$1,220,000
Panama City Beach, FL 32408
MLS# 754973
Status: Sold
10612 sqft
1 / 44
Property Description
Zoned C1 Bay County. Practically Brand New Commercial Investment situated in the bustling heart of Panama City Beach right across from the worlds most beautiful beaches now boasts 111 BRAND NEW Storage Units meticulously constructed with Spray Foam insulation. Commercial Space 100% Occupied at 54k in Gross Income, and Storage Units 100% Vacant awaiting a New Owner to fill them up. Expected Income on Storage Units at 100% Occupancy 90k a Year. Offering a blend of Indoor Climate Controlled Units, alongside Outdoor units, these spaces are primed for immediate rental, enabling you to tap into a lucrative stream of passive income. Nestled on Thomas Drive, a central location in Panama City Beach, this property includes two recently renovated Offices, ideal for accommodating your next tenant or for owner occupancy. With a suite of upgrades including a New Roof, Fresh Siding, Vibrant Paint, Secure Gates, state-of-the-art Storage Units featuring Spray Foam insulation, and a revitalized Landscape complete with a sprinkler system, this property stands as a Turn Key investment opportunity. This exceptional property seamlessly integrates practical design with operational efficiency. With ample parking space for 11 vehicles and a flexible layout housing 111 storage units alongside two fully functional commercial offices, this property caters to individuals with a discerning business acumen. Moreover, the potential of this commercial complex extends beyond its current offerings. Envision tailoring the property's features to suit your specific needs, whether it entails reconfiguring office spaces to align with your business model or capitalizing on the rental potential of the available storage units.
Details
Maps
Contract Info
List Price/SqFt: 141.26
List Date: 2024-03-29
List Price: $1,499,000
Current Price: $1,220,000
Sub-Type: Other
Location
Sub Area: 0323 - Beach - South of Grand Lagoon
Community/Resort: None
Waterfront: No
Elementary School: Patronis
Middle School: Surfside
High School: Arnold
Directions: Traveling South on Thomas Dr from 98. continue over the bridge after North lagoon intersection, at the next light make a right to stay on Thomas Dr in 1.1 Miles the property will be on the right.
Area: 03 - Bay County - Beach
Street #: 6126
Street Name: Thomas
Street Suffix: Drive
State: FL
Zip Code: 32408
County: Bay
Subdivision: Crescent Beach Unit 1
Parcel ID: 30875-000-000
Legal Description: CRESCENT BEACH UNIT #1 LOTS 3, 4, 5, 16, 17 & 18 BLK 15 ORB 4346 P 1185
General Property Info
List Class: Commercial
Acreage: 0.76
Construction Status: Construction Complete
SqFt Tot Bldg: 10612
Year Built: 1997
Listing Info, Tax and Legal
HOA Fee: No
Remarks & Misc
Remarks: Zoned C1 Bay County. Practically Brand New Commercial Investment situated in the bustling heart of Panama City Beach right across from the worlds most beautiful beaches now boasts 111 BRAND NEW Storage Units meticulously constructed with Spray Foam insulation. Commercial Space 100% Occupied at 54k in Gross Income, and Storage Units 100% Vacant awaiting a New Owner to fill them up. Expected Income on Storage Units at 100% Occupancy 90k a Year. Offering a blend of Indoor Climate Controlled Units, alongside Outdoor units, these spaces are primed for immediate rental, enabling you to tap into a lucrative stream of passive income. Nestled on Thomas Drive, a central location in Panama City Beach, this property includes two recently renovated Offices, ideal for accommodating your next tenant or for owner occupancy. With a suite of upgrades including a New Roof, Fresh Siding, Vibrant Paint, Secure Gates, state-of-the-art Storage Units featuring Spray Foam insulation, and a revitalized Landscape complete with a sprinkler system, this property stands as a Turn Key investment opportunity.
This exceptional property seamlessly integrates practical design with operational efficiency. With ample parking space for 11 vehicles and a flexible layout housing 111 storage units alongside two fully functional commercial offices, this property caters to individuals with a discerning business acumen.
Moreover, the potential of this commercial complex extends beyond its current offerings. Envision tailoring the property's features to suit your specific needs, whether it entails reconfiguring office spaces to align with your business model or capitalizing on the rental potential of the available storage units.
Office/Member Info
Seller Concessioins: No
Status Change Info
Sold Price/SqFt: 114.96
Sold Price/Acre: 1605263.16
Status: Sold
Under Contract Date: 2025-02-27
Sold Date: 2025-03-31
Sold Price: $1,220,000
Construction/Siding
Roof - Metal: 1
Siding - Stucco: 1
Energy
AC - Central Elect: 1
Other Structures
Storage: 1
Present Zoning
Commercial: 1
Utilities
Public Sewer - Connected: 1
Water Connected: 1
Floors in Unit/Home
One: 1
Heating/Cooling
AC - Central: 1
Heat - Central Electric: 1
Transport. Access
4-Lane: 1
City Road: 1
Paved: 1
Property Features
Energy: AC - Central Elect
Other Structures: Storage
Present Zoning: Commercial
Utilities: Public Sewer - Connected; Water Connected
Listing Office: Think Real Estate
Last Updated: March - 31 - 2025
Information deemed reliable but not guaranteed.