$1,900,000
Panama City, FL 32408
MLS# 419273
Status: Sold
1 / 2
Property Description
BANK OWNED! Very valuable property with great income potential! The motel rooms range from efficiency, standard w/kitchen, 1 bed suite. 2 Bed suites with the possibility to create 3 bedrooms. Includes office and manager's apartment over office. A Beach Cottage and a remodeled two-story Duplex with a Gulf view sits on the back of the parcel and faces public beach access #10 - potential for more income. There is a nice pool area behind the motel. Four parcels are included in this site: 32320-000-000, 32319-000-000, 32318-000-000, 32326-000-000. The addresses are 5607 Thomas Dr., 5601 Thomas Dr., 5530 Thomas Dr. & 5606 Gulf Dr. Please verify all info. before purchases.
Details
Maps
Location
Sub Area: 0323 - Beach - South of Grand Lagoon
Community/Resort: None
Directions: Heading west on Thomas Drive, Panama Palms Motel will be on the left before Biltmore Dr. on the South (gulf side) of Thomas Drive.
Area: 03 - Bay County - Beach
Street #: 5607
Street Name: Thomas
Street Suffix: Drive
State: FL
Zip Code: 32408
County: Bay
Subdivision: Gulf Lagoon Beach
Parcel ID: 32320-000-000
Legal Description: GULF LAGOON BEACH LOTS 7, 8, 17 & 18 BLK 10 ORB 1873 P 952 ORB 2508 P 1718
General Property Info
Acreage: 1.58
Construction Status: Construction Complete
# of Units: 50
SqFt HVAC: 8884
Year Built: 1961
Listing Info, Tax and Legal
HOA Fee: No
Remarks & Misc
Remarks: BANK OWNED! Very valuable property with great income potential! The motel rooms range from efficiency, standard w/kitchen, 1 bed suite. 2 Bed suites with the possibility to create 3 bedrooms. Includes office and manager's apartment over office. A Beach Cottage and a remodeled two-story Duplex with a Gulf view sits on the back of the parcel and faces public beach access #10 - potential for more income. There is a nice pool area behind the motel. Four parcels are included in this site: 32320-000-000, 32319-000-000, 32318-000-000, 32326-000-000. The addresses are 5607 Thomas Dr., 5601 Thomas Dr., 5530 Thomas Dr. & 5606 Gulf Dr. Please verify all info. before purchases.
Status Change Info
Sold Price/Acre: 1202531.65
Status: Sold
Under Contract Date: 2012-04-24
Sold Date: 2012-04-27
Sold Price: $1,900,000
Energy
AC - Central Elect: 1
Financing
Cash: 1
Conventional: 1
Present Zoning
Commercial: 1
Utilities
Electricity - Connected: 1
Electric 220/240: 1
Public Sewer - Connected: 1
Water Connected: 1
Sale Type
In Foreclosure: 1
Floors in Unit/Home
Two: 1
Transport. Access
2-Lane: 1
Contract Info
List Date: 2011-08-08
List Price: $1,450,000
Current Price: $1,900,000
Sub-Type: Other
Property Features
Energy: AC - Central Elect
Financing: Cash; Conventional
Present Zoning: Commercial
Sale Type: In Foreclosure
Utilities: Electricity - Connected; Electric 220/240; Public Sewer - Connected; Water Connected
Listing Office: Nations Real Estate, Inc
Last Updated: October - 03 - 2024
Information deemed reliable but not guaranteed.