5802 E Highway 22, Panama City, FL 32404
$1,050,000
Property Type:
Commercial for Sale
Square Footage:
10,973
Lot Size (sq. ft.):
89,298
Status:
Sold
Current Price:
$1,050,000
List Date:
5/03/2023
Last Modified:
11/25/2024
Listing Details MLS# 740921
Contract Info
- List Price/SqFt
- 164.04
- Sub-Type
- Multi-Family
Location
- Area
- 02 – Bay County – Central
- Street #
- 5802
- Street Direction
- E
- Street Name
- Highway 22
- State
- FL
- Zip Code
- 32404
- County
- Bay
- Sub Area
- 0202 – Bay – Central SE
- Subdivision
- [No Recorded Subdiv]
- Community/Resort
- None
- Waterfront
- No
- Parcel ID
- 06086-000-000
- Elementary School
- Parker
- Middle School
- Everitt
- High School
- Rutherford
- Directions
- From Tyndall Parkway and Hwy 22, head east on 22, property on right
- Legal Description
- 7 4S 13W -59-131C3 ORB 591 P 382 BEG 825' E & 170' S OF W LINE OF SEC & S LI OF SR # 22 TH S 460' E 165' N 390' W 45' N 70' W 120' TO POB ORB 289 P 673, 675 LESS 15' ESMT ON W SID & LESS PCL 25' X 25' ORB 1302 P 461 ORB 2169 P 2379
General Property Info
- List Class
- Residential Income
- Immediate Occupancy
- Yes
- Construction Status
- Construction Complete
- # of Units
- 15
- # of Stories in Building
- Yes
- Site Dimensions
- 120×640
- Acreage
- 2.05
- Frontage Ft
- 120
- Lot Depth
- 640
- SqFt Tot Bldg
- 10973
- Year Built
- 1971
- Ceiling Height
- 8
Status Change Info
- Under Contract Date
- 2024-11-13
- Sold Date
- 2024-11-22
- Sold Price/SqFt
- 95.69
- Sold Price/Acre
- 512195.12
Income Producing
- Year Built
- 1981
Multi-Family
- Year Built
- 1971
- # of Units
- 15
More Information
Listing Info, Tax and Legal
- HOA Fee
- No
Remarks & Misc
- Remarks
- Here is your opportunity to purchase a 15 unit multifamily apartment complex with commercial road frontage property. This listing consists of two parcels of property. The Hwy 22 road frontage parcel is Parcel ID # 06086-010-000 which consists of .46 acre of vacant road frontage land. The second parcel is Parcel ID # 06086-000-000 which consists of 1.58 acres of land and holds 15 two bedroom one bath residential apartment units. There are currently 3 duplexes and 3 triplexes on this parcel. There are currently 7 occupied units at $1,100 per unit per month. There are several units that are in need of remodel (see photos.) At full occupancy, gross income would be $16,500 per month or higher with potential to rebuild several more units. Prior to Hurricane Michael, there were several more units on road frontage parcel. Slabs are still in place which would give potential Buyer more space for more units to be built. This property is just around the corner from Super Walmart, Starbucks, restaurants, shopping and a very short drive to Tyndall Air Force Base.
Construction/Siding
- Brick
- Yes
- Floor – Tile
- Yes
- Foundation – Slab on Grade
- Yes
- Roof – Composite Shngl
- Yes
- Trim – Wood
- Yes
Energy
- AC – Central Elect
- Yes
- Ceiling Fans
- Yes
- Heat – Central Electric
- Yes
- Water Heater – Electric
- Yes
Financing
- Cash
- Yes
- Conventional
- Yes
Present Zoning
- City
- Yes
- Resid Multi-Family
- Yes
Utilities
- TV Cable
- Yes
- Electricity – Connected
- Yes
- Phone – Connected
- Yes
- Public Sewer – Connected
- Yes
- Water Connected
- Yes
Sale Type
- As Is
- Yes
Floors in Unit/Home
- One
- Yes
Heating/Cooling
- AC – Central
- Yes
- Heat – Central Electric
- Yes
Offering Type
- Real Estate
- Yes
- Sale Only
- Yes
Site Description
- Interior Location
- Yes
Transport. Access
- 2-Lane
- Yes
- City Road
- Yes
- Paved
- Yes
Property Features
Energy:
AC – Central Elect; Ceiling Fans; Heat – Central Electric; Water Heater – Electric
Financing:
Cash; Conventional
Offering Type:
Real Estate; Sale Only
Present Zoning:
Resid Multi-Family
Sale Type:
As Is
Site Description:
Interior Location
Utilities:
Electricity – Connected; Phone – Connected; Public Sewer – Connected; Water Connected; TV Cable
Listing Office:
Coldwell Banker Realty
Last Updated: November – 25 – 2024
Information deemed reliable but not guaranteed.