704 W 23rd Street, Panama City, FL 32405
$2,650,000
Property Type:
Commercial for Sale
Square Footage:
22,000
Lot Size (sq. ft.):
130,680
Status:
Sold
Current Price:
$2,650,000
List Date:
8/10/2021
Last Modified:
10/04/2024
Overview
Description
Listing Details MLS# 690188
Contract Info
- List Price/SqFt
- 181.77
- Sub-Type
- Income Producing
Location
- Area
- 02 – Bay County – Central
- Street #
- 704
- Street Direction
- W
- Street Name
- 23rd
- Street Suffix
- Street
- State
- FL
- Zip Code
- 32405
- County
- Bay
- Sub Area
- 0204 – Bay – Central NW
- Subdivision
- No Named Subdivision
- Community/Resort
- None
- Waterfront
- No
- Parcel ID
- 13008-000-000
- Elementary School
- Northside
- Middle School
- Jinks
- High School
- Bay
- Directions
- Take 23rd St to the 23rd St Plaza sign. Turn towards Newk's restaurant and pass Innovations Bank on the left and it is directly behind it
- Legal Description
- 29 3S 14W -20- 91A ST AND BAY DEV CO PLAT THAT PART OF LOT 105, 106, 119 & 122 LYING N OF CENTER LINE OF 60' DRAIN DITCH LESS -20.1- ORB 3232 P 1650
General Property Info
- List Class
- Commercial
- Construction Status
- Construction Complete
- Acreage
- 3
- SqFt HVAC
- 22000
- SqFt – Workarea
- 22000
- SqFt – Office
- 22000
- SqFt Tot Bldg
- 22000
- Year Built
- 1987
Status Change Info
- Under Contract Date
- 2021-07-01
- Sold Date
- 2021-07-07
- Sold Price/SqFt
- 120.45
- Sold Price/Acre
- 883333.33
Business Only
- Year Built
- 1988
- Building SqFt
- 32000
- Actual Gross Income
- 334000
- Expenses
- 50000
- Cap Rate
- 7
- Net Operating Income
- 284000
Income Producing
- Building SqFt
- 32000
- Annual Gross Income
- 512000
More Information
Listing Info, Tax and Legal
- HOA Fee
- No
Remarks & Misc
- Remarks
- ***INCOME PRODUCING INVESTMENT OPPORTUNITY!!! 6 BUILDINGS, 9 TENANTS, 100% OCCUPIED COMMERCIAL OFFICE PARK*** Approximately 22,000 square feet of combined rental space on 3 acres. $332,000 in annual rental income. Landlord pays $50,000 annually in taxes, lighting and maintenance expenses…tenants pay their own insurance. Most have 3 to 5 year leases that can be provided for review. Tenants not to be disturbed and include ESPN Sports Radio, FOX TV, AMI Store management, Pancare of FL, and many more. ***SELLER WILL CARRY A NOTE WITH 25% DOWN, 6% INTEREST RATE, ON A 25 YEAR AMORTIZATION WITH A 3-5 YEAR BALLOON. Contact listing agent for details
Construction/Siding
- Frame
- Yes
- Roof – Metal
- Yes
- Siding – Stucco
- Yes
Energy
- AC – 2 or More
- Yes
- AC – Central Elect
- Yes
- Heat – Central Electric
- Yes
- Water Heater – Electric
- Yes
Financing
- Cash
- Yes
- Conventional
- Yes
Present Zoning
- City
- Yes
- Commercial
- Yes
Utilities
- All Maintenance
- Yes
- All Utilities
- Yes
- Public Sewer – Connected
- Yes
- Water Connected
- Yes
- Yard Maintenance
- Yes
Sale Type
- As Is
- Yes
Business/Property
- Anchor Tenant
- Yes
- Freestanding Building
- Yes
- Furnished – None
- Yes
- Kitchen Area
- Yes
- Office Area
- Yes
- Restrooms – Private
- Yes
Floors in Unit/Home
- One
- Yes
Heating/Cooling
- AC – Central
- Yes
- Heat – Central Electric
- Yes
Offering Type
- Real Estate
- Yes
- Sale Only
- Yes
- Sale with Lease
- Yes
Site Description
- Aerials Available
- Yes
- Site – Strip Mall
- Yes
Property Features
Energy:
AC – 2 or More; AC – Central Elect; Heat – Central Electric; Water Heater – Electric
Financing:
Cash; Conventional
Offering Type:
Real Estate; Sale Only; Sale with Lease
Present Zoning:
Commercial
Sale Type:
As Is
Site Description:
Aerials Available; Site – Strip Mall
Utilities:
All Maintenance; All Utilities; Public Sewer – Connected; Water Connected; Yard Maintenance
Listing Office:
Berkshire Hathaway HomeServices Beach Properties of Florida
Last Updated: October – 04 – 2024
Information deemed reliable but not guaranteed.