$4,700,000
3009 Highway 77
Panama City, FL 32405
MLS# 699626
Status: Sold
29428 sqft


3009 Highway 77, Panama City, FL 32405
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3009 Highway 77, Panama City, FL 32405 3009 Highway 77, Panama City, FL 32405 3009 Highway 77, Panama City, FL 32405 3009 Highway 77, Panama City, FL 32405 3009 Highway 77, Panama City, FL 32405 3009 Highway 77, Panama City, FL 32405 3009 Highway 77, Panama City, FL 32405 3009 Highway 77, Panama City, FL 32405 3009 Highway 77, Panama City, FL 32405 3009 Highway 77, Panama City, FL 32405 3009 Highway 77, Panama City, FL 32405 3009 Highway 77, Panama City, FL 32405 3009 Highway 77, Panama City, FL 32405 3009 Highway 77, Panama City, FL 32405 3009 Highway 77, Panama City, FL 32405 3009 Highway 77, Panama City, FL 32405 3009 Highway 77, Panama City, FL 32405

Property Description
Baldwin Place is a prime office strip center, centrally located in Panama City. The Center maintains high occupancy rates and long-term tenants. 100% Occupied. Long-term tenants. $446,109 Net Operating Income. 9.5% Cap Rate! Located at the northwest corner of Highway 77 and Baldwin Road (Adjacent to Centennial Bank). Signalized intersection at Baldwin Road and Highway 77 along with an additional median-cut and deceleration lane on Highway 77. Detailed Financials, Rent Roll and Tenant data available upon request and receipt of a confidentiality agreement. Priced to sell quickly.

Details
Maps
Contract Info
List Date: 2020-07-01
List Price: $4,700,000
List Price/SqFt: 159.71
Current Price: $4,700,000
Sub-Type: Income Producing
Location
Area: 02 - Bay County - Central
Street #: 3009
Street Name: Highway 77
State: FL
Zip Code: 32405
County: Bay
Sub Area: 0204 - Bay - Central NW
Business Name: BALDWIN PLACE
Subdivision: No Named Subdivision
Community/Resort: None
Waterfront: No
Parcel ID: 12859-010-000
Section: 28
Township: 3S
Range: 14w
Elementary School: Hiland Park
Middle School: Mowat
High School: Mosley
Directions: Baldwin Place is located at the northwest corner of Highway 77 and Baldwin Road. Between Centennial Bank and CarQuest Autoparts. Haney Vocational School is located across the street on the east-side of Highway 77.
Legal Description: 28 3S 14W -3.1- 104B ST AND BAY DEV CO PLAT BEG AT INTERSECT OF N LINE OF LOT 5 & W R/W OF SR# 77 S 459.77' W 302.49' N 459.77' E 302.04' TO POB ORB 2409 P 1639
General Property Info
List Class: Commercial
Immediate Occupancy: No
Possession Date: Not applicable
Construction Status: Construction Complete
# of Stories in Building: 1
Site Dimensions: 302 x 460
Acreage: 3.2
Frontage Ft: 302
Lot Depth: 460
Lot SqFt: 138920
SqFt HVAC: 26994
SqFt Retail: 26994
SqFt - Workarea: 26994
SqFt - Office: 26994
SqFt Tot Bldg: 29428
Year Built: 2006
Listing Info, Tax and Legal
HOA Fee: No
Status Change Info
Status: Sold
Under Contract Date: 2020-09-15
Sold Date: 2020-12-18
Sold Price: 4700000
Sold Price/SqFt: 159.71
Sold Price/Acre: 1468750
Income Producing
Year Built: 2006
Net Operating Income: 435650
Cap Rate: 9.5
Property Type: Office
Property Features
Construction/Siding: Clear Span; Concrete; Floor - Concrete; Floor - Tile; Floor - Vinyl; Floor - W/W Carpet; Foundation - Slab on Grade; Roof - Metal; Roof - Sloping; Siding - Metal; Siding - Stucco; Steel/Frame
Energy: AC - 2 or More; AC - Central Elect; AC - High Efficiency; Heat - High Efficiency; Water Heater - Electric
Floors in Unit/Home: One
Financing: Cash; Conventional
Heating/Cooling: AC - Central; AC - Entire; AC - HVAC; Heat - Central Electric; Heat - HVAC
Offering Type: Real Estate; Sale with Lease
Present Zoning: Commercial
Sale Type: As Is
Site Description: Aerials Available; Easement(s)
Transport. Access: City Road; Divided Highway; Median Cut; Paved
Utilities: All Utilities; Electric 220/240; Public Sewer; Public Water

Listing Office: Counts Real Estate Group Inc

Last Updated: February - 06 - 2021

Information deemed reliable but not guaranteed.

Saturday 27th of February 2021 09:02 AM