Hi There! Is this Your First Time?
Did you know if you Register you have access to free search tools including the ability to save listings and property searches? Did you know that you can bypass the search altogether and have listings sent directly to your email address? Check out our how-to page for more info.
$5,750,000 - 912-1120 Thomas Dr, Panama City Beach
- SQ. Feet
Coastal Palms Village consists of a Retail Stip Center (16219 sf), 6901 SF Class A Building consisting of Egg & I Restaurant, 4985 sf and Freedom Sports (1916 sf). 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 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 excellent signage on Thomas Drive. Rents have been adjusted for the current market conditions. Actual Cap Rate is 2.5 with a projected Cap Rate of 6.1. Prior to Market adjustment, Actual Cap Rate was 8.2 with 9.5 Projected. Tremendous Upside! SELLER IS OFFERING FINANCING WITH 30% DOWN, PAYMENTS BASED ON 30 YEAR TERM WITH A 10 YEAR CALL. INTEREST RATE AT MARKET RATE. IN ADDITION, SELLER WILL ENTERTAIN A 33% PARTNER (DEBT FREE INVESTMENT). Properties are also being Sold individually. See MLS 420394 and 420396 for details of individual tenants.
- MLS® #:
- Square Footage:
- Year Built:
- Commercial Sales
- Improved Commercial
- 912-1120 Thomas Dr
- BB-Bay County-Beach
- COASTAL PALMS COMMERCIAL
- Avg Price in COASTAL PALMS COMMERCIAL:
- Panama City Beach
- Zip Code:
- Electric On Site, Public Sewer, Public Water
- Lot Description:
- Cleared, Interior Location, Landscaped, Level, Site-Strip Mall, Survey
- Date Listed:
- September 16th, 2011
- Listing Office:
- Rainier Properties, Inc.
Get Local Information
Disclaimer / Sources: MLS® local resources application developed and powered by Real Estate Webmasters - Neighborhood data provided by Onboard Informatics © 2013 - Mapping Technologies powered by Google Maps™
Blog Posts You Might Be Interested In...
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