7702 Mcelvey Road, Panama City Beach, FL 32408 (MLS# 700876)

7702 Mcelvey Road, Panama City Beach, FL 32408

$800,000

Property Type: Commercial for Sale Square Footage: 9,000 Lot Size (sq. ft.): 21,780 Status: Sold

Current Price: $800,000 List Date: 8/13/2020 Last Modified: 10/04/2024

Overview

Description

Attention Investors 8% CAP rate with long term NNN leases in place (8 yrs remaining with 2% annual increases) approx $69,000 NOI. This multi-story 6,000 sq ft building has over 10,000 sq ft of built-out live/work leasable space with plenty of parking. Currently leased to two well established local businesses. This investment property is located in the Holley St Commercial Park.

Listing Details MLS# 700876

Contract Info

List Price/SqFt: 97.22
Sub-Type: Income Producing

Location

Area: 03 – Bay County – Beach
Street #: 7702
Street Name: Mcelvey
Street Suffix: Road
State: FL
Zip Code: 32408
County: Bay
Sub Area: 0319 – Beach – East
Subdivision: Holly Street Commercial Park
Community/Resort: None
Waterfront: No
Parcel ID: 27883-713-000
Elementary School: Breakfast Point
Middle School: Breakfast Point
High School: Arnold
Directions: FROM HWY 98 GO SOUTH ON THOMAS DR. .5 MILES TURN RIGHT ON MCELVEY RD. FOLLOW ROAD AROUND TO # 7702 on right
Legal Description: HOLLEY ST COMMERCIAL PARK 57D LOT 13 SUBJ TO ESMTS ORB 4020 P 2278

General Property Info

List Class: Commercial
Construction Status: Construction Complete
Acreage: 0.5
SqFt Tot Bldg: 9000
Year Built: 2004

Status Change Info

Under Contract Date: 2020-08-27
Sold Date: 2020-10-09
Sold Price/SqFt: 88.89
Sold Price/Acre: 1600000

Income Producing

Year Built: 2004
Net Operating Income: 69000
Cap Rate: 8

Listing Info, Tax and Legal

HOA Fee: No

More Information

Remarks & Misc

Remarks: Attention Investors 8% CAP rate with long term NNN leases in place (8 yrs remaining with 2% annual increases) approx $69,000 NOI. This multi-story 6,000 sq ft building has over 10,000 sq ft of built-out live/work leasable space with plenty of parking. Currently leased to two well established local businesses. This investment property is located in the Holley St Commercial Park.

Construction/Siding

Floor – Concrete: Yes
Foundation – Slab on Grade: Yes
Steel/Frame: Yes
Roof – Gutters: Yes
Roof – Metal: Yes
Siding – Alum Metal: Yes
Siding – Metal: Yes

Energy

AC – 2 or More: Yes
AC – Central Elect: Yes
Ceiling Fans: Yes
Roof Vent: Yes
Skylight(s): Yes
Water Heater – Electric: Yes

Financing

Cash: Yes
Conventional: Yes

Present Zoning

Industrial Light: Yes

Utilities

All Utilities: Yes
Community Sewer: Yes
Community Water: Yes
Electricity – Connected: Yes
Electricity – Availabile: Yes
Public Sewer – Connected: Yes
Water Connected: Yes

Business/Property

Freestanding Building: Yes
Handicapped Access: Yes
Kitchen Area: Yes
Living Quarters: Yes
Office Area: Yes
Restrooms – Private: Yes
Restrooms – Public: Yes

Floors in Unit/Home

Two: Yes

Heating/Cooling

AC – Central: Yes
AC – HVAC: Yes
AC – Office: Yes
AC – Warehouse: Yes

Offering Type

Sale Only: Yes

Site Description

Aerials Available: Yes
Covenant: Yes
Easement(s): Yes
Landscaped: Yes
Level: Yes
Survey: Yes

Transport. Access

2-Lane: Yes
County Road: Yes
Paved: Yes

Property Features

Energy: AC – 2 or More; AC – Central Elect; Ceiling Fans; Roof Vent; Skylight(s); Water Heater – Electric Financing: Cash; Conventional Offering Type: Sale Only Present Zoning: Industrial Light Site Description: Aerials Available; Covenant; Easement(s); Landscaped; Level; Survey Utilities: All Utilities; Community Sewer; Community Water; Electricity – Connected; Electricity – Availabile; Public Sewer – Connected; Water Connected

Listing Office: Counts Real Estate Group Inc

Last Updated: October – 04 – 2024

Information deemed reliable but not guaranteed.