$5,750,000
912-1120 THOMAS Drive
Panama City Beach, FL 32408
MLS# 666930
25447 sqft


912-1120 THOMAS Drive, Panama City Beach, FL 32408
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Property Description
Coastal Palms Village consists of a 16,219 square feet Retail Stip Center and a 6901 square feet Class A Building. The site consists of +/- 4 acres with 1150' frontage on Thomas Drive, directly across from the Naval Support System. Completed in 2008, it is Class A construction with tremendous upside. The strip center has 10 spaces and is constructed of concrete poured block and steel beam supported ceilings. The roof is tile and one piece member of rubber. It is equipped with a complete fire sprinkler system and is monitored on a 24/7 basis. The 6901 square feet Class A Building has 2 spaces. The complex also has excellent signage on Thomas Drive. Cap Rate is 5.7%. All leases are Triple Net Leases. Tremendous Upside! Tenants include Dunkin Donuts, Rupert's Cleaners, Rose's Nails, The Egg &

Details
Maps
Contract Info
List Price: 5750000
List Price/SqFt: 225.96
Current Price: 5750000
Sub-Type: Other
Location
Area: 03 - Bay County - Beach
Street #: 912-1120
Street Name: THOMAS
Street Suffix: Drive
State: FL
Zip Code: 32408
County: Bay
Sub Area: 0319 - Beach - East
Subdivision: Coastal Palms Commercial
Community/Resort: None
Waterfront: No
Parcel ID: 30159-400-106
Elementary School: Patronis
Middle School: Surfside
High School: Arnold
Directions: FROM HATHAWAY BRIDGE, SOUTH ON THOMAS DRIVE, PROPERTY LOCATED ACROSS FROM NAVAL COASTAL SYSTEMS CENTER ENTRY GATE.
Legal Description: COASTAL PALMS COMMERCIAL LOTS 1, 2, 3, 7, 8, according to the plat recorded in Plat Book 23, Page 56, of the public records of Bay County, Florida.
General Property Info
List Class: Commercial
Construction Status: Construction Complete
Stories: 1
Apx SqFt(Htd/Cooled): 25447
Year Built: 2008
Listing Info, Tax and Legal
HOA Fee: No
Status Change Info
Status: Active
Property Features
Construction/Siding: Concrete; Floor - Concrete
Financing: Cash; Conventional; Owner
Offering Type: Sale with Lease
Pricing Type: Sale Price
Present Zoning: General Commercial
Transport. Access: 4-Lane
Supplements
I Restaurant, Legacy Cabinets, Fatty Patty's Restaurant and Cakes, 4m Engineering, Nephrology Associates, and Fatty's Sandwich. Two Units are Available for Lease in the Strip Center. Other Tenants in the area are: Dick's Wings, Bruster's Ice Cream, Burger King, LaQuinta Hotel and others. SELLER IS OFFERING FINANCING WITH 30% DOWN, PAYMENTS BASED ON 30 YEAR TERM WITH A 10 YEAR CALL. INTEREST RATE 6.5%. IN ADDITION, SELLER WILL ENTERTAIN A 33% PARTNER (DEBT FREE INVESTMENT). Properties are also being Sold individually. See MLS 666936 and 666940 for details of individual tenants.

Listing Office: Varnes Realty

Last Updated: December - 04 - 2018

Information deemed reliable but not guaranteed.

Monday 17th of December 2018 04:30 AM