2704 THOMAS Drive, Panama City Beach, FL 32408
$1,130,000
Property Type:
Commercial for Sale
Square Footage:
2,700
Lot Size (sq. ft.):
31,799
Status:
Sold
Current Price:
$1,130,000
List Date:
6/21/2018
Last Modified:
10/04/2024
Overview
Description
Listing Details MLS# 673171
Contract Info
- List Price/SqFt
- 462.96
- Sub-Type
- Income Producing
Location
- Area
- 03 – Bay County – Beach
- Street #
- 2704
- Street Name
- THOMAS
- Street Suffix
- Drive
- State
- FL
- Zip Code
- 32408
- County
- Bay
- Sub Area
- 0319 – Beach – East
- Subdivision
- [No Recorded Subdiv]
- Community/Resort
- None
- Waterfront
- No
- Parcel ID
- 31070-010-000
- Elementary School
- Patronis
- Middle School
- Surfside
- High School
- Arnold
- Directions
- Go south on Thomas Drive and past Magnolia Beach Drive. Property will be on the West side of Thomas Drive just past Orange Plaza Street.
- Legal Description
- TREASURE COVE LOT 1 BLK 13 ORB 351 P 262 ORB 3834 P 356
General Property Info
- List Class
- Commercial
- Immediate Occupancy
- No
- Construction Status
- Construction Complete
- # of Units
- Yes
- Acreage
- 0.73
- SqFt HVAC
- 2700
- SqFt – Office
- 2700
- SqFt Tot Bldg
- 2700
- Year Built
- 2017
Status Change Info
- Under Contract Date
- 2018-06-25
- Sold Date
- 2018-08-10
- Sold Price/SqFt
- 418.52
- Sold Price/Acre
- 1547945.21
Business Only
- Year Built
- 2017
- Building SqFt
- 2700
- Net Operating Income
- 85400
Income Producing
- Year Built
- 2017
- Building SqFt
- 2700
- Net Operating Income
- 85400
- Cap Rate
- 6.83
More Information
Listing Info, Tax and Legal
- HOA Fee
- No
Remarks & Misc
- Remarks
- Net Leased Investment opportunity with absolute triple-net lease and no Landlord responsibilities. Freestanding medical office building and 100% occupied. New Construction completed in April of 2017. The medical office building is currently leased to Emerald Coast Urgent Care with 14 years remaining on the initial term and personal guarantees from the principals. Net Operating income of $85,400 and and priced at a 6.83% Cap Rate.
Construction/Siding
- Brick Veneer
- Yes
- Floor – Concrete
- Yes
- Floor – Tile
- Yes
- Floor – Vinyl
- Yes
- Frame
- Yes
- Roof – Flat
- Yes
- Roof – Membrane
- Yes
- Roof – Sloping
- Yes
Energy
- AC – 2 or More
- Yes
- AC – Central Elect
- Yes
Financing
- Cash
- Yes
- Conventional
- Yes
Present Zoning
- Commercial
- Yes
- County
- Yes
Utilities
- All Utilities
- Yes
- Electricity – Connected
- Yes
- Electric 220/240
- Yes
- Natural Gas – Available
- Yes
- Phone – Connected
- Yes
- Public Sewer – Connected
- Yes
- Water Connected
- Yes
Sale Type
- Accept Backup Offers
- Yes
- As Is
- Yes
- Other – See Remarks
- 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
Offering Type
- Sale Only
- Yes
- Sale with Lease
- Yes
- Other – See Remarks
- Yes
Site Description
- Aerials Available
- Yes
- Corner Location
- Yes
- Level
- Yes
Transport. Access
- 5 or More Lanes
- Yes
- Center Turn Lane
- Yes
- County Road
- Yes
- Paved
- Yes
Property Features
Energy:
AC – 2 or More; AC – Central Elect
Financing:
Cash; Conventional
Offering Type:
Sale Only; Sale with Lease; Other – See Remarks
Present Zoning:
Commercial; County
Sale Type:
Accept Backup Offers; As Is; Other – See Remarks
Site Description:
Aerials Available; Corner Location; Level
Utilities:
All Utilities; Electricity – Connected; Electric 220/240; Natural Gas – Available; Phone – Connected; Public Sewer – Connected; Water Connected
Listing Office:
Counts Real Estate Group Inc
Last Updated: October – 04 – 2024
Information deemed reliable but not guaranteed.