1031 W 15Th St, Panama City, FL 32401
- Turn key restaurants
- 6,280 SF
- 1.46 lot acres
Current Use by Public Records
- Big Chicken / Restaurant / Take-out & Catering
- Corams Steak and Egg / Restaurant
- Southern Crunch Authentic New Orleans Food / Restaurant
Property Details for 1031 W 15Th St
- Year built
- 1972
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.46 lot acres
- Zone code
- PC09
- Property type
- Turn key restaurants
- APN
- 18653-010-000
- APU
- 18653010000
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Oct 27, 2022 | $2,375,000 | Faat Pigs LLC | Frc Prg 15th Street LLC | Special Warranty Deed | $1.5M · South State Bank NA |
| May 31, 2022 | $650,000 | Frc Prg 15th Street LLC | Drew Station INC | Special Warranty Deed | $1.3M · Dallas Capital Bank NA |
| May 6, 2022 | — | Drew Station INC | Michael R Drew | Individual Deed | — |
| Jul 7, 2009 | — | Drew Station INC | Ownership Opportunities INC | Quit Claim Deed · related | — |
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 Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,960,000
- ML approach
- $1,955,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,726,000
Market price range: $685k - $2.43M -
Alternative Use
- Use
- Estimation
- RESTAURANT
- $1,520,000 Current use
- AUTO REPAIR, GARAGE
- $3,015,000 Change: +98% Conversion: Difficult
- OFFICE BUILDING
- $1,340,000 Change: -12% Conversion: Moderate
Get a detailed, property-specific estimation — fast and free
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
