Multi-Use Professional Office
For Sale
$4,000,000
2420 Jenks Ave, Panama City, FL 32305
Commercial Sale, Panama City, FL
Property Size23,120 SF
Lot Size2.68 Acres
Price / SF$173.01
Days on Market291
Property Features for 2420 Jenks Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Subdivision
No Named Subdivision
Directions
Just off the northeast corner of Jenks Ave and 23rd St.
Standard status
Active
APN
13016122000
Size
23,120 SF
Lot size
2.68 Acres
Taxes and HOA fees
Tax Description
29 3S 14W -19.22- 91A ST AND BAY DEV CO PLAT BEG 210.3' S OF INTER OF E R/W JINKS AVE & N LINE LOT 111 FOR POB TH CONT S 124.99' E 225' S 105' W 225' S 25' E 250' SELY 141.71' NELY 76.24' NELY 48.88' SELY 0.81' N 231.51' W 513.58' TO POB BEING PART
Legal Description
29 3S 14W -19.22- 91A ST AND BAY DEV CO PLAT BEG 210.3' S OF INTER OF E R/W JINKS AVE & N LINE LOT 111 FOR POB TH CONT S 124.99' E 225' S 105' W 225' S 25' E 250' SELY 141.71' NELY 76.24' NELY 48.88' SELY 0.81' N 231.51' W 513.58' TO POB BEING PART
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
2000
Listing Agency:
Nai Talcor
(850) 249-2879
Listed By:
Wendy Partie · License ##3580252
(601) 405-9820
Added: Dec 22, 2025
Changed: Sep 3
Last Checked: Oct 9 at 7:06PM
MLS# 321558
Copyright © 2026 Forgotten Coast Realtor Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 23,120-square-foot office property was built in 2000 and configured as a multi-use professional center. The 2.684-acre site provides a substantial setting for the existing office improvements, with public water and public sewer serving the property.
The center is positioned near the intersection of 23rd Street and Jenks Avenue in Panama City. Its location offers direct proximity to two named arterial streets while retaining a professional office setting. Water is available at the property, and the site is connected to public sewer.
The center is positioned near the intersection of 23rd Street and Jenks Avenue in Panama City. Its location offers direct proximity to two named arterial streets while retaining a professional office setting. Water is available at the property, and the site is connected to public sewer.
Key Highlights
- 23,120‑square‑foot office property built in 2000
- Multi‑use professional center on 2.684 acres
- Near the intersection of 23rd Street and Jenks Avenue
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$284,029
Cap Rate
7.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,680,580
$5.7M
Cap Rate 7%
$4,057,557
$4.1M
Cap Rate 9%
$3,155,878
$3.2M
Market Conditions
NOI Build-Up for 23,120 SF
Gross rent
$485.5K $21.00/SF
− Vacancy
−$106.8K −$4.62/SF
EGI
$378.7K $16.38/SF
− OpEx
−$94.7K −$4.10/SF
NOI
$284.0K $12.29/SF
Area
Leon County, FL
Vacancy
22.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,680,580
Cap Rate 7%
$4,057,557
Cap Rate 9%
$3,155,878
Alternative Uses
Best Use
Office B
$4.06M
$3.55M – $4.73M
NOI $284,029 @ 7.0% cap · market cap 7.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.67M
$4.96M – $6.61M
NOI $396,761 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,499
Businesses Nearby
Explore this area
Business Placement
Demographics for 32305, FL
19,199
Population
8,517
Households
2.3
Avg Household Size
40
Median Age
20%
College-Educated
83%
High-School Grad
96.0 sq mi
ZIP Area
200
Density / Sq Mi
$47,694
Median Household Income
$32,166
Median Earnings
$923
Median Rent
$154,500
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
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Frequently Asked Questions
What type of property is this?
Office building - Professional office property with public water and sewer serving a multi-use center near a major intersection.
Where is this office building located?
The property is located at 2420 Jenks Ave Panama City, FL.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 23,120‑square‑foot office property built in 2000; Multi‑use professional center on 2.684 acres; Near the intersection of 23rd Street and Jenks Avenue
