$3,700,000
Panama City Beach, FL 32407
MLS# 413213
Status: Sold
26852 sqft
1 / 15
Property Description
Major Price Reduction! We are pleased to present for sale the Grand Panama Office Building, comprised of 37,621 sq. ft. of class A office condominium space within the Grand Panama Beach Resort. Completed in June 2007, the property is anchored on the first floor by Royal Bank of Canada (who owns the first floor). Currently operating under a condominium association, this offering includes the 2nd, 3rd and 4th floors of the building consisting of approximately 26,852 square feet of fully leased space. The Grand Panama Office Building is centrally located in Panama City Beach and offers easy access to all major arteries. This is a trophy building with views of the Gulf of Mexico from most of the office suites. The tenants include; Northrop Grumman, POSabilites, Eagle SWS, BevCheck, and
Details
Maps
Contract Info
List Date: 2011-01-05
List Price: $3,925,000
List Price/SqFt: 146.17
Current Price: $3,700,000
Sub-Type: Other
Location
Area: 03 - Bay County - Beach
Street #: 600
Street Name: Grand Panama
Street Suffix: Boulevard
Unit #: FLRS 2-4
State: FL
Zip Code: 32407
County: Bay
Sub Area: 0320 - Beach - Middle Central
Subdivision: Grand Panama Beach Resort
Community/Resort: None
Parcel ID: 40000-725-012
Section: 35
Township: 3S
Range: 16W
Directions: The Grand Panama Office Building is located on Hutchison Blvd. (a/k/a Middle Beach Road) at the main entrance to the Grand Panama Beach Resort, adjacent to BoneFish Grill at the Village of Grand Panama between Alf Coleman Road and Richard Jackson Blvd.
Legal Description: GRAND PANAMA BEACH RESORT OFFICE CONDOMINUIUM MAP 47C2 ORB 2942 P 234 UNITS; 201, 202, 203, 301, 302, 303, 401, 402 AND 403. 26,852 TOTAL RENTABLE SQ FT The legal description shown here may be condensed for assessment purposes. Exact description may be obtained from the recorded deeds.
General Property Info
Immediate Occupancy: No
Construction Status: Construction Complete
SqFt HVAC: 26852
SqFt - Office: 26852
SqFt Tot Bldg: 26852
Year Built: 2007
Ceiling Height: 10
Status Change Info
Status: Sold
Under Contract Date: 2011-10-04
Sold Date: 2012-02-01
Sold Price: $3,700,000
Sold Price/SqFt: 137.79
Property Features
Energy: AC - 2 or More; AC - Central Elect; AC - High Efficiency
Financing: Cash; Conventional
Present Zoning: Commercial
Sale Type: As Is
Site Description: Aerials Available; Deed Restriction
Waterview: Gulf
Supplements
Tipton Marler. Net Operating Income = $385,511. Cap Rate = 9.5%. Occupancy = 100%. Offering: Floors 2, 3 & 4 (out of 4). Please call for detailed Offering Memorandum and to setup a tour.
Listing Office: Counts Real Estate Group Inc
Last Updated: October - 03 - 2024
Information deemed reliable but not guaranteed.