$800,000
Panama City Beach, FL 32408
MLS# 700876
Status: Sold
9000 sqft
1 / 46
Property Description
Attention Investors 8% CAP rate with long term NNN leases in place (8 yrs remaining with 2% annual increases) approx $69,000 NOI. This multi-story 6,000 sq ft building has over 10,000 sq ft of built-out live/work leasable space with plenty of parking. Currently leased to two well established local businesses. This investment property is located in the Holley St Commercial Park.
Details
Maps
Contract Info
List Price/SqFt: 97.22
List Date: 2020-08-12
List Price: $875,000
Current Price: $800,000
Sub-Type: Income Producing
Location
Sub Area: 0319 - Beach - East
Community/Resort: None
Waterfront: No
Elementary School: Breakfast Point
Middle School: Breakfast Point
High School: Arnold
Directions: FROM HWY 98 GO SOUTH ON THOMAS DR. .5 MILES TURN RIGHT ON MCELVEY RD. FOLLOW ROAD AROUND TO # 7702 on right
Area: 03 - Bay County - Beach
Street #: 7702
Street Name: Mcelvey
Street Suffix: Road
State: FL
Zip Code: 32408
County: Bay
Subdivision: Holly Street Commercial Park
Parcel ID: 27883-713-000
Legal Description: HOLLEY ST COMMERCIAL PARK 57D LOT 13 SUBJ TO ESMTS ORB 4020 P 2278
General Property Info
List Class: Commercial
Acreage: 0.5
Construction Status: Construction Complete
SqFt Tot Bldg: 9000
Year Built: 2004
Listing Info, Tax and Legal
HOA Fee: No
Remarks & Misc
Remarks: Attention Investors 8% CAP rate with long term NNN leases in place (8 yrs remaining with 2% annual increases) approx $69,000 NOI. This multi-story 6,000 sq ft building has over 10,000 sq ft of built-out live/work leasable space with plenty of parking. Currently leased to two well established local businesses.
This investment property is located in the Holley St Commercial Park.
Status Change Info
Sold Price/SqFt: 88.89
Sold Price/Acre: 1600000
Status: Sold
Under Contract Date: 2020-08-27
Sold Date: 2020-10-09
Sold Price: $800,000
Construction/Siding
Floor - Concrete: 1
Foundation - Slab on Grade: 1
Steel/Frame: 1
Roof - Gutters: 1
Roof - Metal: 1
Siding - Alum Metal: 1
Siding - Metal: 1
Energy
AC - 2 or More: 1
AC - Central Elect: 1
Ceiling Fans: 1
Roof Vent: 1
Skylight(s): 1
Water Heater - Electric: 1
Financing
Cash: 1
Conventional: 1
Present Zoning
Industrial Light: 1
Utilities
All Utilities: 1
Community Sewer: 1
Community Water: 1
Electricity - Connected: 1
Electricity - Availabile: 1
Public Sewer - Connected: 1
Water Connected: 1
Business/Property
Freestanding Building: 1
Handicapped Access: 1
Kitchen Area: 1
Living Quarters: 1
Office Area: 1
Restrooms - Private: 1
Restrooms - Public: 1
Floors in Unit/Home
Two: 1
Heating/Cooling
AC - Central: 1
AC - HVAC: 1
AC - Office: 1
AC - Warehouse: 1
Income Producing
Year Built: 2004
Net Operating Income: 69000
Cap Rate: 8
Property Type: Industrial
Offering Type
Sale Only: 1
Site Description
Aerials Available: 1
Covenant: 1
Easement(s): 1
Landscaped: 1
Level: 1
Survey: 1
Transport. Access
2-Lane: 1
County Road: 1
Paved: 1
Property Features
Energy: AC - 2 or More; AC - Central Elect; Ceiling Fans; Roof Vent; Skylight(s); Water Heater - Electric
Financing: Cash; Conventional
Offering Type: Sale Only
Present Zoning: Industrial Light
Site Description: Aerials Available; Covenant; Easement(s); Landscaped; Level; Survey
Utilities: All Utilities; Community Sewer; Community Water; Electricity - Connected; Electricity - Availabile; Public Sewer - Connected; Water Connected
Listing Office: Counts Real Estate Group Inc
Last Updated: October - 04 - 2024
Information deemed reliable but not guaranteed.