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    2300 23Rd St Panama City, FL 32405

    For Sale
    $3,900,000

    6.24 Acres, High Traffic Area

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 6.24-acre commercial land parcel presents a remarkable investment opportunity in Panama City, Florida. Strategically located on the high-traffic 23rd Street corridor, this property boasts 300 feet of frontage on W 23rd Street and 180 feet on Frankford Avenue, benefiting from an estimated 24,000 vehicles daily. Its proximity to key landmarks is a significant advantage: 3.4 miles to Panama City Beach, 2.2 miles to a major medical center, 4 miles to the City Marina and Downtown, 2.3 miles to St. Andrews Marina, and 1.9 miles to Gulf Coast College and Florida State University Panama City Campus. The site's location near established businesses like Sam's Club and Bill Cramer Chevrolet, Buick, GMC further enhances its appeal. While a portion is currently zoned residential (Bay County), annexation to the city of Panama City is possible. All utilities are readily available. The asking price for this prime development site is $3,900,000. This presents a unique chance to capitalize on the rapidly growing Panama City-Bay County market.

    Property Features for 2300 23Rd St

    General Information

    Property type
    Land
    Lot Size
    271,814 SF

    HighLights

    • 6.24‑acre commercial land parcel in Panama City, FL, priced at $3,900,000.
    • High‑traffic location on 23rd Street with 300' frontage and 180' on Frankford Avenue, seeing approximately 24,000 vehicles daily.
    • Excellent proximity to Panama City Beach, major medical center, City Marina, Downtown, St. Andrews Marina, and Gulf Coast College/FSU Panama City.
    • Near established businesses like Sam's Club and Bill Cramer Chevrolet.
    • Utilities available; potential for city annexation; currently partially residentially zoned.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Bay
    State
    Florida
    Longitude
    -85.6945935
    Latitude
    30.1903826

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    FAQs

    What type of property is this?
    Land - 6.24 Acres, High Traffic Area
    Where is this land located?
    The property is located at 2300 23Rd St Panama City, FL.
    What is the asking price?
    The asking price for this property is $3,900,000.
    What are key features of this property?
    This property features: 6.24-acre commercial land parcel in Panama City, FL, priced at $3,900,000.; High-traffic location on 23rd Street with 300' frontage and 180' on Frankford Avenue, seeing approximately 24,000 vehicles daily.; Excellent proximity to Panama City Beach, major medical center, City Marina, Downtown, St. Andrews Marina, and Gulf Coast College/FSU Panama City.
    Request Owner's contact information
    2300 23Rd St Panama City, FL 32405
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    Panama City, FL 32405
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2300 23Rd St Panama City, FL 32405
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