5607 Thomas Drive, Panama City, FL 32408 (MLS# 419273)

5607 Thomas Drive, Panama City, FL 32408

$1,900,000

Property Type: Commercial for Sale Lot Size (sq. ft.): 68,825 Status: Sold

Current Price: $1,900,000 List Date: 8/08/2011 Last Modified: 10/03/2024

Overview

Description

BANK OWNED! Very valuable property with great income potential! The motel rooms range from efficiency, standard w/kitchen, 1 bed suite. 2 Bed suites with the possibility to create 3 bedrooms. Includes office and manager’s apartment over office. A Beach Cottage and a remodeled two-story Duplex with a Gulf view sits on the back of the parcel and faces public beach access #10 – potential for more income. There is a nice pool area behind the motel. Four parcels are included in this site: 32320-000-000, 32319-000-000, 32318-000-000, 32326-000-000. The addresses are 5607 Thomas Dr., 5601 Thomas Dr., 5530 Thomas Dr. & 5606 Gulf Dr. Please verify all info. before purchases.

Listing Details MLS# 419273

Contract Info

Sub-Type: Other

Location

Area: 03 – Bay County – Beach
Street #: 5607
Street Name: Thomas
Street Suffix: Drive
State: FL
Zip Code: 32408
County: Bay
Sub Area: 0323 – Beach – South of Grand Lagoon
Subdivision: Gulf Lagoon Beach
Community/Resort: None
Parcel ID: 32320-000-000
Directions: Heading west on Thomas Drive, Panama Palms Motel will be on the left before Biltmore Dr. on the South (gulf side) of Thomas Drive.
Legal Description: GULF LAGOON BEACH LOTS 7, 8, 17 & 18 BLK 10 ORB 1873 P 952 ORB 2508 P 1718

General Property Info

Construction Status: Construction Complete
# of Units: 50
Acreage: 1.58
SqFt HVAC: 8884
Year Built: 1961

Status Change Info

Under Contract Date: 2012-04-24
Sold Date: 2012-04-27
Sold Price/Acre: 1202531.65

Listing Info, Tax and Legal

HOA Fee: No

Remarks & Misc

Remarks: BANK OWNED! Very valuable property with great income potential! The motel rooms range from efficiency, standard w/kitchen, 1 bed suite. 2 Bed suites with the possibility to create 3 bedrooms. Includes office and manager's apartment over office. A Beach Cottage and a remodeled two-story Duplex with a Gulf view sits on the back of the parcel and faces public beach access #10 – potential for more income. There is a nice pool area behind the motel. Four parcels are included in this site: 32320-000-000, 32319-000-000, 32318-000-000, 32326-000-000. The addresses are 5607 Thomas Dr., 5601 Thomas Dr., 5530 Thomas Dr. & 5606 Gulf Dr. Please verify all info. before purchases.

More Information

Energy

AC – Central Elect: Yes

Financing

Cash: Yes
Conventional: Yes

Present Zoning

Commercial: Yes

Utilities

Electricity – Connected: Yes
Electric 220/240: Yes
Public Sewer – Connected: Yes
Water Connected: Yes

Sale Type

In Foreclosure: Yes

Floors in Unit/Home

Two: Yes

Transport. Access

2-Lane: Yes

Property Features

Energy: AC – Central Elect Financing: Cash; Conventional Present Zoning: Commercial Sale Type: In Foreclosure Utilities: Electricity – Connected; Electric 220/240; Public Sewer – Connected; Water Connected

Listing Office: Nations Real Estate, Inc

Last Updated: October – 03 – 2024

Information deemed reliable but not guaranteed.