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Property profile & analytics
FOR SALE
Hotels

1035 E 23Rd St Panama City, FL 32405

29,886 SF 1.8 ac lot Built 1994
Individually Owned 6-yr Hold ~ Est. High Equity
Property ID
US18-4256116
1035 E 23Rd St, Panama City, FL 32405 For Sale
$435,000 29,886 SF
1035 E 23Rd St, Panama City, FL 32405
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Property summary
AI-generated overview

This exceptional commercial property, located at 1035 E 23rd Street in Panama City, Florida (zip code 32405), presents a unique investment opportunity. Situated on a high and dry lot, this parcel boasts unparalleled visibility and high traffic counts due to its prime location just before I-Hop on the left and at the corner of Mercedes Street, directly across from the Days Inn Suites. The seller is motivated to sell and is open to dividing the parcel, focusing on the section in front of the hotel. This section is ready for immediate development, offering numerous possibilities including, but not limited to, an office building or an oil change facility. The scarcity of available commercial land on 23rd Street makes this a truly rare find. The asking price is $498,900. While approximate measurements are provided, buyers are strongly encouraged to independently verify the land section's dimensions. This property is classified as Special Purpose and has a lot size of 0 sq ft (this should be verified by the buyer). The property's location offers excellent exposure and potential for significant return on investment. Don't miss this chance to secure a prime piece of Panama City commercial real estate.

Property profile
Verified
Property type Hotels
Use group HOTEL
Year built 1994
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 29,886 SF
Lot 1.8 ac (78,380 SF)
Zoning code PC09
APN 12987-000-000
UPID US18-4256116
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Days Inn by Wyndham Panama City Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$2.89M
Comparable Approach Comparable
by Request
Blend (final) Blend
$2.36M
Owner & transaction history
Mughis A Chaudhry · 6 yrs held
Mughis A Chaudhry
since 2020
4 recorded transactions
2023
Price N/A
2020
Price N/A
2015
$2.1M
1969
Price N/A
Zoning & alternative use
PC09 · Panama City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source code of ordinances
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