DEP Property: Bay County

Special Purpose for Sale
Sealed Bids
Catylist Listing ID: 30733428
Property Subtypes: Health Care/Medical
Building Size (RSF): 12,588 SF
Gross Building Area: See Agent
Gross Land Area: 3.25 Acres
Sale Price: $330,000
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Undisclosed
Auction Type: Disclosed Reserve
Auction License Number: DSL-BID-21-001
Sealed Bids: Yes
Call for Offers: Yes
Cap Rate: Undisclosed
Last Updated: 5/24/2021

Overview / Comments

This property is located centrally in Panama City on ±3.25 acres on Lisenby
Avenue. The site consists of three single-story buildings each with 4,196 Sf of
heated & cooled space, constructed in 1983, and is strategically located between
23rd Street and 15th Street (US Highway 98) which are both primary commercial/
retail corridors in the Panama City market.

RE-DEVELOPMENT OPPORTUNITY
Ideal for a variety of investment/development purposes, including rehabilitation of
existing structures. Zoning also allows light industrial, self-storage, medical office
and other commercial and business services uses.

Additional Details

Nearest MSA: Panama City
County: Bay
Tax ID/APN: 13784-070-000
Property Visibility: Good
Largest Nearby Street: Lisenby Ave
Traffic/Vehicle Count: 8,300
Highway Access: Centrally located in Panama City on a secondary road connecting two primary commercial corridors. Heavy local traffic (8,300 avg daily traffic count) as a local “cut-through” connecting the two corridors which each have 30,000+ average daily traffic.
Site Description: Three single-story buildings each with 4,196 Sf of heated & cooled space, constructed in 1983.
Area Description: The property is located 3.5 miles north of historic Downtown Panama City, under 30 minute drive time to both both Tyndall Air Force Base (13 miles to the east) and to Naval Support Activity (Naval Surface Warfare Center) 6 miles to the west. The central location is conveniently accessible to all points on the Bay County map, with US Hwy 98 within 2 miles of the subject.
Total Number of Buildings: 3
Number of Stories: 1
Property Condition: Fair
Year Built: 1983
Construction/Siding: Brick
Zoning Description: Property Use Code: TIITF (008710)

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,816 42,881 86,849
Median Age: 39.28 40.53 39.84
Households: 3,115 18,420 35,944

Contact

Photograph of Listing Agent

Thomas D. Watson

CBRE, Inc. Gulf Coast CMLS Member
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