$3,650,000
Panama City, FL 32401
MLS# 674270
Status: Sold
27313 sqft
1 / 40
Property Description
Investment Opportunity! 100% occupied office building for sale. The credit tenants include two state agencies; The Department of Education, The Department of Children & Families and another national credit tenant ''National Coating Systems, Inc.'' Approximately 27,313 square feet on +/-2.92 acres. Centrally located in Panama City on West 15th Street (a/k/a ''U.S. Highway 98'') with frontage from the corner of Hickory Avenue to Foster Avenue. The net operating income is $360,809, which equates to an 8.5% cap rate at the list price and current income. Call for details.
Details
Maps
Contract Info
List Date: 2018-07-10
List Price: $4,250,000
List Price/SqFt: 155.6
Current Price: $3,650,000
Sub-Type: Income Producing
Location
Area: 02 - Bay County - Central
Street #: 2505
Street Direction: W
Street Name: 15TH
Street Suffix: Street
State: FL
Zip Code: 32401
County: Bay
Sub Area: 0203 - Bay - Central SW
Subdivision: No Named Subdivision
Community/Resort: None
Waterfront: No
Parcel ID: 29647-000-000
Section: 1
Township: 4S
Range: 15W
Elementary School: Oakland Terrace
Middle School: Jinks
High School: Bay
Directions: Located on the south side of W. 15th Street at the corners of Foster Avenue and Hickory Avenues (a/k/a U.S. Highway 98) in the former Curry Printing Building, which is now occupied by Department of Children & Families and Department of Education.
Legal Description: 1 4S 15W NE1/4 LOTS 1 TO 7 INC & 12 TO 18 INC ORB 1561 P 529 BLK 5
General Property Info
List Class: Commercial
Immediate Occupancy: No
Possession Date: 2/1/18
Construction Status: Construction Complete
# of Units: 1
SqFt HVAC: 27313
SqFt - Workarea: 27313
SqFt - Office: 27313
SqFt Tot Bldg: 27313
Year Built: 1941
Status Change Info
Status: Sold
Under Contract Date: 2019-03-16
Sold Date: 2019-05-29
Sold Price: $3,650,000
Sold Price/SqFt: 133.64
Business Only
Year Built: 1941
Building SqFt: 27313
Cap Rate: 8.5
Net Operating Income: 360809
Income Producing
Year Built: 1941
Building SqFt: 27313
Net Operating Income: 360809
Cap Rate: 8.5
Property Type: Office
Industrial
# Dock High Doors: 3
Sprinklers?: Yes
Property Features
Energy: AC - 2 or More; AC - Central Elect
Financing: Cash; Conventional
Offering Type: Real Estate; Sale Only; Sale with Lease
Pricing Type: Sale Price
Present Zoning: Commercial
Sale Type: As Is; Other - See Remarks
Site Description: Aerials Available; Corner Location; Landscaped
Utilities: All Utilities; Electric 220/240; Electricity - Availabile; Electric-3 Phase; Fuel - Electric; Natural Gas - Available; Public Sewer - Connected; Water Connected; TV Cable; Yard Maintenance
Listing Office: Counts Real Estate Group Inc
Last Updated: October - 04 - 2024
Information deemed reliable but not guaranteed.