1602 Martin Luther King Blvd Panama City, FL 32405

Property Details for 1602 Martin Luther King Blvd

Year built

1963

Property type

Office Properties & Spaces

Description

This exceptional commercial property, located at 1602 Martin Luther King Boulevard in Panama City, Florida (zip code 32405), is offered at $1,400,000. The 81,021.6 square foot lot boasts an ideal location with easy access to major roadways including Hwy 231, Hwy 77, Hwy 98, and 23rd Street, providing excellent visibility and convenient transportation. The property features a recently renovated 2,875 square foot office building and a 4,257 square foot warehouse. The office building, completed in 2022, includes five offices, three bathrooms, a kitchenette, a reception area, and a unique icehouse for employee convenience. Recent upgrades include a standing seam metal roof, hot water heater, and HVAC system. The warehouse features seven roll-up bay doors, three of which are 16-foot power roll-up doors, and a 2019 screw-down metal roof. The property also includes an asphalt slab approximately 162 feet by 162 feet, ample green space, and additional auxiliary storage buildings. There are 37 parking spaces with room for expansion. The property has approximately 345 feet of frontage on Martin Luther King Boulevard and additional access via Louisiana Avenue. The lot is zoned for industrial commercial use. A new survey is available that details a portion of the frontage sold to the Department of Transportation (DOT); the DOT has agreed to complete necessary repairs and renovations to the affected area. This property is perfect for construction, industrial, or manufacturing businesses seeking a functional and efficient space with significant expansion potential. Built in 1963, this property is fully fenced with an electric security gate.