600 Grand Panama Boulevard FLRS 2-4, Panama City Beach, FL 32407

$3,700,000
Property Type: Commercial for Sale Square Footage: 26,852 Status: Sold
Current Price: $3,700,000 List Date: 1/11/2011 Last Modified: 10/03/2024

Overview

Description

Major Price Reduction! We are pleased to present for sale the Grand Panama Office Building, comprised of 37,621 sq. ft. of class A office condominium space within the Grand Panama Beach Resort. Completed in June 2007, the property is anchored on the first floor by Royal Bank of Canada (who owns the first floor). Currently operating under a condominium association, this offering includes the 2nd, 3rd and 4th floors of the building consisting of approximately 26,852 square feet of fully leased space. The Grand Panama Office Building is centrally located in Panama City Beach and offers easy access to all major arteries. This is a trophy building with views of the Gulf of Mexico from most of the office suites. The tenants include; Northrop Grumman, POSabilites, Eagle SWS, BevCheck, and

Supplements: Tipton Marler. Net Operating Income = $385,511. Cap Rate = 9.5%. Occupancy = 100%. Offering: Floors 2, 3 & 4 (out of 4). Please call for detailed Offering Memorandum and to setup a tour.

Listing Details MLS# 413213

Contract Info

List Price/SqFt
146.17
Sub-Type
Other

Location

Area
03 – Bay County – Beach
Street #
600
Street Name
Grand Panama
Street Suffix
Boulevard
Unit #
FLRS 2-4
State
FL
Zip Code
32407
County
Bay
Sub Area
0320 – Beach – Middle Central
Subdivision
Grand Panama Beach Resort
Community/Resort
None
Parcel ID
40000-725-012
Section
35
Township
3S
Range
16W
Directions
The Grand Panama Office Building is located on Hutchison Blvd. (a/k/a Middle Beach Road) at the main entrance to the Grand Panama Beach Resort, adjacent to BoneFish Grill at the Village of Grand Panama between Alf Coleman Road and Richard Jackson Blvd.
Legal Description
GRAND PANAMA BEACH RESORT OFFICE CONDOMINUIUM MAP 47C2 ORB 2942 P 234 UNITS; 201, 202, 203, 301, 302, 303, 401, 402 AND 403. 26,852 TOTAL RENTABLE SQ FT The legal description shown here may be condensed for assessment purposes. Exact description may be obtained from the recorded deeds.

General Property Info

Immediate Occupancy
No
Construction Status
Construction Complete
SqFt HVAC
26852
SqFt – Office
26852
SqFt Tot Bldg
26852
Year Built
2007
Ceiling Height
10

Status Change Info

Under Contract Date
2011-10-04
Sold Date
2012-02-01
Sold Price/SqFt
137.79

Listing Info, Tax and Legal

HOA Fee
No

Remarks & Misc

Remarks
Major Price Reduction! We are pleased to present for sale the Grand Panama Office Building, comprised of 37,621 sq. ft. of class A office condominium space within the Grand Panama Beach Resort. Completed in June 2007, the property is anchored on the first floor by Royal Bank of Canada (who owns the first floor). Currently operating under a condominium association, this offering includes the 2nd, 3rd and 4th floors of the building consisting of approximately 26,852 square feet of fully leased space. The Grand Panama Office Building is centrally located in Panama City Beach and offers easy access to all major arteries. This is a trophy building with views of the Gulf of Mexico from most of the office suites. The tenants include; Northrop Grumman, POSabilites, Eagle SWS, BevCheck, and

More Information

Construction/Siding

Floor – Concrete
Yes
Floor – Tile
Yes
Floor – W/W Carpet
Yes
Steel/Frame
Yes
Siding – Stone
Yes
Siding – Stucco
Yes

Energy

AC – 2 or More
Yes
AC – Central Elect
Yes
AC – High Efficiency
Yes

Financing

Cash
Yes
Conventional
Yes

Present Zoning

City
Yes
Commercial
Yes

Waterview

Gulf
Yes

Sale Type

As Is
Yes

Business/Property

Handicapped Access
Yes
Handicapped Facilities
Yes
Kitchen Area
Yes

Floors in Unit/Home

Three Or More
Yes

Heating/Cooling

AC – Central
Yes
AC – HVAC
Yes

Site Description

Aerials Available
Yes
Deed Restriction
Yes

Transport. Access

2-Lane
Yes
5 or More Lanes
Yes
Center Turn Lane
Yes

Property Features

Energy: AC – 2 or More; AC – Central Elect; AC – High Efficiency Financing: Cash; Conventional Present Zoning: Commercial Sale Type: As Is Site Description: Aerials Available; Deed Restriction Waterview: Gulf
Listing Office: Counts Real Estate Group Inc
Last Updated: October – 03 – 2024
Information deemed reliable but not guaranteed.