1717 Frankford Avenue, Panama City, FL 32405
$1,880,000
Property Type:
Commercial for Sale
Square Footage:
23,129
Lot Size (sq. ft.):
83,200
Status:
Sold
Current Price:
$1,880,000
List Date:
2/28/2025
Last Modified:
2/28/2025
Overview
Description
Listing Details MLS# 769522
Contract Info
- List Price/SqFt
- 84.31
- Sub-Type
- Income Producing
Location
- Area
- 02 – Bay County – Central
- Street #
- 1717
- Street Name
- Frankford
- Street Suffix
- Avenue
- State
- FL
- Zip Code
- 32405
- County
- Bay
- Sub Area
- 0203 – Bay – Central SW
- Business Name
- Frankford Storage
- Subdivision
- [No Recorded Subdiv]
- Community/Resort
- None
- Waterfront
- No
- Parcel ID
- 29385-000-000
- Elementary School
- Lucille Moore
- Middle School
- Jinks
- High School
- Bay
- Directions
- Comp purposes only.
- Legal Description
- Comp purposes only.
General Property Info
- List Class
- Other
- Construction Status
- Construction Complete
- # of Units
- 223
- Acreage
- 1.91
- Frontage Ft
- 594
- SqFt Tot Bldg
- 23129
- Year Built
- 1978
Status Change Info
- Under Contract Date
- 2024-10-01
- Sold Date
- 2024-11-01
- Sold Price/SqFt
- 81.28
- Sold Price/Acre
- 984293.19
Business Only
- Year Built
- 1978
- Cap Rate
- 6.7
- Net Operating Income
- 135120
Income Producing
- Year Built
- 1978
- Net Operating Income
- 135120
- Cap Rate
- 6.7
More Information
Listing Info, Tax and Legal
- HOA Fee
- No
Remarks & Misc
- Remarks
- Presenting a freshly renovated 223± unit self-storage complex, enhanced with 50 new units. Boasting an on-site office, digital signage, and electric access control gates with SiteLink synchronization available, this investment appeals to both corporate investors and owner-operators. While occupancy is currently north of 72% and trending upwards post-expansion it has yet to stabilize, providing potential for cap rates north of 10.0% once reaching market vacancies. Ideally situated between the area's major east/west commercial arteries, 15th Street and 23rd Street, this facility is nestled in the heart of Panama City's housing landscape. Reach out today for additional information.
Construction/Siding
- Floor – Concrete
- Yes
Other Structures
- Storage
- Yes
Financing
- Cash
- Yes
- Seller Financing
- Yes
Present Zoning
- Commercial
- Yes
Utilities
- All Maintenance
- Yes
Business/Property
- Office Area
- Yes
- Restrooms – Private
- Yes
- Sign
- Yes
Floors in Unit/Home
- One
- Yes
Pricing Type
- Sale Price
- Yes
Transport. Access
- 2-Lane
- Yes
Property Features
Financing:
Cash; Seller Financing
Other Structures:
Storage
Pricing Type:
Sale Price
Present Zoning:
Commercial
Utilities:
All Maintenance
Listing Office:
Clubbs Real Estate Group LLC
Last Updated: February – 28 – 2025
Information deemed reliable but not guaranteed.