$2,058,000
Panama City, FL 32405
MLS# 665155
Status: Sold
17302 sqft
1 / 4
Property Description
23rd Street Plaza is a shadow strip center within the Home Depot Power Center on 23rd Street. The 17,302 square foot building is 100% occupied. The current Net Operating Income is $202,590, which equates to a 9.0% Cap Rate at the $2.25M sale price. Easy access via the signalized intersection of 23rd Street and Wilson Avenue, which is the main entrance to the Center. Additional ingress and egress to Harrison Avenue and via easements to Highway 77. Detailed financials and lease terms available upon request and execution of a confidentiality agreement.
Details
Maps
Contract Info
List Date: 2017-11-06
List Price: $2,250,000
List Price/SqFt: 130.04
Current Price: $2,058,000
Sub-Type: Income Producing
Location
Area: 02 - Bay County - Central
Street #: 401
Street Direction: E
Street Name: 23RD
Street Suffix: Street
Unit #: A-J
State: FL
Zip Code: 32405
County: Bay
Sub Area: 0204 - Bay - Central NW
Business Name: 23rd Street Plaza
Subdivision: No Named Subdivision
Community/Resort: None
Waterfront: No
Parcel ID: 12976-070-000
Section: 28
Township: 3S
Range: 14W
Elementary School: Hiland Park
Middle School: Jinks
High School: Bay
Directions: 23rd Street Plaza is within the Home Depot Power Center on 23rd Street. The Plaza is the building on the west-side of Home Depot.
Legal Description: 28 3S 14W -107.48- 104B ST AND BAY DEV CO PLAT COM AT SW COR OF SEC N 660.11' E 50' TO E R/W HARRISON AV CONT E 602.79' FOR POB N 216.41' E 281' S 316.72' W 3.67' S 230.10' TO S LINE LOT 119 W 272.42' N 329.69' W 11.51' TO POB ORB 3640 P 1791
General Property Info
List Class: Commercial
Immediate Occupancy: No
Construction Status: Construction Complete
# of Units: 10
Acreage: 3.42
Lot Depth: 547
SqFt HVAC: 17302
SqFt Retail: 17302
SqFt Tot Bldg: 17302
Year Built: 2005
Status Change Info
Status: Sold
Under Contract Date: 2018-03-01
Sold Date: 2018-03-15
Sold Price: $2,058,000
Sold Price/SqFt: 118.95
Sold Price/Acre: 601754.39
Income Producing
Year Built: 2005
Building SqFt: 17302
Net Operating Income: 202590
Cap Rate: 9
Property Type: Retail
Property Features
Energy: AC - 2 or More
Financing: Cash; Construction Perm
Offering Type: Sale Only
Pricing Type: Sale Price
Present Zoning: Commercial
Utilities: All Utilities; Natural Gas - Available; Pest Control; Phone - Connected; Public Sewer - Connected; Water Connected; TV Cable
Listing Office: Counts Real Estate Group Inc
Last Updated: October - 04 - 2024
Information deemed reliable but not guaranteed.