2306 Hwy 77, Panama City, FL 32405
$1,115,000
Property Type:
Commercial for Sale
Square Footage:
4,048
Lot Size (sq. ft.):
15,682
Status:
Sold
Current Price:
$1,100,000
List Date:
9/05/2024
Last Modified:
2/18/2025
Description
Once in a lifetime opportunity to buy one of the best High Traffic corners in Panama City. Corner of 23rd Street and Hwy 77 both are 4 lane, in the heart of the city. This medical building
Traffic count is 21,347 daily on 23rd, and 27,219 on Hwy 77. Almost 10 million cars a year go by this property (from RPR stats) The sale also includes a Giant Billboard with $1,667 a month income. (renews next april for more). Currently leased Tenant pays monthly taxes.
Over 4,000 sf of Medical space. Has a Reception room, lab room, X-ray room, Large office, trauma room, staff room, 2 storage rooms, waiting room and 6 exam rooms. Also has a metal roof, ample parking, Large corner lighted pole sign at the corner by red light for high visibility.
Corner lot is 115×130. over 1/3rd of an acre.
** The seller is going to accept contracts for 30 days and on Oct 5th they will select the wining buyer based on price and terms.
** information herein is as an estimate only and is not guaranteed for accuracy.
More Information MLS# 762279
Contract Info
List Price/SqFt: 271.74
List Date: 2024-09-04
List Price: $1,100,000
Current Price: $1,115,000
Sub-Type: Income Producing
Location
Sub Area: 0201 – Bay – Central NE
Community/Resort: None
Waterfront: No
Elementary School: Hiland Park
Middle School: Mowat
High School: Bay
Directions: From Hwy 231 south turn right on 23rd street, the property will be on the right side corner at the 1st red light Accension Medical.
Area: 02 – Bay County – Central
Street #: 2306
Street Name: Hwy 77
State: FL
Zip Code: 32405
County: Bay
Subdivision: [No Recorded Subdiv]
Parcel ID: 12983-010-000
Legal Description: 28 3S 14W -113.3- 104B ST AND BAY DEV CO PLAT CON INT OF E R/W LINE SR #77 & N R/W 23RD ST TH N 115′ E 130′ S 115′ W 130′ TO POB ORB 4383 P 1605
General Property Info
List Class: Commercial
Site Dimensions: 115 x 130
Acreage: 0.36
Construction Status: Construction Complete
SqFt Unit: 4048
SqFt HVAC: 4048
Frontage Ft: 245
SqFt Tot Bldg: 4048
Lot Depth: 130
Lot SqFt: 15899
Year Built: 1984
Listing Info, Tax and Legal
HOA Fee: No
Remarks & Misc
Remarks: Once in a lifetime opportunity to buy one of the best High Traffic corners in Panama City. Corner of 23rd Street and Hwy 77 both are 4 lane, in the heart of the city. This medical building
Traffic count is 21,347 daily on 23rd, and 27,219 on Hwy 77. Almost 10 million cars a year go by this property (from RPR stats) The sale also includes a Giant Billboard with $1,667 a month income. (renews next april for more). Currently leased Tenant pays monthly taxes.
Over 4,000 sf of Medical space. Has a Reception room, lab room, X-ray room, Large office, trauma room, staff room, 2 storage rooms, waiting room and 6 exam rooms. Also has a metal roof, ample parking, Large corner lighted pole sign at the corner by red light for high visibility.
Corner lot is 115×130. over 1/3rd of an acre.
** The seller is going to accept contracts for 30 days and on Oct 5th they will select the wining buyer based on price and terms.
** information herein is as an estimate only and is not guaranteed for accuracy.
Office/Member Info
Seller Concessioins: Yes
Status Change Info
Sold Price/SqFt: 275.44
Sold Price/Acre: 3097222.22
Status: Sold
Under Contract Date: 2024-10-21
Sold Date: 2025-02-17
Sold Price: $1,115,000
Other
Year Built: 1994
Actual Gross Income: 112692
Expenses: 18245
Net Operating Income: 94450
Cap Rate: 8.5
# of Units: 1
Construction/Siding
Floor – Vinyl: 1
Roof – Metal: 1
Energy
AC – 2 or More: 1
AC – Central Elect: 1
AC – High Efficiency: 1
Heat – Central Electric: 1
Water Heater – Electric: 1
Financing
Cash: 1
Conventional: 1
Present Zoning
Commercial: 1
Utilities
All Utilities: 1
Accessibility Features
Accessible Approach with Ramp: 1
Accessible Bedroom: 1
Accessible Common Area: 1
Accessible Doors: 1
Business/Property
AAA Tenant: 1
Freestanding Building: 1
Handicapped Access: 1
Restrooms – Private: 1
Restrooms – Public: 1
Sign: 1
Floors in Unit/Home
One: 1
Heating/Cooling
AC – Central: 1
AC – HVAC: 1
Heat – Central Electric: 1
Site Description
Corner Location: 1
Landscaped: 1
Transport. Access
4-Lane: 1
Paved: 1
Property Features
Accessibility Features: Accessible Approach with Ramp; Accessible Bedroom; Accessible Common Area; Accessible Doors
Energy: AC – 2 or More; AC – Central Elect; AC – High Efficiency; Heat – Central Electric; Water Heater – Electric
Financing: Cash; Conventional
Present Zoning: Commercial
Site Description: Corner Location; Landscaped
Utilities: All Utilities
Listing Office:
CitiStar Realty
Last Updated: February – 18 – 2025
Information deemed reliable but not guaranteed.