1031 15Th St Panama City, FL 32401
- Turn key restaurants
- 6,280 SF
- 1.46 lot acres
Current Use by Public Records
- Big Chicken / Fast Food Restaurant / Chicken Restaurant
- Corams Steak and Egg / Restaurant
- Southern Crunch Authentic New Orleans Food / Seafood Restaurant
Property Details for 1031 15Th St
- Year built
- 1972
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.46 lot acres
- Property size
- 6,280 SF
- Zone code
- PC09
- Property type
- Turn key restaurants
- APN
- 18653-010-000
- APU
- 18653010000
Description
This exceptional 6,280-square-foot restaurant property presents a unique investment opportunity in Panama City, Florida's thriving Bay County. Located at 1031 W 15th St, this 1.459-acre lot boasts ample parking and a high visibility location with a 35,000 AADT count. Currently vacant, the building, constructed in 1972, offers a turnkey setup for a new restaurant or other commercial venture. Features include two walk-in coolers, a walk-in freezer, hood systems, and BBQ smokers, capable of seating up to 150 patrons (including outdoor seating). The property is zoned commercial and offers flexibility: renovate and lease, demolish and rebuild with a ground lease, or purchase outright. Its adaptable nature makes it suitable for various uses, including a medical office or urgent care clinic. The asking price is $2,500,000, with a price per square foot of $398.09. This is an absolute NNN lease type property. The property is available for immediate viewing. Lease options are available for discussion. This is a rare opportunity in a rapidly growing market. The APN is 18653-010-000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,960,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,520,000
- 6.5%
- $2,440,000
- 7%
- $2,410,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,175,000
- Geo Method
- $2,325,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,135,000
- Retail
- $2,325,000
- Mixed-Use
- $2,205,000
- Hospitality
- $2,720,000
- Educational
- $2,145,000
- Residential Income
- $2,515,000
- Energy
- $2,165,000
- Income-Based Land
- $2,510,000
- Food Service
- $2,535,000
Location Insight
- Map
- Local Demand
- City
- Panama City
- County
- Bay
- State
- Florida
- Longitude
- -85.6771
- Latitude
- 30.1747
- CBSA code
- 37460
- CBSA name
- PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA
