$3,800,000
912-948 THOMAS Drive
Panama City Beach, FL 32408
MLS# 666936
17960 sqft


912-948 THOMAS Drive, Panama City Beach, FL 32408
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Property Description
The Coastal Palms Village Strip Center is a Class A, Retail/Office, 16,219 square feet building with tremendous upside. The strip center is constructed of concrete poured block and steel beam supported ceilings. The roof is tile and one piece member of rubber. It is equipped with a complete fire sprinkler system and is monitored on a 24/7 basis. The complex also has ample parking and excellent signage on Thomas Drive. The strip center consists of 10 units with various square footage. Currently 90% of space is occupied. Tenants include Dunkin Donuts, Rupert Cleaners, 4M Engineering, Nephrology Associates, Fatty's Sandwich Shop, Fatty Patty's Restaurant and Bakery, and Rose Nails. One space is Vacant and is Available.

Details
Maps
Contract Info
List Date: 2018-01-17
List Price: $3,800,000
List Price/SqFt: 211.58
Current Price: $3,800,000
Sub-Type: Income Producing
Location
Area: 03 - Bay County - Beach
Street #: 912-948
Street Name: THOMAS
Street Suffix: Drive
State: FL
Zip Code: 32408
County: Bay
Sub Area: 0319 - Beach - East
Subdivision: Coastal Palms Commercial
Community/Resort: None
Waterfront: No
Parcel ID: 30159-400-106
Elementary School: Patronis
Middle School: Surfside
High School: Arnold
Directions: FROM HATHAWAY BRIDGE, SOUTH ON THOMAS DRIVE, PROPERTY LOCATED ACROSS FROM NAVAL COASTAL SYSTEMS CENTER ENTRY GATE.
Legal Description: COASTAL PALMS COMMERCIAL LOTS 1, 2, and 3 according to the plat recorded in Plat Book 23, Page 56, of the public records of Bay County, Florida
General Property Info
List Class: Other
Construction Status: Construction Complete
Acreage: 1
SqFt Tot Bldg: 17960
Year Built: 2008
Listing Info, Tax and Legal
HOA Fee: No
Status Change Info
Status: Active
Other
Year Built: 2008
Unit SqFt: 16219
Building SqFt: 17960
Property Features
Floors in Unit/Home: One
Financing: Owner
Offering Type: Sale with Lease
Pricing Type: Sale Price
Present Zoning: General Commercial
Transport. Access: 4-Lane
Supplements
Vacant vanilla space is complete with plumbing stub out, HVAC in place, and electric run to the space. Dunkin Donut unit is equipped with a Drive Up Window. Coastal Palms Village is located on Thomas Drive directly across from the Naval Support System. Thomas Drive is the main tourist artery that serves the beaches. Other retail in the area include Burger King, Egg & I, Legacy Cabinets, as well as LaQuinta Hotel. All leases are Triple Net Leases. TREMENDOUS UPSIDE!! SELLER IS OFFERING FINANCING WITH 30% DOWN, PAYMENTS BASED ON A 30 YEAR TERM WITH A 10 YEAR CALL. INTEREST RATE AT 6.5%. ADDITIONAL PROPERTY AVAILABLE SEE MLS 666940 AND 666930

Listing Office: Varnes Realty

Last Updated: February - 06 - 2021

Information deemed reliable but not guaranteed.

Saturday 8th of May 2021 12:48 PM