912-1120 Thomas Drive

    Panama City Beach, FL 32408
    • $5,750,000
    • STATUS: Active
    • ON SITE: 249 days
    • MLS #: 666930
    UPDATED: 36 min ago
    $5,750,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    2008
    County:
    Bay

    School Ratings & Info

    Description

    Coastal Palms Village consists of a 16,219 square feet Retail Stip Center and a 6901 square feet Class A Building. The site consists of +/- 4 acres with 1150' frontage on Thomas Drive, directly across from the Naval Support System. Completed in 2008, it is Class A construction with tremendous upside. The strip center has 10 spaces and is constructed of concrete poured block and steel beam supported ceilings. The roof is tile and one piece member of rubber. It is equipped with a complete fire sprinkler system and is monitored on a 24/7 basis. The 6901 square feet Class A Building has 2 spaces. The complex also has excellent signage on Thomas Drive. Cap Rate is 5.7%. All leases are Triple Net Leases. Tremendous Upside! Tenants include Dunkin Donuts, Rupert's Cleaners, Rose's Nails, The Egg &I Restaurant, Panama City Beach Yoga, Fatty Patty's Restaurant and Cakes, and Fatty's Sandwich. Four Units are Available for Lease in the Strip Center. Other Tenants in the area are: Dick's Wings, Bruster's Ice Cream, Burger King, LaQuinta Hotel and others. SELLER IS OFFERING FINANCING WITH 30% DOWN, PAYMENTS BASED ON 30 YEAR TERM WITH A 10 YEAR CALL. INTEREST RATE 6.5%. IN ADDITION, SELLER WILL ENTERTAIN A 33% PARTNER (DEBT FREE INVESTMENT). Properties are also being Sold individually. See MLS 666936 and 666940 for details of individual tenants.

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    © 2018 Central Panhandle Association of Realtors MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Scenic Sotheby's International Realty. Data last updated: 2018-09-24T15:12:30.597.
    www.scenicsir.com/homes/80040989

    912-1120 Thomas Drive Panama City Beach, FL 32408

    • Price: $5,750,000
    • Status: Active
    • Updated: 36 min ago
    • MLS #: 666930
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    2008
    Built
    Neighborhood:
    Coastal Palms Commercial
    County:
    Bay
    Area:
    Bay County-Beach
    Property Description
    Coastal Palms Village consists of a 16,219 square feet Retail Stip Center and a 6901 square feet Class A Building. The site consists of +/- 4 acres with 1150' frontage on Thomas Drive, directly across from the Naval Support System. Completed in 2008, it is Class A construction with tremendous upside. The strip center has 10 spaces and is constructed of concrete poured block and steel beam supported ceilings. The roof is tile and one piece member of rubber. It is equipped with a complete fire sprinkler system and is monitored on a 24/7 basis. The 6901 square feet Class A Building has 2 spaces. The complex also has excellent signage on Thomas Drive. Cap Rate is 5.7%. All leases are Triple Net Leases. Tremendous Upside! Tenants include Dunkin Donuts, Rupert's Cleaners, Rose's Nails, The Egg &I Restaurant, Panama City Beach Yoga, Fatty Patty's Restaurant and Cakes, and Fatty's Sandwich. Four Units are Available for Lease in the Strip Center. Other Tenants in the area are: Dick's Wings, Bruster's Ice Cream, Burger King, LaQuinta Hotel and others. SELLER IS OFFERING FINANCING WITH 30% DOWN, PAYMENTS BASED ON 30 YEAR TERM WITH A 10 YEAR CALL. INTEREST RATE 6.5%. IN ADDITION, SELLER WILL ENTERTAIN A 33% PARTNER (DEBT FREE INVESTMENT). Properties are also being Sold individually. See MLS 666936 and 666940 for details of individual tenants.
    Exterior Features

    Construction Siding ConcreteFloor - Concrete Construction Status Construction Complete Transport Access 4-Lane

    Interior Features

    Sq Ft Total Building 25447.00

    Property Features

    Commercial Sale Sub Type Other Community Resort None Financing CashConventionalOwner Hoa Fee No List Class Commercial Occupancy Status Occupied Offering Type Sale With Lease Present Zoning General Commercial Pricing Type Sale Price

    Listing provided courtesy of Varnes Realty. Listing information © 2018 Central Panhandle Association of Realtors MLS.


    © 2018 Central Panhandle Association of Realtors MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Scenic Sotheby's International Realty. Data last updated: 2018-09-24T15:12:30.597.
     
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