1000 Transmitter Road, Panama City, FL 32401
$1,250,000
Property Type:
Commercial for Sale
Square Footage:
8,310
Lot Size (sq. ft.):
15,682
Status:
Sold
Current Price:
$1,250,000
List Date:
7/13/2024
Last Modified:
1/27/2025
Listing Details MLS# 759895
Contract Info
- List Price/SqFt
- 167.27
- Sub-Type
- Multi-Family
Location
- Area
- 02 – Bay County – Central
- Street #
- 1000
- Street Name
- Transmitter
- Street Suffix
- Road
- State
- FL
- Zip Code
- 32401
- County
- Bay
- Sub Area
- 0202 – Bay – Central SE
- Subdivision
- No Named Subdivision
- Community/Resort
- None
- Waterfront
- No
- Parcel ID
- 15029-085-000
- Elementary School
- Parker
- Middle School
- Everitt
- High School
- Rutherford
- Directions
- Just east of the intersection of Transmitter and 11th St.
- Legal Description
- 1 4S 14W -104.56A- COM INTER OF S R/W LI 11TH ST & E R/W LI TRANSMITTER RD TH S 100' FOR POB TH CONT S 106.67' E 83.85' N 106.30' W 83.85' TO POB TOG/W EAS INGRESS/EGRESS ORB 4106 P 1784
General Property Info
- List Class
- Apartment
- Construction Status
- Construction Complete
- Acreage
- 0.36
- SqFt Tot Bldg
- 8310
- Year Built
- 1986
Status Change Info
- Under Contract Date
- 2024-08-22
- Sold Date
- 2024-10-16
- Sold Price/SqFt
- 150.42
- Sold Price/Acre
- 3472222.22
Multi-Family
- Year Built
- 1987
- Building SqFt
- 8360
- # of Units
- 10
- Price P/SqFt
- 167.27
- Expenses/Unit
- 46800
- Price P/Unit
- 166.27
- Actual Gross Income
- 156000
- Expenses
- 46800
- Net Operating Income
- 109200
- Cap Rate
- 7.86
- Vacancy Rate
- 0
Listing Info, Tax and Legal
- HOA Fee
- No
More Information
Remarks & Misc
- Remarks
- Situated at 1000 Transmitter Rd, this property unveils a compelling investment opportunity featuring ten extensively renovated two-bedroom, one-bathroom units, each approved for Section 8 rentals at an attractive rate of $1300 per unit. Boasting contemporary amenities, including full-sized kitchens, washer and dryer hookups, separate metering, a 2019-permitted roof, 2020 water heaters, 2020 HVAC (excluding condensers), a new deck, updated sewer lines, wiring, and a refurbished parking lot with ample tenant parking, these 830 sqft units epitomize modern living. Nestled in the heart of Bay County, Florida, the city of Panama City has experienced a remarkable population surge, reaching 36,775 residents in 2023—a 12.27% increase since the 2020 census. With an annual growth rate of 3.93%, Panama City stands as a testament to economic resilience, offering compelling prospects for both residents and businesses. The city's average household income of $70,585 fosters financial well-being in the community. Additionally, the recent boost in military construction funding for Tyndall Air Force Base, reaching an impressive $3.4 billion, not only marks a pivotal moment in the base's recovery from Hurricane Michael but is expected to drive job growth and housing demand in the surrounding area, painting a promising economic landscape. As Tyndall AFB transforms into an ''installation of the future,'' this property at 1000 Transmitter Rd becomes not just a home but a strategic investment within a thriving community poised for economic revitalization. Parcels include 15029-085-000, 15029-085-001, & 15029-085-002
Energy
- AC – Central Elect
- Yes
- Heat – Central Electric
- Yes
- Water Heater – Electric
- Yes
Financing
- Cash
- Yes
- Conventional
- Yes
Project Facilities
- Pets Allowed
- Yes
Accessibility Features
- Common Area
- Yes
Sale Type
- As Is
- Yes
Business/Property
- Furnished – None
- Yes
Floors in Unit/Home
- Two
- Yes
Heating/Cooling
- AC – Central
- Yes
- AC – Entire
- Yes
Property Features
Accessibility Features:
Common Area
Energy:
AC – Central Elect; Heat – Central Electric; Water Heater – Electric
Financing:
Cash; Conventional
Project Facilities:
Pets Allowed
Sale Type:
As Is
Listing Office:
EXP Realty LLC
Last Updated: January – 27 – 2025
Information deemed reliable but not guaranteed.