1030 E 23rd St | Panama City, FL 32405
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- LoopNet Team
1030 E 23rd St
Panama City, FL 32405
La Quinta by Wyndham Panama City · Hospitality Property For Sale
·
63,324 SF
INVESTMENT HIGHLIGHTS
- Property underwent a nearly $10.0M comprehensive renovation in 2019/2020 following Hurricane Michael
- Highly favorable corporate PIP not due until 2028 that is limited to $5,000 per key
- Located within 15 miles of all the major demand generators in Panama City
- The Hotel is being offered at a significant discount to replacement cost
- Stable in-place cash flow with revenues of over $3.0M in 2024
- Unencumbered by management creates significant operating upside for an owner-operator
PROPERTY FACTS
| Property Type | Hospitality | No. Stories | 6 |
| Property Subtype | Hotel | Year Built/Renovated | 1998/2021 |
| Building Class | B | Parking Ratio | 0.91/1,000 SF |
| Lot Size | 2.24 AC | Corridor | Interior |
| Building Size | 63,324 SF | ||
| Zoning | GC 1 - Commercial Business | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 2.24 AC |
| Building Size | 63,324 SF |
| No. Stories | 6 |
| Year Built/Renovated | 1998/2021 |
| Parking Ratio | 0.91/1,000 SF |
| Corridor | Interior |
| Zoning | GC 1 - Commercial Business |
AMENITIES
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
PROPERTY TAXES
| Parcel Number | 14406-000-000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $5,025,876 |
PROPERTY TAXES
Parcel Number
14406-000-000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$5,025,876
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