116 N Highway 22 A, Panama City, FL 32404 (MLS# 753443)

116 N Highway 22 A, Panama City, FL 32404

$870,000

Property Type: Commercial for Sale Square Footage: 6,088 Lot Size (sq. ft.): 50,094 Status: Sold

Current Price: $870,000 List Date: 2/28/2024 Last Modified: 10/04/2024

Overview

Description

Excellent income producing multifamily property in the growing Panama City, FL market. Located near Tyndall Air Force Base the property consists of 12 units. All units are 1/1s with average rents of $800-950/month. Each unit is separately metered for water and electric. Landlord responsibilities are limited to lawncare and trash. Most buildings are concrete block helping with insurance premium cost(s).

Listing Details MLS# 753443

Contract Info

List Price/SqFt: 163.44
Sub-Type: Multi-Family

Location

Area: 02 – Bay County – Central
Street #: 116
Street Direction: N
Street Name: Highway 22 A
State: FL
Zip Code: 32404
County: Bay
Sub Area: 0202 – Bay – Central SE
Subdivision: No Named Subdivision
Community/Resort: None
Waterfront: No
Parcel ID: 24546-010-000
Elementary School: Parker
Middle School: Everitt
High School: Rutherford
Directions: Traveling east on Cherry Street, turn left on Highway 22A, property is on the right.
Legal Description: 12 4S 14W -213A- 118D4 ST AND BAY DEV CO PLAT COM AT SW COR OF SE 1/4 OF SEC TH N 133.62' E 39.39' FOR POB TH E 210.13' N 195.82' W 210.05' S 195.82' TO POB ORB 4389 P 1487

General Property Info

List Class: Apartment
Construction Status: Construction Complete
# of Units: 12
Acreage: 1.15
SqFt Tot Bldg: 6088
Year Built: 1969

Status Change Info

Under Contract Date: 2024-03-30
Sold Date: 2024-04-11
Sold Price/SqFt: 142.9
Sold Price/Acre: 756521.74

Multi-Family

Cap Rate: 8.3

Listing Info, Tax and Legal

HOA Fee: No

More Information

Remarks & Misc

Remarks: Excellent income producing multifamily property in the growing Panama City, FL market. Located near Tyndall Air Force Base the property consists of 12 units. All units are 1/1s with average rents of $800-950/month. Each unit is separately metered for water and electric. Landlord responsibilities are limited to lawncare and trash. Most buildings are concrete block helping with insurance premium cost(s).

Financing

Cash: Yes
Conventional: Yes

Utilities

All Utilities: Yes
Electricity – Connected: Yes
Public Sewer – Connected: Yes
Water Connected: Yes

Floors in Unit/Home

One: Yes

Property Features

Financing: Cash; Conventional Utilities: All Utilities; Electricity – Connected; Public Sewer – Connected; Water Connected

Listing Office: CENTURY 21 Commander Realty

Last Updated: October – 04 – 2024

Information deemed reliable but not guaranteed.