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    Property profile & analytics
    OFF-MARKET Estimated value $1,210,000
    Medical Office Space

    221 23rd St, Panama City, FL 32405-7612

    8,468 SF 0.64 ac lot Built 1980
    Entity Owned 2-yr Hold Free & Clear
    Property ID
    US18-0597826
    Property summary
    AI-generated overview

    This exceptional 2,720-square-foot medical office suite, located at 221 E 23rd Street, presents a unique investment opportunity. Built in 1980, the single-tenant property boasts a highly desirable location offering excellent visibility and signage. Its strategic placement ensures easy access and proximity to a variety of commercial businesses, including numerous national retailers. The suite's convenient location is further enhanced by its close proximity to both Ascension Sacred Heart Bay and HCA Florida Gulf Coast Hospitals, making it an ideal setting for medical professionals seeking a thriving patient base. The interior layout is well-designed and functional, featuring a spacious lobby/waiting area complete with a check-in window. Nine exam rooms/office spaces provide ample room for patient consultations and administrative tasks. Three executive offices offer private space for administrative staff or specialists. A convenient kitchen/breakroom and two restrooms add to the overall functionality and comfort of the space. The property's APN is 12976-013-000. This turnkey medical office suite is ready for immediate occupancy and represents a compelling opportunity for medical practices seeking a well-appointed and strategically located space. The property is currently vacant.

    Property profile
    Verified
    Property type Medical Office Space
    Use group MEDICAL BUILDING
    Year built 1980
    Construction WOOD
    Total area 8,468 SF
    Lot 0.64 ac (27,966 SF)
    Zoning code PC09
    APN 12976-013-000
    UPID US18-0597826
    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
    • Seaside Spine Alternative Medicine Practice
    • ARACELIA BERNIER, M.D. Physician
    • Dr. Timothy G. Moriarty, MD Physician
    • laser spine surgery Physician
    • Pizza Hut Take-out & Catering
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $1.14M
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $1.06M
    Blend (final) Blend
    $1.21M
    Owner & transaction history
    Tamim Executive Center LLC · 2 yrs held
    Tamim Executive Center LLC
    since 2023
    Last sale
    $1.4M
    1 recorded transaction
    2023
    $1.4M
    Zoning & alternative use
    PC09 · Panama City, FL
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Office building $1.8M +69.1%
    Retail stores $1.3M +22.4%
    Commercial (general) $1.2M +15.5%
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