4001 W 23rd Street

    Panama City, FL 32405
    • $4,689,000
    • STATUS: Active
    • ON SITE: 150 days
    • MLS #: 690397
    UPDATED: 61 min ago
    $4,689,000
    • 0
      BEDS
    • 2.78
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    2009
    County:
    Bay

    School Information

    Elementary School:
    Middle School:
    High School:

    Description

    Huge Price Reduction. Seller is motivated. Comcast Building is a unique investment opportunity with tremendous upside and value add potential. This 27,300 sq ft center offers frontage on 23rd St, ample parking, and additional storage in the rear. Offered at 8.45% cap rate based on 2019 NOI of +/- $396,300. Leases are NNN. Comcast occupies approximately 21,400 sq ft and renewed for additional 5 year term in 2019. American Cancer Society occupies 3,900 sq. ft. through the end of March 2020. The remaining space is available for lease at $17/ft NNN. Ideal location near the new flyover providing easy access to both the Panama City Beach and Panama City market. One mile from FSU Panama City campus as well as Gulf State Community College. *Listing agent has ownership interest in the property.

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    © 2020 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: 2020-03-31T15:04:11.983.
    www.rqemeraldcoastrealestate.com/homes/100475655

    4001 W 23rd Street Panama City, FL 32405

    • Price: $4,689,000
    • Status: Active
    • Updated: 61 min ago
    • MLS #: 690397
    0
    Beds
    0
    Baths
    0
    ½ Baths
    2.78
    Acres
    2009
    Built
    Neighborhood:
    [No Recorded Subdiv]
    County:
    Bay
    Area:
    Bay County-Central
    Elementary School:
    Lucille Moore
    Middle School:
    Jinks
    High School:
    Income Producing
    Property Description
    Huge Price Reduction. Seller is motivated. Comcast Building is a unique investment opportunity with tremendous upside and value add potential. This 27,300 sq ft center offers frontage on 23rd St, ample parking, and additional storage in the rear. Offered at 8.45% cap rate based on 2019 NOI of +/- $396,300. Leases are NNN. Comcast occupies approximately 21,400 sq ft and renewed for additional 5 year term in 2019. American Cancer Society occupies 3,900 sq. ft. through the end of March 2020. The remaining space is available for lease at $17/ft NNN. Ideal location near the new flyover providing easy access to both the Panama City Beach and Panama City market. One mile from FSU Panama City campus as well as Gulf State Community College. *Listing agent has ownership interest in the property.
    Exterior Features

    Construction Siding Floor - ConcreteSiding - StuccoSteel/Frame Construction Status Construction Complete

    Interior Features

    Sq Ft Total Building 27300.00

    Property Features

    Commercial Sale Sub Type Bay Community Resort None Financing CashConventional Hoa Fee No List Class Commercial Occupancy Status Occupied Present Zoning Commercial Sale Type As Is Utilities All Utilities

    Listing provided courtesy of Counts Real Estate Group Inc. Listing information © 2020 Central Panhandle Association of Realtors MLS.


    © 2020 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: 2020-03-31T15:04:11.983.
     
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