Panama City Florida Area Index

Panama City Realty Group

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Panama City Real Estate | Office Location Panama City Realty Group
Keller Williams Success Realty
309 Richard Jackson Blvd., Suite 200
Panama City Beach, Florida 32407
Phone: (850) 774-6582

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$3,800,000 - 912-948 Thomas Drive, Panama City Beach

-
Bedrooms
-
Baths
17,960
SQ. Feet
1.82
Acres

The Coastal Palms Village Strip Center is a Class A, Retail/Office, 16,219 square feet building with tremendous upside. The strip center 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 complex also has ample parking and excellent signage on Thomas Drive. The strip center consists of 10 units with various square footage. Currently 60% of space is occupied. Tenants include Dunkin Donuts, Rupert Cleaners, Fatty's Sandwich Shop, Fatty Patty's Restaurant and Bakery, and Rose Nails. Four spaces are Available with 2 previously rented. Vacant vanilla spaces are complete with plumbing stub out, HVAC in place, and electricrun to the space. Dunkin Donut unit is equipped with a Drive Up Window. Coastal Palms Village is located on Thomas Drive directly across from the Naval Support System. Thomas Drive is the main tourist artery that serves the beaches. Other retail in the area include Burger King, Egg & I, PC Beach Yoga, as well as LaQuinta Hotel. Current Cap Rate 4.2 at 60% occupancy. All leases are Triple Net Leases. TREMENDOUS UPSIDE!! SELLER IS OFFERING FINANCING WITH 30% DOWN, PAYMENTS BASED ON A 30 YEAR TERM WITH A 10 YEAR CALL. INTEREST RATE AT 6.5%

Essential Information

  • MLS® #:
    420394
  • Price:
    $3,800,000
  • Square Footage:
    17,960
  • Price/SqFt:
    $212
  • Acres:
    1.82
  • Year Built:
    2008
  • Type:
    Commercial Sales
  • Sub-Type:
    Other
  • Style:
    Commercial
  • Status:
    Active

Community Information

  • Address:
    912-948 Thomas Drive
  • Area:
    BB-Bay County-Beach
  • Subdivision:
    Coastal Palms Commercial
  • Avg Price in Coastal Palms Commercial:
    $1,718,759
  • City:
    Panama City Beach
  • County:
    Bay
  • State:
    FL
  • Zip Code:
    32408

Amenities

  • Utilities:
    Electric On Site, Public Sewer, Public Water

Interior

  • Heating:
    AC - HVAC, Heat - HVAC
  • # of Stories:
    1

Exterior

  • Lot Description:
    Cleared, Interior Location, Landscaped, Level, Survey, Site - Strip Mall

School Information

  • Elementary:
    Patronis
  • Middle:
    Surfside
  • High:
    Arnold

Additional Information

  • Date Listed:
    September 16th, 2011
  • Days on Website:
    2078
  • HOA:
    $0

Listing Details

  • Listing Office:
    Rainer Properties Inc

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MLS# 420394 : This Commercial Sales property is located at 912-948 Thomas Drive, Panama City Beach FL - 32408 in the community of Coastal Palms Commercial and has bedrooms and bathrooms. It has been on the market for 2078 days... Contact me today 850.774.6582 If you would like to a private showing of this property.

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DISCLAIMER: 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 Source: Bay County Association Of REALTORS® Multiple Listing Service

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