208 N Highway 22 A

    Panama City, FL 32404
    • $680,000
    • STATUS: Active
    • ON SITE: 217 days
    • MLS #: 680352
    UPDATED: 61 min ago
    $680,000
    • 0
      BEDS
    • 4.64
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    1952
    County:
    Bay

    School Ratings & Info

    Description

    HUGE VALUE ADD POTENTIAL! This property offers amazing upside to future buyers. The property features 32 mobile home lots and 9 permanent structure rental units. Presently 8 of the 32 mobile home lots are occupied with tenant owned homes paying $350/month in lot rent (market lot rent is $450/month). 7 of the 9 permanent structures are occupied as well. The property currently generates $6,000/month in revenue. All mobile home lots and structures are separately metered with city utilities paid for by the tenants. By filling the empty mobile home lots and repairing the 2 remaining structures the next owner has potential to more than double the property's value. Property is managed by a third party professional management company at a 5% of gross revenue expense.

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    © 2019 Central Panhandle Association of Realtors MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or ResortQuest Real Estate. Data last updated: 2019-09-21T18:16:54.303.
    www.rqemeraldcoastrealestate.com/homes/91847918

    208 N Highway 22 A Panama City, FL 32404

    • Price: $680,000
    • Status: Active
    • Updated: 61 min ago
    • MLS #: 680352
    0
    Beds
    0
    Baths
    0
    ½ Baths
    4.64
    Acres
    1952
    Built
    Neighborhood:
    No Named Subdivision
    County:
    Bay
    Area:
    Bay County-Central
    Property Description
    HUGE VALUE ADD POTENTIAL! This property offers amazing upside to future buyers. The property features 32 mobile home lots and 9 permanent structure rental units. Presently 8 of the 32 mobile home lots are occupied with tenant owned homes paying $350/month in lot rent (market lot rent is $450/month). 7 of the 9 permanent structures are occupied as well. The property currently generates $6,000/month in revenue. All mobile home lots and structures are separately metered with city utilities paid for by the tenants. By filling the empty mobile home lots and repairing the 2 remaining structures the next owner has potential to more than double the property's value. Property is managed by a third party professional management company at a 5% of gross revenue expense.
    Exterior Features

    Construction Status Construction Complete

    Interior Features

    Sq Ft Total Building 0.00

    Property Features

    Commercial Sale Sub Type Mobile Home Park Community Resort None Financing Conventional Hoa Fee No List Class Rv/Mobile Park Occupancy Status Occupied

    Listing provided courtesy of Century 21 Commander Realty Inc. Listing information © 2019 Central Panhandle Association of Realtors MLS.


    © 2019 Central Panhandle Association of Realtors MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or ResortQuest Real Estate. Data last updated: 2019-09-21T18:16:54.303.
     
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