9502 CLARENCE Street, Panama City Beach, FL 32407 (MLS# 691672)

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: $1,250,000 List Date: 6/22/2020 Last Modified: 10/04/2024

Overview

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

Listing Details MLS# 691672

Contract Info

List Price/SqFt: 696.06
Sub-Type: Mobile Home Park

Location

Area: 03 – Bay County – Beach
Street #: 9502
Street Name: CLARENCE
Street Suffix: Street
State: FL
Zip Code: 32407
County: Bay
Sub Area: 0320 – Beach – Middle Central
Subdivision: No Named Subdivision
Community/Resort: None
Waterfront: No
Parcel ID: 27575-000-000
Section: 31
Range: 15w
Elementary School: Hutchison Beach
Middle School: Surfside
High School: Arnold
Directions: Front Beach to Moylan, turn north, take left on Clarence, park is on the right
Legal Description: metes and bounds

General Property Info

List Class: RV/Mobile Park
Immediate Occupancy: No
Construction Status: Construction Complete
# of Units: 20
Acreage: 3.84
SqFt Tot Bldg: 2155
Year Built: 1974

Status Change Info

Under Contract Date: 2020-06-22
Sold Date: 2020-06-30
Sold Price/SqFt: 580.05
Sold Price/Acre: 325520.83

Income Producing

Annual Gross Income: 294000
Expenses: 50000
Net Operating Income: 244000
Cap Rate: 16.2

Mobile Home Park

# of Pads: 20
Vacancy Rate: Yes
Scheduled Income: 294000
Actual Gross Income: 294000
Expenses: 50000
Net Operating Income: 244000
Cap Rate: 16.2

More Information

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

Financing

Cash: Yes
Conventional: Yes

Association Amenities

Laundry: Yes

Utilities

Electricity – Connected: Yes
Water Connected: Yes
Septic Tank: Yes

Sale Type

As Is: Yes

Business/Property

Laundry Facilities: Yes

Floors in Unit/Home

One: Yes

Offering Type

Sale Only: Yes

Pricing Type

Sale Price: Yes

Transport. Access

Paved: Yes
Private: Yes

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.