1035 E 23Rd St Panama City, FL 32405
- Hotels
- 29,886 SF
- 1.80 lot acres
Current Use by Public Records
- Days Inn by Wyndham Panama City / Hotel / Inn
Property Details for 1035 E 23Rd St
- Year built
- 1994
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.80 lot acres
- Property size
- 29,886 SF
- Zone code
- PC09
- Property type
- Hotels
- APN
- 12987-000-000
- APU
- 12987000000
Description
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.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $3,125,000
- 6.5%
- $2,885,000
- 7%
- $2,675,000
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Location Insight
- Map
- Local Demand
- City
- Panama City
- County
- Bay
- State
- Florida
- Longitude
- -85.6421
- Latitude
- 30.1902
- CBSA code
- 37460
- CBSA name
- PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA
