Panama City, FL 32404
      View Details
    • $24 SF/Yr
      51,876 SF

      Retail Space in Panama City

      Retail space available for lease in Panama City, Florida.
      133 S Tyndall Pkwy, Panama City, FL 32404
      View Details
    • $21 SF/Yr
      51,876 SF

      Retail Center in Panama City

      Retail spaces available in upcoming Panama City shopping center.
      133 S Tyndall Pkwy, Panama City, FL 32404
      View Details
    • $16 SF/Yr
      51,876 SF

      Retail Center in Panama City

      Retail space available in Panama City, Florida.
      133 S Tyndall Pkwy, Panama City, FL 32404
      View Details
    • $22 SF/Yr
      51,896 SF

      Retail Center in Panama City

      Retail spaces available in Panama City, FL, opening Spring 2027.
      133 S Tyndall Pkwy, Panama City, FL 32404
      View Details
    • $2,500 /Mo
      1,903 SF

      Panama City Office Space Available

      Well-located office building ideal for small businesses or professional services.
      309 E 7Th St, Panama City, FL 32401
      View Details
    • $3,500 /Mo
      6,500 SF

      Versatile Commercial Space Off Highway

      Flexible leasing options near Highway 231, ideal for various businesses.
      6804 Bayou George Dr, Panama City, FL 32404
      View Details
    • $15 SF/Yr
      17,577 SF

      Retail Space in Panama City

      Open span retail space with office, breakroom, and bathrooms.
      401 E 23Rd St, Panama City, FL 32405
      View Details
    • $5,000 /Mo

      Versatile Office and Warehouse Space

      Versatile office and warehouse space in an ideal location.
      1337 W 19Th St, Panama City, FL 32405
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Commercial lease featuring a large lobby and multiple exam rooms.
    Where is this medical office space located?
    The property is located at 2316 W 23Rd St, Unit A Panama City, FL.
    What is the lease rate?
    The lease rate is $21 SF/Yr.
    What are key features of this property?
    This property features: - Large 3200+ sq ft commercial space suitable for various business needs.; - Includes a spacious 28x12 lobby and 16x12 front office area.; - Features 5 dedicated exam rooms, ideal for medical or related practices.
    (850) 974-8706
    Request Owner's contact information
    2316 W 23Rd St, Unit A Panama City, FL 32405
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2316 W 23Rd St, Unit A
    Panama City, FL 32405
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2316 W 23Rd St, Unit A Panama City, FL 32405
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Robin A Lee
    Robin A Lee
    Real Estate License ID: 3581199
    (850) 974-8706 (850) 837-1388
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!