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4443 Cato Road, Panama City
Incredible opportunity to purchase a well run business from a retiring landlord. This portfolio consists of 104 mobile home lots, and 10 single family homes spread amongst 4 sites all within 7.5 miles of each other. Properties are managed by the same management company at 5% of gross revenue. Each site was 100% occupied with tenant owned homes prior to Hurricane Michael. Presently 61 of the 104 sites are occupied with tenant owned homes. The majority of the sites have separate water/sewer meters with direct billed utilities to the tenants. Seller's expenses are limited to rubbish pick up, property taxes and property management. Seller does pay for water at 4443 Cato Road. Site locations are 728 S Highway 22 A, 208 N Highway 22 A, 628 N Highway 22 A, and 4443 Cato Road.
- MLS® #680572
- Year Built1984
- TypeCommercial Sales
- Sub-TypeMobile Home Park
- StyleRV/Mobile Park
- UtilitiesOther - See Remarks
- ElementaryTommy Smith
- MiddleMerritt Brown
- Listing OfficeCENTURY 21 Commander Realty Inc
- Address4443 Cato Road
- Area02 - Bay County - Central
- SubdivisionNo Named Subdivision
- CityPanama City
- Zip Code32404
- # of Stories1
- Date ListedFebruary 21st, 2019
- Days on Market148
Price Change History for 4443 Cato Road, Panama City, FL (MLS® #680572)
|Price Reduced (from $3,041,000)||$2,650,000||$391,000 (12.86%)|
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