8115 Thomas Drive, Panama City Beach, FL 32408
$1,050,000
Property Type:
Commercial for Sale
Square Footage:
13,984
Lot Size (sq. ft.):
28,314
Status:
Sold
Current Price:
$1,050,000
List Date:
6/14/2019
Last Modified:
10/04/2024
Overview
Description
Listing Details MLS# 684900
Contract Info
- List Price/SqFt
- 85.81
- Sub-Type
- Multi-Family
Location
- Area
- 03 – Bay County – Beach
- Street #
- 8115
- Street Name
- Thomas
- Street Suffix
- Drive
- State
- FL
- Zip Code
- 32408
- County
- Bay
- Sub Area
- 0323 – Beach – South of Grand Lagoon
- Subdivision
- [No Recorded Subdiv]
- Community/Resort
- None
- Waterfront
- No
- Parcel ID
- 30409-000-000
- Elementary School
- Patronis
- Middle School
- Surfside
- High School
- Arnold
- Directions
- From US Hwy. 98 Head West on Front Beach Road 2.3 miles to Joan Avenue. Go South on Joan Avenue 0.9 miles to Thomas Drive . Head East on Thomas Drive 0.57 miles property will be on South side of Thomas Drive.
- Legal Description
- BEL AIR LOT 1 & NELY 20.1' OF LOT 2 & BEG 220' NWLY OF INTER S LINE GOVT LOT 10 & SLY R/W THOMAS DR TH NWLY 114.26' S 202.30' NELY 150' TO POB BLK 17 ORB 1298 P 249 (1.01) ORB 1950 P 1940 ORB 2539 P 528 ORB 2567 P 1978
General Property Info
- List Class
- Apartment
- Immediate Occupancy
- No
- Construction Status
- Construction Complete
- # of Units
- 20
- Acreage
- 0.65
- Frontage Ft
- 180
- Lot Depth
- 150
- SqFt Tot Bldg
- 13984
- Year Built
- 1983
Status Change Info
- Under Contract Date
- 2019-06-17
- Sold Date
- 2019-07-15
- Sold Price/SqFt
- 75.09
- Sold Price/Acre
- 1615384.62
Business Only
- Year Built
- 1983
- Building SqFt
- 13984
Listing Info, Tax and Legal
- HOA Fee
- No
More Information
Remarks & Misc
- Remarks
- This five building complex includes #20 total units; #10-2 bedroom / 1.5 baths and #10-1 bedroom / 1 bath units. The apartments area located on the Gulf-side of Thomas Drive and is a fantastic value-add investment opportunity in Panama City Beach, Florida. Crystal Beach Apartments stays 100% occupied with its short walk to the Beach via Snapper Street and Surf Drive. The buildings did receive damage from Hurricane Michael and the seller did not have insurance. The buildings NEED WORK, but stays 100% occupied with market rental rates are increasing rapidly. The seller will install new roofs prior to closing. Otherwise, to be sold ''as-is''. The highest-and-best use could be to completely renovate and convert the units to vacation rentals as the property is less than 100 yards to the Be
Financing
- Cash
- Yes
Utilities
- All Utilities
- Yes
Floors in Unit/Home
- Two
- Yes
Transport. Access
- 4-Lane
- Yes
Property Features
Financing:
Cash
Utilities:
All Utilities
Listing Office:
Counts Real Estate Group Inc
Last Updated: October – 04 – 2024
Information deemed reliable but not guaranteed.