545 Magnolia Avenue, Panama City, FL 32401 (MLS# 741145)

545 Magnolia Avenue, Panama City, FL 32401

$210,000

Property Type: Commercial for Sale Square Footage: 10,228 Lot Size (sq. ft.): 19,166 Status: Sold

Current Price: $210,000 List Date: 5/08/2023 Last Modified: 10/04/2024

Overview

Description

Great location with the ever booming downtown Panama City. With all the new businesses coming in, this will be a diamond in the rough. Currently being used for a hotel but it can be almost any type of business.

Listing Details MLS# 741145

Contract Info

List Price/SqFt: 95.33
Sub-Type: Hotel/Motel

Location

Area: 02 – Bay County – Central
Street #: 545
Street Name: Magnolia
Street Suffix: Avenue
State: FL
Zip Code: 32401
County: Bay
Sub Area: 0203 – Bay – Central SW
Subdivision: [No Recorded Subdiv]
Community/Resort: None
Waterfront: No
Parcel ID: 19751-000-000
Elementary School: Cherry Street
Middle School: Jinks
High School: Bay
Directions: Harrison Ave and 6th St., turn left on Magnolia Ave. Hotel on the left.
Legal Description: GCD PLAT LOTS 11, 12, 13 BLK 20 ORB 1275 P 1523 ORB 1281 P 718 ORB 1324 P 1419 MAP 92D1

General Property Info

List Class: Motel/Hotel
Construction Status: Construction Complete
# of Units: 28
Acreage: 0.44
SqFt Tot Bldg: 10228
Year Built: 1957

Status Change Info

Under Contract Date: 2023-09-13
Sold Date: 2023-10-05
Sold Price/SqFt: 20.53
Sold Price/Acre: 477272.73

Business Only

Year Built: 1957
Building SqFt: 5612

Office

Year Built: 1957
Building SqFt: 500

More Information

Listing Info, Tax and Legal

HOA Fee: No

Remarks & Misc

Remarks: Great location with the ever booming downtown Panama City. With all the new businesses coming in, this will be a diamond in the rough. Currently being used for a hotel but it can be almost any type of business.

Construction/Siding

Roof – Flat: Yes
Siding – Masonite: Yes

Energy

AC – Window/Wall: Yes
Heat – Wall/Window: Yes

Financing

Cash: Yes
Conventional: Yes

Present Zoning

City: Yes
Resid Multi-Family: Yes

Utilities

TV Cable: Yes
Electricity – Connected: Yes
Garbage: Yes
Public Sewer – Connected: Yes
Water Connected: Yes

Sale Type

As Is: Yes

Business/Property

Furnished – Some: Yes
Laundry Facilities: Yes
Living Quarters: Yes

Floors in Unit/Home

Two: Yes

Heating/Cooling

AC – Window Unit(s): Yes

Hotel/Motel

Year Built: 1957
Building SqFt: 5612
# of Rooms: 28
Avg % Occupancy: 95

Transport. Access

2-Lane: Yes

Property Features

Energy: AC – Window/Wall; Heat – Wall/Window Financing: Cash; Conventional Present Zoning: Resid Multi-Family Sale Type: As Is Utilities: Electricity – Connected; Garbage; Public Sewer – Connected; Water Connected; TV Cable

Listing Office: Realty One of Northwest Florida LLC

Last Updated: October – 04 – 2024

Information deemed reliable but not guaranteed.