Coastal Vibes Luxury Group

5802 E Highway 22

Panama City , FL 32404

MLS#: 740921

$1,800,000

Status: Closed
Listing number: 740921
Listing provided by: Coldwell Banker Realty
Listing agent phone: None
Last update: a month ago
On site: 2 years ago
Browse Properties
[No Recorded Subdiv] - Commercial Sale

Property

Beds

None

Full Baths

None

1/2 Baths

None

Year Built

1971

Sq.Footage

N/A

Here is your opportunity to purchase a 15 unit multifamily apartment complex with commercial road frontage property. This listing consists of two parcels of property. The Hwy 22 road frontage parcel is Parcel ID # 06086-010-000 which consists of .46 acre of vacant road frontage land. The second parcel is Parcel ID # 06086-000-000 which consists of 1.58 acres of land and holds 15 two bedroom one bath residential apartment units. There are currently 3 duplexes and 3 triplexes on this parcel. There are currently 7 occupied units at $1,100 per unit per month. There are several units that are in need of remodel (see photos.) At full occupancy, gross income would be $16,500 per month or higher with potential to rebuild several more units. Prior to Hurricane Michael, there were several more units on road frontage parcel. Slabs are still in place which would give potential Buyer more space for more units to be built. This property is just around the corner from Super Walmart, Starbucks, restaurants, shopping and a very short drive to Tyndall Air Force Base.

Features & Amenities

Interior

  • Total Bedrooms

    N/A

  • Bathrooms

    N/A

  • Cooling YN

    YES

  • Cooling

    Ceiling Fan(s)

  • Heating YN

    YES

  • Heating

    Central, Electric

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Construction Materials

    Brick

  • Parking

    Paved

  • Pool

    No

Area & Lot

  • Lot Size(acres)

    2.05

  • Property Type

    Commercial Sale

Price

  • Sales Price

    $1,800,000

  • Zoning

    City, Resid Multi-Family

  • Sq. Footage

    N/A

  • Price/SqFt

    N/A

HOA

  • Association

    No

School District

  • Elementary School

    Parker

  • Middle School

    Everitt

  • High School

    Rutherford

Property Features

  • Stories

    1

  • Sewer

    Public Sewer

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Location

County

Bay

Elementary School

Parker

Middle School

Everitt

High School

Rutherford

Listing Courtesy of Daryle Burkey , Coldwell Banker Realty

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Agent Kaitlin Palmer

AGENT

Kaitlin Palmer

Call Kaitlin today to schedule a private showing.

(850) 381-2675

Kaitlin@coastalvibeslux.com


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Here is your opportunity to purchase a 15 unit multifamily apartment complex with commercial road frontage property. This listing consists of two parcels of property. The Hwy 22 road frontage parcel is Parcel ID # 06086-010-000 which consists of .46 acre of vacant road frontage land. The second parcel is Parcel ID # 06086-000-000 which consists of 1.58 acres of land and holds 15 two bedroom one bath residential apartment units. There are currently 3 duplexes and 3 triplexes on this parcel. There are currently 7 occupied units at $1,100 per unit per month. There are several units that are in need of remodel (see photos.) At full occupancy, gross income would be $16,500 per month or higher with potential to rebuild several more units. Prior to Hurricane Michael, there were several more units on road frontage parcel. Slabs are still in place which would give potential Buyer more space for more units to be built. This property is just around the corner from Super Walmart, Starbucks, restaurants, shopping and a very short drive to Tyndall Air Force Base.

5802 E Highway 22

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