$715,000
$750,000
4.7%For more information regarding the value of a property, please contact us for a free consultation.
1312 Thomas DR Panama City Beach, FL 32408
6,300 SqFt
Key Details
Sold Price $715,000
Property Type Commercial
Sub Type Office
Listing Status Sold
Purchase Type For Sale
Square Footage 6,300 sqft
Price per Sqft $113
Subdivision No Named Subdivision
MLS Listing ID 729753
Sold Date 10/07/22
HOA Y/N No
Year Built 1983
Lot Size 0.600 Acres
Acres 0.6
Property Description
100% occupied Income Property for Sale. 1312 and 1314 Thomas Drive is comprised of two Office/Retail buildings with one at 2.400 SF and the other at 1,020 SF along with a Conditioned 2,880 SF warehouse, the subject property is centrally located across from the Navy Base and near the entrance to Patronis Elementary School. Well Round Cleaning and Staffing occupies the 2,400 SF building under a newly signed 5 year lease with escalations. The Seller as Aqua Pros Water Systems will lease back the 1,020 SF office building and 2,880 SF warehouse for up to 2 years. Current NOI $79,000. CAP Rate of 10.5%.
Location
State FL
County Bay
Area 03 - Bay County - Beach
Interior
Cooling Central Air, Electric
Fireplace No
Exterior
Utilities Available Sewer Available, Water Available
Waterfront No
Building
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
Schools
Elementary Schools Patronis
Middle Schools Surfside
High Schools Arnold
Others
Tax ID 30158-020-000
Financing Cash
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Bought with NAI TALCOR