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  • Price$3,800,000
  • SQ. Feet17,960
  • Built2008

912-948 Thomas Drive, Panama City Beach

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%. ADDITIONAL PROPERTY AVAILABLE SEE MLS 666940 AND 666930

Essential Information

  • MLS® #666936
  • Price$3,800,000
  • Square Footage17,960
  • Acres0.00
  • Year Built2008
  • TypeCommercial Sales
  • Sub-TypeIncome Producing
  • StyleOther
  • StatusActive

Interior

  • # of Stories1

Additional Information

  • Date ListedJanuary 17th, 2018
  • Days on Market93
  • ZoningGeneral Commercial
  • HOA$0

Community Information

  • Address912-948 Thomas Drive
  • AreaBB-Bay County-Beach
  • SubdivisionCoastal Palms Commercial
  • CityPanama City Beach
  • CountyBay
  • StateFL
  • Zip Code32408

School Information

  • ElementaryPatronis
  • MiddleSurfside
  • HighArnold

Listing Details

  • Listing OfficeVarnes Realty
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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