6908 Lagoon Drive, Panama City Beach, FL 32408 (MLS# 505506)

6908 Lagoon Drive, Panama City Beach, FL 32408

$900,000

Property Type: Commercial for Sale Lot Size (sq. ft.): 65,340 Status: Sold

Current Price: $900,000 List Date: 4/02/2012 Last Modified: 10/03/2024

Overview

Description

Multi Family Commercial buildings…Two 2 story buildings, 11 unit residential condo-conversion plus 12 unit apartment building on approximately 1.5 acres across from North Lagoon. Condo units are 1050+ sq ft featuring 2 bedroom 1.5 bath floor plan in desirable North Lagoon neighborhood. 10 Condos have been upgraded with stainless appliances, ceramic tile. Both buildings have new galvanized metal roofs, new lift stations/pumps. Sunset Lagoon has new parking lot, landscaping,patio fencing and has recently been painted. Both buildings are on city water and sewer and both buildings retain approximately 100% rental occupancy at time of listing. 11 UNITS RENT FOR $800 PER MONTH, 12 UNITS RENT FOR $700 PER MONTH. All sizes are approximate. Please verify if important. Please do not have

Supplements: any direct contact with Tenants.

Listing Details MLS# 505506

Contract Info

Sub-Type: Multi-Family

Location

Area: 03 – Bay County – Beach
Street #: 6908
Street Name: Lagoon
Street Suffix: Drive
State: FL
Zip Code: 32408
County: Bay
Sub Area: 0319 – Beach – East
Subdivision: Sunset Lagoon
Community/Resort: None
Parcel ID: 30940-000-000
Directions: Traveling south on Thomas Drive before the curve turn right on on Daniel. Turn Right to North Lagoon. Sunset Lagoon will be on your Right hand side. Betsy Lane Apartments – continue North on North Lagoon to Betsy Lane (just past Sunset Lagoon) End of Betsy Lane on Right.
Legal Description: SUNSET LAGOON CONDOMINIUM 9 4S 15 W DECLARATION OF CONDO ORB 3027 P 1203 ENDING RE# 40001-225-012 11 SFR UNITS (PHASE i) 11 CONDOMINIUM UNITS FORMALLY KNOWN AS THE GROVES APARTMENTS PH 1 30940-000-000 OUT OF 30941-000-000 .187 ACRES AND .613 ACRES OUT OF 30940-000-000 SEE ATTACHED.

General Property Info

List Class: Other
Immediate Occupancy: No
Construction Status: Construction Complete
# of Units: 23
Acreage: 1.5
Year Built: 1984

Status Change Info

Under Contract Date: 2013-07-26
Sold Date: 2013-10-30
Sold Price/Acre: 600000

Listing Info, Tax and Legal

HOA Fee: No

Remarks & Misc

Remarks: Multi Family Commercial buildings…Two 2 story buildings, 11 unit residential condo-conversion plus 12 unit apartment building on approximately 1.5 acres across from North Lagoon. Condo units are 1050+ sq ft featuring 2 bedroom 1.5 bath floor plan in desirable North Lagoon neighborhood. 10 Condos have been upgraded with stainless appliances, ceramic tile. Both buildings have new galvanized metal roofs, new lift stations/pumps. Sunset Lagoon has new parking lot, landscaping,patio fencing and has recently been painted. Both buildings are on city water and sewer and both buildings retain approximately 100% rental occupancy at time of listing. 11 UNITS RENT FOR $800 PER MONTH, 12 UNITS RENT FOR $700 PER MONTH. All sizes are approximate. Please verify if important. Please do not have

More Information

Construction/Siding

Wood/Frame: Yes
Roof – Metal: Yes
Siding – Hardie Board: Yes

Energy

AC – Central Elect: Yes
Heat – Central Electric: Yes

Financing

Cash: Yes
Conventional: Yes

Present Zoning

Resid Multi-Family: Yes

Utilities

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

Sale Type

As Is: Yes
REO: Yes

Floors in Unit/Home

Two: Yes

Heating/Cooling

AC – Central: Yes
Heat – Central Electric: Yes

Offering Type

Sale Only: Yes

Pricing Type

Sale Price: Yes

Transport. Access

2-Lane: Yes
Near Airport: Yes

Property Features

Energy: AC – Central Elect; Heat – Central Electric Financing: Cash; Conventional Offering Type: Sale Only Pricing Type: Sale Price Present Zoning: Resid Multi-Family Sale Type: As Is; REO Utilities: Electricity – Availabile; Public Sewer – Connected; Water Connected; TV Cable

Listing Office: ERA Neubauer Real Estate Inc

Last Updated: October – 03 – 2024

Information deemed reliable but not guaranteed.