$2,750,000
Panama City Beach, FL 32407
MLS# 692280
Status: Sold
8088 sqft
Property Description
+/- 6.42 Acres, Here is your chance to own a fully operational income producing, 100% occupied Commercial Park with 3 separate buildings. Located on 2 Parcels with multiple tenants 34034-070-000 and 34034-070-050. You can either own the full complex or check out the other listing for just the Gym and Salon (34034-070-050). With this listing however the possibilities are virtually endless. Investment wise it is bringing in over 300k a year in leases producing a cap rate of 8 -10% with with the potential to grow and add more tenants. This centrally located prime real estate is could also be a opportunity to be a new development with the high traffic area like middle beach with easy in and out access to boot.
Details
Maps
Contract Info
List Date: 2018-11-30
List Price: $3,050,000
List Price/SqFt: 377.1
Current Price: $2,750,000
Sub-Type: Industrial
Location
Area: 03 - Bay County - Beach
Street #: 12202
Street Name: Hutchison
Street Suffix: Boulevard
State: FL
Zip Code: 32407
County: Bay
Sub Area: 0320 - Beach - Middle Central
Subdivision: [No Recorded Subdiv]
Community/Resort: None
Waterfront: No
Parcel ID: 34034-070-000
Elementary School: Hutchison Beach
Middle School: Surfside
High School: Arnold
Directions: located on the north side of Hutchison Boulevard between Alf Coleman Road to the west and Richard Jackson Boulevard to the east.
Legal Description: 26 3S 16W -4.7- 47B BEG 178.94' N & 220' SELY OF SW COR OF NW1/4 OF SW1/4 FOR POB TH N 610.96' E 429' S 667.10' W 345.43' NWLY 100.58' TO POB AKA PCL B ORB 3049 P 197 LESS -4.71- SUB TO ESMNT OF INGRESS/EGRESS N/K/A 26 3S 16W -4.7- 47B COMM AT SW COR OF NW 1/4 OF SW 1/4 TH N 178.94' TO NLY ROW LI OF HWY THE S56-19E ALG ROW 220' FOR POB TH N 610.96', S50-22E 261.69', S62-04E 92.55 S 197.63', W 199.
General Property Info
List Class: Commercial
Construction Status: Construction Complete
Acreage: 6.42
SqFt Tot Bldg: 8088
Year Built: 1992
Status Change Info
Status: Sold
Under Contract Date: 2018-11-30
Sold Date: 2019-12-05
Sold Price: $2,750,000
Sold Price/SqFt: 340.01
Sold Price/Acre: 428348.91
Property Features
Listing Office: Beachy Beach Real Estate
Last Updated: October - 04 - 2024
Information deemed reliable but not guaranteed.