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    4001 W 23rd Street

    Panama City, FL 32405
    • $3,985,000
    • STATUS: Active
    • ON SITE: 103 days
    • MLS #: 699406
    UPDATED: 78 min ago
    $3,985,000
    • 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

    Massive Price Reduction. Reduced over $700,000. SELLER IS MOTIVATED. Comcast Building is a unique investment opportunity with tremendous value and upside potential. Prime location with credit tenant offering tremendous value and upside potential. Priced below replacement cost. This 27,300 sq ft. center offers frontage on 23rd St, ample parking, and additional storage in the rear. Leases are NNN. Comcast has occupied 21,400 sq ft. for over 10 years and renewed for an additional 5 years in 2019. Upside includes 3900 sq ft of finished office space offered at $15/ft. Plus an additional 2000 sq ft of raw space adjoining.With vacancies, the 2020 NOI is projected to be approx. $345,000. Simply filling the finished office space pushes NOI to over $400,000/yr. Potential NOI of $446,000 fully occupied. Cap rate 11.2%! SELLER IS MOTIVATED.

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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 Vacasa Real Estate. Data last updated: 2020-10-20T17:04:07.94.
    www.rqemeraldcoastrealestate.com/homes/107637379
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    4001 W 23rd Street Panama City, FL 32405

    • Price: $3,985,000
    • Status: Active
    • Updated: 78 min ago
    • MLS #: 699406
    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
    Massive Price Reduction. Reduced over $700,000. SELLER IS MOTIVATED. Comcast Building is a unique investment opportunity with tremendous value and upside potential. Prime location with credit tenant offering tremendous value and upside potential. Priced below replacement cost. This 27,300 sq ft. center offers frontage on 23rd St, ample parking, and additional storage in the rear. Leases are NNN. Comcast has occupied 21,400 sq ft. for over 10 years and renewed for an additional 5 years in 2019. Upside includes 3900 sq ft of finished office space offered at $15/ft. Plus an additional 2000 sq ft of raw space adjoining.With vacancies, the 2020 NOI is projected to be approx. $345,000. Simply filling the finished office space pushes NOI to over $400,000/yr. Potential NOI of $446,000 fully occupied. Cap rate 11.2%! SELLER IS MOTIVATED.
    Exterior Features

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

    Interior Features

    Sq Ft Total Building 29826.00

    Property Features

    Commercial Features Aaa TenantFreestanding BuildingOffice AreaSign Commercial Sale Sub Type Bay Community Resort None Hoa Fee No List Class Commercial Occupancy Status Occupied Utilities All Maintenance

    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 Vacasa Real Estate. Data last updated: 2020-10-20T17:04:07.94.
     
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