9502 CLARENCE Street, Panama City Beach, FL 32407
$1,250,000
Property Type:
Commercial for Sale
Square Footage:
2,155
Lot Size (sq. ft.):
167,270
Status:
Sold
Current Price:
$1,500,000
List Date:
6/22/2020
Last Modified:
10/04/2024
Description
UNDER CONTRACT, OWNER IS ACCEPTING BACK UPS. Rustic Beach MH Park located in the heart of PCB. This property grosses approximately $290000 annually, including the house. Currently no vacancies. Site consists of 20 sites, laundry facility plus 2155 SF 3 bedroom, 2 bath renovated home and work shop. New asphalt privately maintained road was added.
-House $2000 month (currently owner occupied)
-15 mobile homes owned average approx $1000 per month each
-4 RVs owned $800 month each
-5 RV sites leased at $600 month each
-3 mobile home sites leased at $300 month each
-Laundry facility income approx $500 month
Expenses:
– water $300 month
-garbage $250 month
-electric $1000 month
-tax estimate $14000 annually
-insurance estimate $7000 annually
-Owner maintains park grounds, owne
More Information MLS# 691672
Contract Info
List Price/SqFt: 696.06
List Date: 2019-12-09
List Price: $1,500,000
Current Price: $1,250,000
Sub-Type: Mobile Home Park
Location
Sub Area: 0320 – Beach – Middle Central
Community/Resort: None
Waterfront: No
Elementary School: Hutchison Beach
Middle School: Surfside
High School: Arnold
Section: 31
Directions: Front Beach to Moylan, turn north, take left on Clarence, park is on the right
Range: 15w
Area: 03 – Bay County – Beach
Street #: 9502
Street Name: CLARENCE
Street Suffix: Street
State: FL
Zip Code: 32407
County: Bay
Subdivision: No Named Subdivision
Parcel ID: 27575-000-000
Legal Description: metes and bounds
General Property Info
List Class: RV/Mobile Park
Acreage: 3.84
Immediate Occupancy: No
Construction Status: Construction Complete
# of Units: 20
SqFt Tot Bldg: 2155
Year Built: 1974
Listing Info, Tax and Legal
HOA Fee: No
Remarks & Misc
Remarks: UNDER CONTRACT, OWNER IS ACCEPTING BACK UPS. Rustic Beach MH Park located in the heart of PCB. This property grosses approximately $290000 annually, including the house. Currently no vacancies. Site consists of 20 sites, laundry facility plus 2155 SF 3 bedroom, 2 bath renovated home and work shop. New asphalt privately maintained road was added.
-House $2000 month (currently owner occupied)
-15 mobile homes owned average approx $1000 per month each
-4 RVs owned $800 month each
-5 RV sites leased at $600 month each
-3 mobile home sites leased at $300 month each
-Laundry facility income approx $500 month
Expenses:
– water $300 month
-garbage $250 month
-electric $1000 month
-tax estimate $14000 annually
-insurance estimate $7000 annually
-Owner maintains park grounds, owne
Status Change Info
Sold Price/SqFt: 580.05
Sold Price/Acre: 325520.83
Status: Sold
Under Contract Date: 2020-06-22
Sold Date: 2020-06-30
Sold Price: $1,250,000
Financing
Cash: 1
Conventional: 1
Association Amenities
Laundry: 1
Utilities
Electricity – Connected: 1
Water Connected: 1
Septic Tank: 1
Sale Type
As Is: 1
Business/Property
Laundry Facilities: 1
Floors in Unit/Home
One: 1
Income Producing
Annual Gross Income: 294000
Expenses: 50000
Net Operating Income: 244000
Cap Rate: 16.2
Property Type: Multi-Family
Offering Type
Sale Only: 1
Mobile Home Park
# of Pads: 20
Vacancy Rate: 1
Scheduled Income: 294000
Actual Gross Income: 294000
Expenses: 50000
Net Operating Income: 244000
Cap Rate: 16.2
Pricing Type
Sale Price: 1
Transport. Access
Paved: 1
Private: 1
Property Features
Financing: Cash; Conventional
Offering Type: Sale Only
Pricing Type: Sale Price
Sale Type: As Is
Utilities: Electricity – Connected; Water Connected; Septic Tank
Listing Office:
Portfolio Property Manangement Group LLC DBA Dunn Realty At Panama City
Last Updated: October – 04 – 2024
Broker Attribution:
850-588-8816
Information deemed reliable but not guaranteed.