Multi-Building Professional Office
2420 Jenks Ave Panama City, FL 32405
New
For Sale
Contact for pricing
Multi-use professional center with three office buildings totaling about 22,000 sf and newly installed 2022 roofs.
Property Size22,000 SF
Price / SF$181.82
Days on Market4
Property Features for 2420 Jenks Ave
General Information
Standard status
Active
Size
22,000 SF
Property subtype
OFFICE
Listing Agency:
NAI TALCOR | Tallahassee
(850) 814-4490
Listed By:
Brent Faison · License #3027940
(850) 814-4490
Source:
Moodyscre
Added: Jul 26
Changed: Jul 27
Last Checked: Jul 28 at 1:32PM
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 NAI TALCOR | Tallahassee
Investment Insights
Based on property information with market context.
This multi-use professional office center includes two buildings of approximately 8,000 RSF and one building of approximately 6,000 RSF, for a total of about 22,000 SF. The property is reported as 100% leased. New roofs were installed in 2022, supporting continued exterior durability.
The center is conveniently located just off the intersection of 23rd Street and Jenks Avenue. Bay County Parcel IDs are 13016-122-000 and 13016-122-070.
For buyers considering purchase structure, owner financing is available. The property is listed with a stated cap rate of 7.45%.
The center is conveniently located just off the intersection of 23rd Street and Jenks Avenue. Bay County Parcel IDs are 13016-122-000 and 13016-122-070.
For buyers considering purchase structure, owner financing is available. The property is listed with a stated cap rate of 7.45%.
Key Highlights
- Multi‑use professional center with about 22,000 SF across three office buildings
- Two buildings with 8,000 RSF plus one building with 6,000 RSF
- 100% leased
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 | $462.0k | $21.00 |
| − Vacancy | −$92.4k | −$4.20 |
| EGI | $369.6k | $16.80 |
| − OpEx | −$92.4k | −$4.20 |
| NOI | $277.2k | $12.60 |
22,000 SF · lease $21.00/SF/yr · vacancy 20.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.96M
$3.47M – $4.62M
NOI $277,200 @ 7.0% cap · market cap 6.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.53M
$4.84M – $6.45M
NOI $387,288 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Multi-use professional center with three office buildings totaling about 22,000 sf and newly installed 2022 roofs.
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: Multi‑use professional center with about 22,000 SF across three office buildings; Two buildings with 8,000 RSF plus one building with 6,000 RSF; 100% leased
