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Candi & Brad

[email protected] +1(850) 919-2299

$ 1,800,000

Est. payment -/mo

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5802 E Highway 22 Panama City, FL 32404

2.05 Acres Lot

UPDATED:

10/04/2024 02:51 AM

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Subdivision [No Recorded Subdiv]

MLS Listing ID 740921

HOA Y/N No

Year Built 1971

Lot Size 2.050 Acres

Acres 2.05

Property Description

Here is your opportunity to purchase a 15 unit multifamily apartment complex with commercial road frontage property. This listing consists of two parcels of property. The Hwy 22 road frontage parcel is Parcel ID # 06086-010-000 which consists of .46 acre of vacant road frontage land. The second parcel is Parcel ID # 06086-000-000 which consists of 1.58 acres of land and holds 15 two bedroom one bath residential apartment units. There are currently 3 duplexes and 3 triplexes on this parcel. There are currently 7 occupied units at $1,100 per unit per month. There are several units that are in need of remodel (see photos.) At full occupancy, gross income would be $16,500 per month or higher with potential to rebuild several more units. Prior to Hurricane Michael, there were several more units on road frontage parcel. Slabs are still in place which would give potential Buyer more space for more units to be built. This property is just around the corner from Super Walmart, Starbucks, restaurants, shopping and a very short drive to Tyndall Air Force Base.

Location

State FL

County Bay

Area 02 - Bay County - Central

Interior

Heating Central, Electric

Cooling Central Air, Ceiling Fan(s), Electric

Flooring Tile

Fireplace No

Appliance Electric Water Heater

Exterior

Utilities Available Cable Available, Electricity Available, Phone Available, Sewer Available, Water Available

Waterfront No

Roof Type Composition,Shingle

Building

Lot Description Interior Lot

Story 1

Entry Level One

Foundation Slab

Sewer Public Sewer

Water Public

Level or Stories One

Schools

Elementary Schools Parker

Middle Schools Everitt

High Schools Rutherford

Others

Tax ID 06086-000-000

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Listed As-Is

Listed by Coldwell Banker Realty

Candi & Brad

Real Estate Advisors | License ID: SL3434249 & SL3156311

+1(850) 919-2299

Candi & Brad

5802 E Highway 22 Panama City, FL 32404

Key Details

Location

Interior

Exterior

Building

Schools

Others

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5802 E Highway 22