Medical Office Building with Four Exam
For Sale
$640,000
2579 Huntcliff Lane, Panama City, FL 32405
Medical office building with four exam rooms, multi-purpose clinical suite, and a second-floor conference and training center.
Property Size2,846 SF
Days on Market25
Property Features for 2579 Huntcliff Lane
General Information
Standard status
Active
Size
2,846 SF
Property subtype
Commercial
Zoning
General Commercial
Amenities
conference and training center
full kitchen
restrooms
irrigation system
Building Details
Building Size
2,846 SF
Year Built
2003
Buildings
1
Stories
2
Listing Agency:
Corcoran Reverie
(850) 624-1242
Listed By:
Nicolle M Cable · License #SL3489108
(850) 624-1242
Source:
Fullsailnwfl
Added: Jul 19
Changed: Aug 8
Last Checked: Aug 12 at 12:58PM
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 Corcoran Reverie
Investment Insights
Based on property information with market context.
Built in 2003, this medical office building is designed for practice operations with patient exam and administrative functionality on the main level. The main level includes two physician offices, a private office for an office manager, and a centralized administrative workspace. There are four well-appointed exam rooms, each equipped with plumbing.
Also on the main level is a spacious multi-purpose suite that can support a range of healthcare uses such as an infusion center, procedure room, physical therapy suite, imaging room, laboratory, patient education center, or additional clinical space. The building offers six conveniently located restrooms.
A second-floor conference and training center adds flexibility for staff meetings, continuing education, executive offices, or future expansion. The upper level includes a full kitchen and a private restroom. Additional property improvements include a new irrigation system servicing the entire property.
Also on the main level is a spacious multi-purpose suite that can support a range of healthcare uses such as an infusion center, procedure room, physical therapy suite, imaging room, laboratory, patient education center, or additional clinical space. The building offers six conveniently located restrooms.
A second-floor conference and training center adds flexibility for staff meetings, continuing education, executive offices, or future expansion. The upper level includes a full kitchen and a private restroom. Additional property improvements include a new irrigation system servicing the entire property.
Key Highlights
- Built in 2003
- Four exam rooms with plumbing
- Multi‑purpose suite for uses including infusion, procedure, therapy, imaging, or lab
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,513
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$770,260
$770.3K
Cap Rate 7%
$550,186
$550.2K
Cap Rate 9%
$427,922
$427.9K
Market Conditions
NOI Build-Up for 2,846 SF
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.
Gross rent
$71.7K $25.20/SF
− Vacancy
−$7.5K −$2.65/SF
EGI
$64.2K $22.55/SF
− OpEx
−$25.7K −$9.02/SF
NOI
$38.5K $13.53/SF
Area
Walton County, FL
Vacancy
10.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$770,260
Cap Rate 7%
$550,186
Cap Rate 9%
$427,922
Alternative Uses
Best Use
Healthcare Medical
$550.2K
$481.4K – $641.9K
NOI $38,513 @ 7.0% cap · market cap 6.02%
Second Best
Office B
$512.3K
$448.3K – $597.7K
NOI $35,860 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$715.7K
$626.3K – $835.0K
NOI $50,101 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,291
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32405, FL
28,158
Population
13,585
Households
2.1
Avg Household Size
40
Median Age
29%
College-Educated
92%
High-School Grad
18.8 sq mi
ZIP Area
1,498
Density / Sq Mi
$71,002
Median Household Income
$41,867
Median Earnings
$1,418
Median Rent
$255,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- 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
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office building with four exam rooms, multi-purpose clinical suite, and a second-floor conference and training center.
Where is this medical office space located?
The property is located at 2579 Huntcliff Lane Panama City, FL.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: Built in 2003; Four exam rooms with plumbing; Multi‑purpose suite for uses including infusion, procedure, therapy, imaging, or lab
