The BobbyJ Team

703 W 15th Street

Panama City, FL 32401

MLS#: 782345

$5,500,000

Status: Closed
Listing number: 782345
Listing provided by: NBI Properties Inc
Listing agent phone: None
Last update: N/A
On site: 4 years ago
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Property

Beds

None

Full Baths

None

1/2 Baths

None

Year Built

2016

Sq.Footage

0

1 buildings totaling 34,000 SF sitting on 2.25 acres at a major intersection, building is 34,000 SF with 2 long term tenants, one being a GSA tenant, recently renovated, new plumbing, wiring, new roof etc

Features & Amenities

Interior

  • Total Bedrooms

    N/A

  • Bathrooms

    N/A

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Pool

    No

Area & Lot

  • Lot Size(acres)

    3.35

  • Lot Size(square feet)

    145926.0

  • Property Type

    Commercial Sale

Price

  • Sales Price

    $5,500,000

  • Zoning

    Commercial

  • Sq. Footage

    N/A

  • Price/SqFt

    N/A

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • New Construction

    NO

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Location

County

Bay

Elementary School

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High School

Listing Courtesy of Craig S Barrett , NBI Properties Inc

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Agent The BobbyJ Team

Team

The BobbyJ Team

Call The BobbyJ today to schedule a private showing.

(850) 865-7798

Info@bobbyj30a.com


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1 buildings totaling 34,000 SF sitting on 2.25 acres at a major intersection, building is 34,000 SF with 2 long term tenants, one being a GSA tenant, recently renovated, new plumbing, wiring, new roof etc

703 W 15th Street

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This 50-unit garden-style community delivers strong fundamentals and consistent performance, supported by a diverse unit mix of 8 one-bed, 20 two-bed, 12 three-bed, and 10 four-bed units. With 42 units renovated since 2020—featuring updated flooring, fresh paint, windows, and fixtures—the property offers modern appeal and reduced turnover risk. Additional income is generated through an on-site laundry facility, and a separate office building with storage provides valuable operational flexibility. Major capital improvements include new metal roofs, upgraded electrical panels, and multiple HVAC and water-heater replacements, minimizing near-term CapEx exposure. Steady occupancy and an assumable $4.57M, 3.75% fixed-rate non-recourse loan enhance the investment's strength in today's lending environment. Positioned near major retailers, schools, employment centers, and within minutes of Panama City Beach, the property sits in a high-demand rental corridor with long-term growth potential. A recent price adjustment further improves the opportunity for investors seeking stability and upside.
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None Beds

None Baths

N/A

$6,243,750

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