722 N Cove Blvd, Panama City, FL 32401
Versatile building near Downtown with 10 bedrooms and 8 bathrooms, suited for office, medical, or hospitality concepts.
- Added:
- Mar 26, 2026
- Days on Market:
- 79
- Last Refresh:
- Jun 11 at 2:51 am
Property Features for 722 N Cove Blvd
General Information
- Standard status
- Active
- Size
- 3,000 SF
- Lot size
- 0.27 Acres
Listing agent Will Pender License #sl3381749 (850) 358-3610
Listing office Keller Williams Success Realty (850) 358-3610
Listing date Mar 26, 2026
Source Exprealty
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HighLights
- Listing includes both properties: 722 Martin Luther King and 722 1/2 MLK
- Over 3,000 sq. ft. commercial building on a 0.27‑acre lot
- 10 bedrooms and 8 bathrooms across the property’s flexible layout
- Minutes from Downtown, the hospital, and major shopping centers
- Layout supports private offices, client suites, or guest accommodations for office, medical, hospitality, or mixed‑use use
Overview
The property is located near Downtown, major shopping centers, and the hospital, with convenient access described as a key benefit. The building sits on a 0.27-acre lot, which may allow for on-site parking and/or future expansion, as indicated in the provided remarks. The listing is for both properties: 722 N Cove Blvd and 722 1/2 MLK.
For buyers and operators, the combination of multiple rooms and bathrooms provides a practical starting point for a range of uses, including office operations, medical or wellness practices, boutique lodging, or assisted-living concepts. If you are looking for a single building that can be adapted to different tenanting or service formats, this configuration may offer the flexibility to align space planning with your specific program.
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 | $75.6k | $25.20 |
| − Vacancy | −$7.9k | −$2.65 |
| EGI | $67.7k | $22.55 |
| − OpEx | −$27.1k | −$9.02 |
| NOI | $40.6k | $13.53 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Panama City
- County
- Walton
- State
- Florida
- Longitude
- -85.650029
- Latitude
- 30.162189
