$800,000
Panama City, FL 32405
MLS# 749206
Status: Sold
2781 sqft
1 / 7
Property Description
Net Leased Investment Property. 23rd Street Retail Building, currently leased by Community Bank. The building features an attractive façade with large storefront windows facing 23rd Street, designed to catch eyes and attract customers. High ceilings create an expansive interior, providing for a two-story layout. These architectural elements not only add character but also offer the tenant versatility in utilizing the space. 10 surface parking spaces dedicated to the property are available. Moreover, the Tenant maintains an additional off-site parking agreement with neighboring Willow Lake Commercial Center that allows for expanded parking options, making it convenient for Community Bank employees and customers alike. Investment Benefits Long-term lease with stable, credit tenant Located on 23rd St Panama City's major retail and commercial stretch High-visibility with landmark retail neighbors. Upside with annual rent increase and net lease structure for pass thru of Operating Expenses.
Details
Maps
Contract Info
List Price/SqFt: 305.65
List Date: 2023-11-13
List Price: $850,000
Current Price: $800,000
Sub-Type: Retail
Location
Sub Area: 0204 - Bay - Central NW
Community/Resort: None
Waterfront: No
Elementary School: Northside
Middle School: Jinks
High School: Bay
Directions: Located on the north side of W 23rd St. Between Frankford Ave to the west and Lisenby Ave to the East. The building is leased by Community Bank and is across from Sam's Club and Regal Movie Theaters.
Area: 02 - Bay County - Central
Street #: 1602
Street Direction: W
Street Name: 23rd
Street Suffix: Street
State: FL
Zip Code: 32405
County: Bay
Subdivision: St. Andrews Bay Dev. Co.
Parcel ID: 13189-010-000
Legal Description: 30 3S 14W -133.5- ST AND BAY DEV CO PLAT COM INT OF SE R/W LINE FORTUNE AVE & N R/W 23RD ST E ALONG N R/W 23RD ST 233.40' FOR POB TH E 71.60' N 171.09' W 72.96' S 171.08' TO POB ORB 3326 P 1280
General Property Info
List Class: Commercial
Acreage: 0.28
Construction Status: Construction Complete
# of Stories in Building: 2
SqFt Tot Bldg: 2781
Year Built: 2003
Listing Info, Tax and Legal
HOA Fee: No
Remarks & Misc
Remarks: Net Leased Investment Property. 23rd Street Retail Building, currently leased by Community Bank. The building features an attractive façade with large storefront windows facing 23rd Street, designed to catch eyes and attract customers. High ceilings create an expansive interior, providing for a two-story layout. These architectural elements not only add character but also offer the tenant versatility in utilizing the space.
10 surface parking spaces dedicated to the property are available. Moreover, the Tenant maintains an additional off-site parking agreement with neighboring Willow Lake Commercial Center that allows for expanded parking options, making it convenient for Community Bank employees and customers alike.
Investment Benefits
Long-term lease with stable, credit tenant
Located on 23rd St Panama City's major retail and commercial stretch High-visibility with landmark retail neighbors. Upside with annual rent increase and net lease structure for pass thru of Operating Expenses.
Status Change Info
Sold Price/SqFt: 287.67
Sold Price/Acre: 2857142.86
Status: Sold
Under Contract Date: 2024-05-08
Sold Date: 2024-05-08
Sold Price: $800,000
Financing
Cash: 1
Floors in Unit/Home
Two: 1
Heating/Cooling
AC - Central: 1
Income Producing
Property Type: Retail
Property Features
Financing: Cash
Listing Office: Five Bridges Real Estate Services Co. LLC
Last Updated: October - 04 - 2024
Information deemed reliable but not guaranteed.