$1,130,000
Panama City Beach, FL 32408
MLS# 673171
Status: Sold
2700 sqft
1 / 12
Property Description
Net Leased Investment opportunity with absolute triple-net lease and no Landlord responsibilities. Freestanding medical office building and 100% occupied. New Construction completed in April of 2017. The medical office building is currently leased to Emerald Coast Urgent Care with 14 years remaining on the initial term and personal guarantees from the principals. Net Operating income of $85,400 and and priced at a 6.83% Cap Rate.
Details
Maps
Contract Info
List Price/SqFt: 462.96
List Date: 2018-06-20
List Price: $1,250,000
Current Price: $1,130,000
Sub-Type: Income Producing
Location
Sub Area: 0319 - Beach - East
Community/Resort: None
Waterfront: No
Elementary School: Patronis
Middle School: Surfside
High School: Arnold
Directions: Go south on Thomas Drive and past Magnolia Beach Drive. Property will be on the West side of Thomas Drive just past Orange Plaza Street.
Area: 03 - Bay County - Beach
Street #: 2704
Street Name: THOMAS
Street Suffix: Drive
State: FL
Zip Code: 32408
County: Bay
Subdivision: [No Recorded Subdiv]
Parcel ID: 31070-010-000
Legal Description: TREASURE COVE LOT 1 BLK 13 ORB 351 P 262 ORB 3834 P 356
General Property Info
List Class: Commercial
Acreage: 0.73
Immediate Occupancy: No
Construction Status: Construction Complete
# of Units: 1
SqFt HVAC: 2700
SqFt - Office: 2700
SqFt Tot Bldg: 2700
Year Built: 2017
Listing Info, Tax and Legal
HOA Fee: No
Remarks & Misc
Remarks: Net Leased Investment opportunity with absolute triple-net lease and no Landlord responsibilities. Freestanding medical office building and 100% occupied. New Construction completed in April of 2017. The medical office building is currently leased to Emerald Coast Urgent Care with 14 years remaining on the initial term and personal guarantees from the principals. Net Operating income of $85,400 and and priced at a 6.83% Cap Rate.
Status Change Info
Sold Price/SqFt: 418.52
Sold Price/Acre: 1547945.21
Status: Sold
Under Contract Date: 2018-06-25
Sold Date: 2018-08-10
Sold Price: $1,130,000
Construction/Siding
Brick Veneer: 1
Floor - Concrete: 1
Floor - Tile: 1
Floor - Vinyl: 1
Frame: 1
Roof - Flat: 1
Roof - Membrane: 1
Roof - Sloping: 1
Energy
AC - 2 or More: 1
AC - Central Elect: 1
Financing
Cash: 1
Conventional: 1
Present Zoning
Commercial: 1
County: 1
Utilities
All Utilities: 1
Electricity - Connected: 1
Electric 220/240: 1
Natural Gas - Available: 1
Phone - Connected: 1
Public Sewer - Connected: 1
Water Connected: 1
Sale Type
Accept Backup Offers: 1
As Is: 1
Other - See Remarks: 1
Business Only
Year Built: 2017
Building SqFt: 2700
Net Operating Income: 85400
Business/Property
Freestanding Building: 1
Furnished - None: 1
Handicapped Access: 1
Handicapped Facilities: 1
Kitchen Area: 1
Office Area: 1
Restrooms - Private: 1
Restrooms - Public: 1
Sign: 1
Floors in Unit/Home
One: 1
Heating/Cooling
AC - Central: 1
Income Producing
Year Built: 2017
Building SqFt: 2700
Net Operating Income: 85400
Cap Rate: 6.83
Property Type: Office
Offering Type
Sale Only: 1
Sale with Lease: 1
Other - See Remarks: 1
Site Description
Aerials Available: 1
Corner Location: 1
Level: 1
Transport. Access
5 or More Lanes: 1
Center Turn Lane: 1
County Road: 1
Paved: 1
Property Features
Energy: AC - 2 or More; AC - Central Elect
Financing: Cash; Conventional
Offering Type: Sale Only; Sale with Lease; Other - See Remarks
Present Zoning: Commercial; County
Sale Type: Accept Backup Offers; As Is; Other - See Remarks
Site Description: Aerials Available; Corner Location; Level
Utilities: All Utilities; Electricity - Connected; Electric 220/240; Natural Gas - Available; Phone - Connected; Public Sewer - Connected; Water Connected
Listing Office: Counts Real Estate Group Inc
Last Updated: October - 04 - 2024
Information deemed reliable but not guaranteed.