Panama City Medical Office
2507 Harrison Ave Suite 200 Panama City FL 32405, Panama City, FL 32405
- Added:
- Jan 23, 2025
- Days on Market:
- 532
- Last Refresh:
- Mar 16 at 9:06 am
Property Features for 2507 Harrison Ave Suite 200 Panama City FL 32405
General Information
- Standard status
- Active
- Property type
- Medical Office Space, Medical centers, Medical space, Office Spaces, Healthcare properties
- Size
- 3,500 SF
- Class
- A
- Elevators
- N/A
Listing agent Brent (850) 249-2879
Listing office (850) 249-2879
Listing date Jan 23, 2025
Overview
This 3,500 square foot medical office space is located in Panama City, Florida. The property is situated approximately 200 yards from the intersection of W. 23rd Street and Harrison Avenue, a major arterial highway with an average daily traffic count of 35,000. The location offers easy access to major healthcare facilities, including HCA Florida Hospital and Ascension Sacred Heart Bay, as well as numerous retail centers, banks, and restaurants. The building features high-end interior finishes and ample on-site surface parking. The layout includes dual reception areas, three executive offices, four bathrooms, five exam rooms with plumbing, and a dedicated x-ray room. The space is approximately 3,500 rentable square feet and 3,000 usable square feet. The property is designed to accommodate multiple providers and presents a turnkey opportunity for healthcare professionals seeking a well-established and highly visible location.
Local 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 | $88.2k | $25.20 |
| − Vacancy | −$9.3k | −$2.65 |
| EGI | $78.9k | $22.55 |
| − OpEx | −$31.6k | −$9.02 |
| NOI | $47.4k | $13.53 |
3,500 SF · lease $25.20/SF/yr · vacancy 10.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$676.6K
$592.0K – $789.4K
NOI $47,363 @ 7.0% cap · market cap 5.74%
Second Best
Office B
$630.0K
$551.3K – $735.0K
NOI $44,100 @ 7.0% cap · market cap 5.35%
Theoretical Best
Office A
$880.2K
$770.2K – $1.03M
NOI $61,614 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar Places Nearby
- Banfield Pet Hospital — 849 E 23rd St, Panama City, FL 32405
- 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
Map
- City
- Panama City
- County
- Walton
- State
- Florida
- Longitude
- -85.6581
- Latitude
- 30.1989
Nearby Similar for Sale
FAQs
What type of property is this?
Medical Office Space - +/-3500sf medical office space
Where is this medical office space located?
The property is located at 2507 Harrison Ave Suite 200 Panama City FL 32405 Panama City, FL.
What is the asking price?
The asking price for this property is $825,000.
