3309 Frankford Avenue A-D, Panama City, FL 32405 (MLS# 733668)

3309 Frankford Avenue A-D, Panama City, FL 32405

$1,357,867

Property Type: Commercial for Sale Square Footage: 7,072 Lot Size (sq. ft.): 54,450 Status: Sold

Current Price: $1,357,867 List Date: 10/20/2022 Last Modified: 10/04/2024

Overview

Description

INCOME PRODUCING COMMERCIAL REAL ESTATE ! This property is perfect for a 1031 exchange buyer! This property is Centrally located in the heart of Panama City on Frankford ave. The building sits on 1.25 acres and has of plenty of parking. The building has 2 long term credit tenants Sea School & Fla Agency for persons with disabilities. APD occupies units A & C and their space is 3315 sq ft. APD is in year two of a 7 year lease with options to renew for an additional 7 years with built-in rent increases. Sea School occupies units B & D and their space is 3052 Sq ft. They are on the first of their 5 year lease with an additional 5 years with built in rent increases. All of the roofing, electrical , HVAC, plumbing, irrigation pump are all brand new.

Supplements: The buildings current zoning and brand new parking capacity would allow for an additional 3,300 sq ft building to be built on the south east of the existing building with a simple submittal of architectural documents and would not require any exceptions or conditions other than meeting Panama City Standard building codes. This property is offered … (Read more)

Listing Details MLS# 733668

Contract Info

List Price/SqFt: 192.01
Sub-Type: Income Producing

Location

Area: 02 – Bay County – Central
Street #: 3309
Street Name: Frankford
Street Suffix: Avenue
Unit #: A-D
State: FL
Zip Code: 32405
County: Bay
Sub Area: 0204 – Bay – Central NW
Subdivision: No Named Subdivision
Community/Resort: None
Waterfront: No
Parcel ID: 26675-100-002
Elementary School: Northside
Middle School: Jinks
High School: Bay
Directions: From the intersection of Highway 390 (St. Andrews Blvd.) and Frankford Avenue, travel North 3/4 miles. The Bayou Commons office building is located on the west side before Pacifica Avenue
Legal Description: 4 3S 15W -1.20- 78D BEG 1716.31' N OF SE COR TH W 200.29' S 275' M/L TO EDGE OF ROBINSON BAYOU TH RUN SELY ALONG SAID WATERS EDGE TO THE WEST R/W LINE OF FRANKFORD AVE TH RUN N ALONG SAID R/W 542 MORE OR LESS TO POB ORB 3165 P 2108

General Property Info

List Class: Commercial
Immediate Occupancy: No
Construction Status: Construction Complete
# of Units: 4
SqFt Unit: 7072
# of Stories in Building: Yes
Floor Number: Yes
Site Dimensions: 200'x 272'
Acreage: 1.25
Frontage Ft: 200
Lot SqFt: 54400
SqFt HVAC: 7072
SqFt Tot Bldg: 7072
Year Built: 1982

Status Change Info

Under Contract Date: 2022-10-25
Sold Date: 2022-11-30
Sold Price/SqFt: 192.01
Sold Price/Acre: 1086293.6

Income Producing

Year Built: 1982
Building SqFt: 7072

More Information

Other

Year Built: 1982

Listing Info, Tax and Legal

HOA Fee: No

Remarks & Misc

Remarks: INCOME PRODUCING COMMERCIAL REAL ESTATE ! This property is perfect for a 1031 exchange buyer! This property is Centrally located in the heart of Panama City on Frankford ave. The building sits on 1.25 acres and has of plenty of parking. The building has 2 long term credit tenants Sea School & Fla Agency for persons with disabilities. APD occupies units A & C and their space is 3315 sq ft. APD is in year two of a 7 year lease with options to renew for an additional 7 years with built-in rent increases. Sea School occupies units B & D and their space is 3052 Sq ft. They are on the first of their 5 year lease with an additional 5 years with built in rent increases. All of the roofing, electrical , HVAC, plumbing, irrigation pump are all brand new.

Construction/Siding

Block: Yes
Brick: Yes
Concrete: Yes
Floor – Concrete: Yes
Floor – Vinyl: Yes
Floor – W/W Carpet: Yes
Frame: Yes
Roof – Flat: Yes
Siding – Hardie Board: Yes
Siding – Stone: Yes
Siding – Stucco: Yes

Energy

AC – 2 or More: Yes
AC – Central Elect: Yes
AC – High Efficiency: Yes
Heat – Central Electric: Yes
Heat – High Efficiency: Yes
Water Heater – Electric: Yes

Financing

Cash: Yes
Conventional: Yes

Utilities

Fuel – Natural Gas: Yes
Public Sewer – Connected: Yes
Water Connected: Yes

Accessibility Features

Accessible Approach with Ramp: Yes
Accessible Common Area: Yes
Accessible Hallway(s): Yes

Sale Type

As Is: Yes

Business/Property

Freestanding Building: Yes
Furnished – None: Yes
Handicapped Access: Yes

Floors in Unit/Home

One: Yes

Heating/Cooling

AC – Central: Yes
AC – HVAC: Yes
Heat – Central Electric: Yes
Heat – Office: Yes

Offering Type

Real Estate: Yes

Pricing Type

Other – See Remarks: Yes

Site Description

Interior Location: Yes
Landscaped: Yes
Level: Yes
Survey: Yes

Transport. Access

4-Lane: Yes
Paved: Yes

Property Features

Accessibility Features: Accessible Approach with Ramp; Accessible Common Area; Accessible Hallway(s) Energy: AC – 2 or More; AC – Central Elect; AC – High Efficiency; Heat – Central Electric; Heat – High Efficiency; Water Heater – Electric Financing: Cash; Conventional Offering Type: Real Estate Pricing Type: Other – See Remarks Sale Type: As Is Site Description: Interior Location; Landscaped; Level; Survey Utilities: Fuel – Natural Gas; Public Sewer – Connected; Water Connected

Listing Office: Eagle American Realty Group LLC

Last Updated: October – 04 – 2024

Information deemed reliable but not guaranteed.