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:
$1,115,000
List Date:
9/05/2024
Last Modified:
2/18/2025
Listing Details MLS# 762279
Contract Info
- List Price/SqFt
- 271.74
- Sub-Type
- Income Producing
Location
- Area
- 02 – Bay County – Central
- Street #
- 2306
- Street Name
- Hwy 77
- State
- FL
- Zip Code
- 32405
- County
- Bay
- Sub Area
- 0201 – Bay – Central NE
- Subdivision
- [No Recorded Subdiv]
- Community/Resort
- None
- Waterfront
- No
- Parcel ID
- 12983-010-000
- 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.
- 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
- Construction Status
- Construction Complete
- SqFt Unit
- 4048
- Site Dimensions
- 115 x 130
- Acreage
- 0.36
- Frontage Ft
- 245
- Lot Depth
- 130
- Lot SqFt
- 15899
- SqFt HVAC
- 4048
- SqFt Tot Bldg
- 4048
- Year Built
- 1984
Status Change Info
- Under Contract Date
- 2024-10-21
- Sold Date
- 2025-02-17
- Sold Price/SqFt
- 275.44
- Sold Price/Acre
- 3097222.22
Other
- Year Built
- 1994
- Actual Gross Income
- 112692
- Expenses
- 18245
- Net Operating Income
- 94450
- Cap Rate
- 8.5
- # of Units
- Yes
Listing Info, Tax and Legal
- HOA Fee
- No
More Information
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
Construction/Siding
- Floor – Vinyl
- Yes
- Roof – Metal
- Yes
Energy
- AC – 2 or More
- Yes
- AC – Central Elect
- Yes
- AC – High Efficiency
- Yes
- Heat – Central Electric
- Yes
- Water Heater – Electric
- Yes
Financing
- Cash
- Yes
- Conventional
- Yes
Present Zoning
- Commercial
- Yes
Utilities
- All Utilities
- Yes
Accessibility Features
- Accessible Approach with Ramp
- Yes
- Accessible Bedroom
- Yes
- Accessible Common Area
- Yes
- Accessible Doors
- Yes
Business/Property
- AAA Tenant
- Yes
- Freestanding Building
- Yes
- Handicapped Access
- Yes
- Restrooms – Private
- Yes
- Restrooms – Public
- Yes
- Sign
- Yes
Floors in Unit/Home
- One
- Yes
Heating/Cooling
- AC – Central
- Yes
- AC – HVAC
- Yes
- Heat – Central Electric
- Yes
Site Description
- Corner Location
- Yes
- Landscaped
- Yes
Transport. Access
- 4-Lane
- Yes
- Paved
- Yes
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.