100 Aberdeen Loop, Panama City, FL 32405 (MLS# 692812)

100 Aberdeen Loop, Panama City, FL 32405

$1,700,000

Property Type: Commercial for Sale Square Footage: 21,250 Lot Size (sq. ft.): 94,090 Status: Sold

Current Price: $1,700,000 List Date: 2/19/2020 Last Modified: 10/04/2024

Overview

Description

Investment opportunity with 2020 Net Operating Income of $145,128 = 8% cap rate! Currently leased to Jensen USA who recently signed a 3-year lease renewal. 21,250 sq. ft. building with 2.16 acres in Lynn Haven Commerce Park. The building includes warehouse, office, and showroom space. The showroom and office space measures +/-3,200 sq. ft. with large showroom, 3 offices, break room, ADA restrooms and large training area. The ceiling height is 20 ft. clear at the eaves and 23 ft. at the center-line. Two dock-height doors approx. 8′ x 9′ each and one 14′ x 14′ street-level door. Building is concrete block and steel frame. Minor damage from Hurricane Michael that has been repaired. The seller has replaced the steel awning over the dock-height loading well. The 5 light poles & LED lights 2/2

Listing Details MLS# 692812

Contract Info

List Price/SqFt: 85.88
Sub-Type: Income Producing

Location

Area: 02 – Bay County – Central
Street #: 100
Street Name: Aberdeen
Street Suffix: Loop
State: FL
Zip Code: 32405
County: Bay
Sub Area: 0201 – Bay – Central NE
Subdivision: Lynn Haven Business Park
Community/Resort: None
Waterfront: No
Parcel ID: 11515-014-000
Section: 14
Township: 3S
Range: 14W
Elementary School: Deer Point
Middle School: Mowat
High School: Mosley
Directions: Highway 389 north toward Lynn Haven. Right on Aberdeen Parkway. Property located at the southwest corner of Aberdeen Parkway and Aberdeen Loop in the Lynn Haven Commerce Park adjacent to Trane. Alternate access to the Commerce Park off Highway 390, east of Highway 389 and west of U.S. Highway 231, via Carla Lane.
Legal Description: 14 3S 14W -1.1D- 116B ST AND BAY DEV CO COM AT SW COR LOT 39 E 120' FOR POB TH CONT E 387' N 245' W 338.83' SWLY 70.10 S 195.79' TO POB BEING PART OF LOT 39 SUBJ TO ESMT IN ORB2630 P571 ORB 1742 P 1713 ORB 2292 P 1952 ORB 2520 P 795

General Property Info

List Class: Industrial
Immediate Occupancy: No
Construction Status: Construction Complete
# of Units: Yes
SqFt Unit: 21250
# of Stories in Building: Yes
Site Dimensions: 2.16 Acres
Acreage: 2.16
SqFt HVAC: 3200
SqFt – Office: 3200
SqFt – Warehouse: 18050
SqFt Tot Bldg: 21250
Year Built: 2005
Ceiling Height: 20

Status Change Info

Under Contract Date: 2020-06-02
Sold Date: 2020-06-30
Sold Price/SqFt: 80
Sold Price/Acre: 787037.04

Income Producing

Year Built: 2005
Building SqFt: 21250
Price P/SqFt: 85.88
Net Operating Income: 145128
Cap Rate: 8.08

Industrial

# Ground Level Doors: Yes
Building SqFt: 21250
# Dock High Doors: 2
Sprinklers?: Yes
Rail?: No
Office SqFt: 3200
Year Built: 2005
Cap Rate: 8.08

More Information

Listing Info, Tax and Legal

HOA Fee: No

Remarks & Misc

Remarks: Investment opportunity with 2020 Net Operating Income of $145,128 = 8% cap rate! Currently leased to Jensen USA who recently signed a 3-year lease renewal. 21,250 sq. ft. building with 2.16 acres in Lynn Haven Commerce Park. The building includes warehouse, office, and showroom space. The showroom and office space measures +/-3,200 sq. ft. with large showroom, 3 offices, break room, ADA restrooms and large training area. The ceiling height is 20 ft. clear at the eaves and 23 ft. at the center-line. Two dock-height doors approx. 8' x 9' each and one 14' x 14' street-level door. Building is concrete block and steel frame. Minor damage from Hurricane Michael that has been repaired. The seller has replaced the steel awning over the dock-height loading well. The 5 light poles & LED lights 2/2

Construction/Siding

Block: Yes
Clear Span: Yes
Clearance Height 18+ Ft: Yes
Floor – Concrete: Yes
Foundation – Slab on Grade: Yes
Roof – Metal: Yes
Roof – Sloping: Yes
Siding – Metal: Yes

Energy

AC – 2 or More: Yes

Financing

Cash: Yes
Conventional: Yes

Present Zoning

City: Yes
Industrial Light: Yes

Utilities

All Utilities: Yes
TV Cable: Yes
Electricity – Connected: Yes
Electric 220/240: Yes
Electric-3 Phase: Yes
Garbage: Yes
Natural Gas – Available: Yes
Phone – Connected: Yes
Public Sewer – Connected: Yes
Water Connected: Yes
Underground Utilities: Yes

Accessibility Features

Accessible Approach with Ramp: Yes
Accessible Doors: Yes
Accessible Entrance: Yes
Accessible Hallway(s): Yes

Sale Type

As Is: Yes

Business/Property

Freestanding Building: Yes
Furnished – None: Yes
Handicapped Access: Yes
Handicapped Facilities: Yes
Kitchen Area: Yes
Office Area: Yes
Restrooms – Private: Yes
Restrooms – Public: Yes
Sign: Yes

Floors in Unit/Home

One: Yes

Heating/Cooling

AC – Central: Yes
AC – Office: Yes
AC – Partial: Yes
Exhaust Fan: Yes
Other – See Remarks: Yes

Offering Type

Real Estate: Yes
Sale or Lease: Yes
Sale with Lease: Yes
Other – See Remarks: Yes

Pricing Type

Sale Price: Yes

Transport. Access

2-Lane: Yes
City Road: Yes
Paved: Yes

Property Features

Accessibility Features: Accessible Approach with Ramp; Accessible Doors; Accessible Entrance; Accessible Hallway(s) Energy: AC – 2 or More Financing: Cash; Conventional Offering Type: Real Estate; Sale or Lease; Sale with Lease; Other – See Remarks Pricing Type: Sale Price Present Zoning: Industrial Light Sale Type: As Is Site Description: Aerials Available; Cleared; Corner Location; Covenant; Deed Restriction; Landscaped; Level; Survey Utilities: All Utilities; Electricity – Connected; Electric 220/240; Electric-3 Phase; Garbage; Natural Gas – Available; Phone – Connected; Public Sewer – Connected; Water Connected; TV Cable; Underground Utilities

Listing Office: Counts Real Estate Group Inc

Last Updated: October – 04 – 2024

Information deemed reliable but not guaranteed.