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116 N Highway 22-A Panama City, FL 32404

  • 14,000 sqft
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Commercial-Active $ 574,900

MLS#: 681067

Courtesy of: Coastal Sun Realty LLC

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Description

Great investment opportunity due to shortage of rentals. This property has 16 units of which 10 are currently rented bringing in over $7000 gross per month. Two units do need some work etc. All units have their own meters etc. Seller expenses are very minimal with around net $80,000 annually. Additional land available to build more units. Corner lot 5007 Cherry Street is also available for sale.

Specifications


    Listing Info, Tax and Legal


  • No

    Construction/Siding


  • 1
  • 1
  • 1

    General Property Info


  • 1102
  • 1.15
  • 16
  • Apartment
  • Construction Complete

Map View

Map View

    • Roof - Composite Shngl
    • Siding - Stucco
    • Foundation - Slab on Grade
    • SqFt Unit : 1102
    • Acreage : 1.15
    • # of Units : 16
    • List Class : Apartment
    • Construction Status : Construction Complete
    • Stories : 1
    • Directions : Go East on Tyndall Parkway and take a right on Cherry Street. Property is in the corner of Cherry Street and Highway 22A.
    • Middle School : Everitt
    • Elementary School : Parker
    • Waterfront : No
    • Sub Area : 0202 - Bay - Central SE
    • High School : Rutherford
    • Community/Resort : None
    • Public Water
    • Public Sewer
    • All Utilities
    • Sale Only
    • Real Estate
    • List Price/SqFt : $41.06
    • Water Heater - Electric
    • AC - Central Elect
    • Heat - Central Electric
    • Conventional
    • Cash
    • Owner
    • Sale Price
    • Net Operating Income : 82540
    • Expenses : 7460
    • Building SqFt : 14000
    • Annual Gross Income : 90000
    • Year Built : 1969
    • Commercial
    • Resid Multi-Family
    • AC - Central
    • Heat - Central Electric
    • Net Operating Income : 82540
    • Year Built : 1969
    • Building SqFt : 14000
    • Actual Gross Income : 90000
    • Unit SqFt : 1100
    • Expenses : 7460
    • Actual Gross Income : 90000
    • # of Units : 12
    • Building SqFt : 14000
    • Expenses : 7460
    • Year Built : 1969
    • Net Operating Income : 82540