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1602 Martin Luther King Boulevard, Panama City, FL 32405

$1,100,000
Property Type: Commercial for Sale Square Footage: 7,612 Lot Size (sq. ft.): 81,022 Status: Sold
Current Price: $1,400,000 List Date: 9/21/2023 Last Modified: 5/16/2025

Description

This property is a perfect location for any construction services, industrial services, or a manufacturing business. This is a 1.86 acre fenced in lot with an electric security gate. Property is conveniently located to main roadways including Hwy 231, Hwy 77, Hwy 98 and 23rd St. Highlights include 2875 sq/ft of office and 4257 sq/ft of warehousing, asphalt slab approx 162' x 162', with plenty of greenspace, and extra auxiliary storage buildings. There is available access to MLK Blvd and to Louisiana Ave. The property provides approx. 345 feet of main road frontage off of MLK Blvd. Lot is Industrial commercial zoning. Recently renovated Office building includes: 5 offices, 3 bathrooms, a kitchenette, and reception area. Office has a standing seam metal roof from 2022, hot water heater 2022, HVAC 2022. Office also features an icehouse where team members can fill up coolers before going into the field. Wearhouse building has 7 roll up bay doors, 3 of which are 16ft power roll up bay doors. Wearhouse building has a 2019 screw down metal roof. This property features 37 parking spaces with plenty of room for additional parking, as well as plenty of room for additional building and expansion. No detail was spared to make this a functional and efficient commercial use property. Note there is a new survey denoting where a portion of the frontage was sold to DOT, that can be referenced. When the DOT takes over this section, they have agreed to make all necessary repairs and renovations as a remedy.

More Information MLS# 746912

Contract Info

List Price/SqFt: 183.92 List Date: 2023-09-21 List Price: $1,400,000 Current Price: $1,100,000 Sub-Type: Office

Location

Sub Area: 0201 - Bay - Central NE Community/Resort: None Waterfront: No Elementary School: Cedar Grove Middle School: Mowat High School: Bay Directions: From US-98 E in Panama City, turn left onto N Cove Blvd/Martin Luther King Jr Blvd, property will be on the right. Area: 02 - Bay County - Central Street #: 1602 Street Name: Martin Luther King Street Suffix: Boulevard State: FL Zip Code: 32405 County: Bay Subdivision: No Named Subdivision Parcel ID: 14494-000-000 Legal Description: KEITH'S 4TH ADD. LOTS 6,7,8 BLK 2 LESS MLK R/W ORB 3020 P 1987 LESS DOT PRCL# 189.1

General Property Info

List Class: Commercial Acreage: 1.86 Construction Status: Construction Complete SqFt HVAC: 2875 SqFt - Office: 2875 SqFt - Warehouse: 4737 Frontage Ft: 340 SqFt Tot Bldg: 7612 Lot Depth: 248 Year Built: 1963

Listing Info, Tax and Legal

HOA Fee: No

Remarks & Misc

Remarks: This property is a perfect location for any construction services, industrial services, or a manufacturing business. This is a 1.86 acre fenced in lot with an electric security gate. Property is conveniently located to main roadways including Hwy 231, Hwy 77, Hwy 98 and 23rd St. Highlights include 2875 sq/ft of office and 4257 sq/ft of warehousing, asphalt slab approx 162' x 162', with plenty of greenspace, and extra auxiliary storage buildings. There is available access to MLK Blvd and to Louisiana Ave. The property provides approx. 345 feet of main road frontage off of MLK Blvd. Lot is Industrial commercial zoning. Recently renovated Office building includes: 5 offices, 3 bathrooms, a kitchenette, and reception area. Office has a standing seam metal roof from 2022, hot water heater 2022, HVAC 2022. Office also features an icehouse where team members can fill up coolers before going into the field. Wearhouse building has 7 roll up bay doors, 3 of which are 16ft power roll up bay doors. Wearhouse building has a 2019 screw down metal roof. This property features 37 parking spaces with plenty of room for additional parking, as well as plenty of room for additional building and expansion. No detail was spared to make this a functional and efficient commercial use property. Note there is a new survey denoting where a portion of the frontage was sold to DOT, that can be referenced. When the DOT takes over this section, they have agreed to make all necessary repairs and renovations as a remedy.

Status Change Info

Sold Price/SqFt: 144.51 Sold Price/Acre: 591397.85 Status: Sold Under Contract Date: 2025-02-10 Sold Date: 2025-05-16 Sold Price: $1,100,000

Construction/Siding

Roof - Metal: 1 Siding - Hardie Board: 1 Trim - Hardie Board: 1

Energy

AC - Central Elect: 1 Heat - Central Electric: 1

Financing

Cash: 1 Conventional: 1 FHA: 1 VA: 1

Present Zoning

Commercial: 1

Utilities

Electric 220/240: 1 Electricity - Availabile: 1 Public Sewer - Connected: 1 Water Connected: 1

Accessibility Features

Accessible Approach with Ramp: 1

Business Only

Year Built: 1963

Business/Property

Handicapped Access: 1 Kitchen Area: 1 Office Area: 1 Restrooms - Private: 1

Floors in Unit/Home

One: 1

Offering Type

Real Estate: 1

Site Description

Cleared: 1

Transport. Access

4-Lane: 1 Divided Highway: 1 Paved: 1 State Road: 1

Property Features

Accessibility Features: Accessible Approach with Ramp Energy: AC - Central Elect; Heat - Central Electric Financing: Cash; Conventional; FHA; VA Offering Type: Real Estate Present Zoning: Commercial Site Description: Cleared Utilities: Electric 220/240; Electricity - Availabile; Public Sewer - Connected; Water Connected
Listing Office: EXP Realty LLC
Last Updated: May - 16 - 2025
Information deemed reliable but not guaranteed.