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$ 1,600,000
Est. payment | /mo
0.86 Acres Lot
$ 1,600,000
Est. payment | /mo
0.86 Acres Lot
Key Details
Property Type Commercial
Sub Type Office
Listing Status Pending
Purchase Type For Sale
Subdivision [No Recorded Subdiv]
MLS Listing ID 769692
HOA Y/N No
Year Built 1983
Lot Size 0.860 Acres
Acres 0.86
Property Sub-Type Office
Property Description
Welcome to a lucrative investment opportunity in Panama City, FL. This prime commercial property at 2810 Hwy 77 offers a solid income stream with a favorable cap rate of 7.1%. With an occupied space and annual tenant income of $163,823 this property ensures long-term financial growth.Featuring two buildings (front 5,000 sf & back 6,000 sf) totaling 11,000 sq ft, this property houses thriving tenants including South Oak Title, Think Real Estate, and Mochas & Minis. The combined tenant income of $163,823 annually guarantees a steady cash flow. Strategically located on Hwy 77, this property enjoys excellent visibility and high traffic exposure, with consistent demand for commercial space. Close to amenities and businesses, it leverages the city's economic growth for maximum returns.With a competitive price, solid tenant base, impressive income, and favorable cap rate, this investment property offers exceptional value. Future appreciation enhance its long-term potential.In 2019 both buildings were remodeled with new roofs. Extensive modern buildout was completed for South Oak Title and Think Real Estate. All Ac units are less than 5 years old with (2) 5 ton units replaced in back building in June 2023. Don't miss out on this opportunity to acquire a fully occupied investment property.
Location
State FL
County Bay
Area 02 - Bay County - Central
Interior
Cooling Central Air, Multi Units
Fireplace No
Building
Entry Level One
Level or Stories One
Schools
Elementary Schools Hiland Park
Middle Schools Mowat
High Schools Bay
Others
Tax ID 12865-001-000
Listed by Counts Real Estate Group Inc