Renovated Office Building with
2805 W 12th St Panama City, FL 32401
2805 W 12th St, Panama City, FL, 32401
$1,200,000
For Sale
$1,200,000
Renovated 7,884 SF office building on GC-2 zoning with new HVAC, electrical, plumbing, roof, windows, and storefront.
Property Size7,884 SF
Price / SF$152.21
Days on Market28
Property Features for 2805 W 12th St
General Information
- Standard status
- Active
- Size
- 7,884 SF
- Property subtype
- Office - General Office
Building Details
- Year Built
- 1953
Listing agency
Five Bridges Real Estate Services Co.
(850) 960-3418
Listed by
Anna Branch
Source
Commercialcafe
Added: Jun 25 Updated: Jul 22 at 11:06AM Checked: Jul 22 at 11:06AM
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 Five Bridges Real Estate Services Co.
Investment Insights
Based on property information with market context.
This meticulously renovated office building at 2805 W 12th St was originally built in 1953 and totals 7,884 SF. The property is offered as a single unit and has undergone a broad scope of improvements, including installation of a new HVAC system, a new electrical system with two new subpanels, new plumbing throughout, structural repairs with truss reinforcement, a new roof system, new insulation, new storefront system, and new windows. Restoration and reinforcement of the original oak flooring are also included.
The building is zoned GC-2 (General Commercial - 2 | Bay). The seller indicates a new City parking lot of 144 spaces is planned to be placed directly behind the building.
The layout and finish level support office use while also being positioned for other commercial concepts consistent with the GC-2 zoning classification.
The building is zoned GC-2 (General Commercial - 2 | Bay). The seller indicates a new City parking lot of 144 spaces is planned to be placed directly behind the building.
The layout and finish level support office use while also being positioned for other commercial concepts consistent with the GC-2 zoning classification.
Key Highlights
- Renovated 7,884 SF commercial building at 2805 W 12th St, originally built in 1953
- GC‑2 (General Commercial - 2 | Bay) zoning; single unit with versatile use as office, restaurant, or event location
- New HVAC system plus new electrical system with two new subpanels
Local 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 | $165.6k | $21.00 |
| − Vacancy | −$33.1k | −$4.20 |
| EGI | $132.5k | $16.80 |
| − OpEx | −$33.1k | −$4.20 |
| NOI | $99.3k | $12.60 |
7,884 SF · lease $21.00/SF/yr · vacancy 20.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.42M
$1.24M – $1.66M
NOI $99,338 @ 7.0% cap · market cap 8.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,790 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Renovated 7,884 SF office building on GC-2 zoning with new HVAC, electrical, plumbing, roof, windows, and storefront.
Where is this office building located?
The property is located at 2805 W 12th St Panama City, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Renovated 7,884 SF commercial building at 2805 W 12th St, originally built in 1953; GC‑2 (General Commercial - 2 | Bay) zoning; single unit with versatile use as office, restaurant, or event location; New HVAC system plus new electrical system with two new subpanels
