$4,700,000
Panama City, FL 32405
MLS# 699626
Status: Sold
29428 sqft
1 / 17
Property Description
Baldwin Place is a prime office strip center, centrally located in Panama City. The Center maintains high occupancy rates and long-term tenants. 100% Occupied. Long-term tenants. $446,109 Net Operating Income. 9.5% Cap Rate! Located at the northwest corner of Highway 77 and Baldwin Road (Adjacent to Centennial Bank). Signalized intersection at Baldwin Road and Highway 77 along with an additional median-cut and deceleration lane on Highway 77. Detailed Financials, Rent Roll and Tenant data available upon request and receipt of a confidentiality agreement. Priced to sell quickly.
Details
Maps
Contract Info
List Price/SqFt: 159.71
List Date: 2020-07-01
List Price: $4,700,000
Current Price: $4,700,000
Sub-Type: Income Producing
Location
Sub Area: 0204 - Bay - Central NW
Community/Resort: None
Waterfront: No
Business Name: BALDWIN PLACE
Elementary School: Hiland Park
Middle School: Mowat
High School: Mosley
Section: 28
Directions: Baldwin Place is located at the northwest corner of Highway 77 and Baldwin Road. Between Centennial Bank and CarQuest Autoparts. Haney Vocational School is located across the street on the east-side of Highway 77.
Township: 3S
Range: 14w
Area: 02 - Bay County - Central
Street #: 3009
Street Name: Highway 77
State: FL
Zip Code: 32405
County: Bay
Subdivision: No Named Subdivision
Parcel ID: 12859-010-000
Legal Description: 28 3S 14W -3.1- 104B ST AND BAY DEV CO PLAT BEG AT INTERSECT OF N LINE OF LOT 5 & W R/W OF SR# 77 S 459.77' W 302.49' N 459.77' E 302.04' TO POB ORB 2409 P 1639
General Property Info
List Class: Commercial
Site Dimensions: 302 x 460
Acreage: 3.2
Immediate Occupancy: No
Possession Date: Not applicable
Construction Status: Construction Complete
SqFt HVAC: 26994
SqFt Retail: 26994
SqFt - Workarea: 26994
SqFt - Office: 26994
# of Stories in Building: 1
Frontage Ft: 302
SqFt Tot Bldg: 29428
Lot Depth: 460
Lot SqFt: 138920
Year Built: 2006
Listing Info, Tax and Legal
HOA Fee: No
Remarks & Misc
Remarks: Baldwin Place is a prime office strip center, centrally located in Panama City. The Center maintains high occupancy rates and long-term tenants. 100% Occupied. Long-term tenants. $446,109 Net Operating Income. 9.5% Cap Rate!
Located at the northwest corner of Highway 77 and Baldwin Road (Adjacent to Centennial Bank). Signalized intersection at Baldwin Road and Highway 77 along with an additional median-cut and deceleration lane on Highway 77. Detailed Financials, Rent Roll and Tenant data available upon request and receipt of a confidentiality agreement.
Priced to sell quickly.
Status Change Info
Sold Price/SqFt: 159.71
Sold Price/Acre: 1468750
Status: Sold
Under Contract Date: 2020-09-15
Sold Date: 2020-12-18
Sold Price: $4,700,000
Construction/Siding
Clear Span: 1
Concrete: 1
Floor - Concrete: 1
Floor - Tile: 1
Floor - Vinyl: 1
Floor - W/W Carpet: 1
Foundation - Slab on Grade: 1
Steel/Frame: 1
Roof - Metal: 1
Roof - Sloping: 1
Siding - Metal: 1
Siding - Stucco: 1
Energy
AC - 2 or More: 1
AC - Central Elect: 1
AC - High Efficiency: 1
Heat - High Efficiency: 1
Water Heater - Electric: 1
Financing
Cash: 1
Conventional: 1
Present Zoning
City: 1
Commercial: 1
Utilities
All Utilities: 1
Electric 220/240: 1
Public Sewer - Connected: 1
Water Connected: 1
Sale Type
As Is: 1
Floors in Unit/Home
One: 1
Heating/Cooling
AC - Central: 1
AC - Entire: 1
AC - HVAC: 1
Heat - Central Electric: 1
Heat - HVAC: 1
Income Producing
Year Built: 2006
Net Operating Income: 435650
Cap Rate: 9.5
Property Type: Office
Offering Type
Real Estate: 1
Sale with Lease: 1
Site Description
Aerials Available: 1
Easement(s): 1
Transport. Access
City Road: 1
Divided Highway: 1
Median Cut: 1
Paved: 1
Property Features
Energy: AC - 2 or More; AC - Central Elect; AC - High Efficiency; Heat - High Efficiency; Water Heater - Electric
Financing: Cash; Conventional
Offering Type: Real Estate; Sale with Lease
Present Zoning: Commercial
Sale Type: As Is
Site Description: Aerials Available; Easement(s)
Utilities: All Utilities; Electric 220/240; Public Sewer - Connected; Water Connected
Listing Office: Counts Real Estate Group Inc
Last Updated: October - 04 - 2024
Information deemed reliable but not guaranteed.