For Sale 6.42 Acres Beachy Beach Real Estate 17500 Pcb Pkwy Panama City Beach FL 32413
LOCATION MAP
INVESTMENT PROFILE Property Details Building Status: Occupied 100% Bldg Size 1: 29,387 sqft Bldg Size 2: 29,387 sqft Bldg Size 3: 3400 sqft Year Built 1992, 1992, 2004 Year Renovated: 2011 Zoning: High Intensity Acres: 6.42 Exterior Metal/Stucco Interior Finished Dry Wall Roof Metal Income & Expenses Gross Annual Operating Income $302,232 Gross Monthly Operating Income $25,186 Purchase Information Property Type Commercial / Industrial Purchase Price 3,750,000 Tenants 11 Total Rentable Sqft 62,174
PROPERTY DESCRIPTION High Lights Central Panama City Beach Easy in and out High Visibility Growth Potential 100% Occupancy Directions The site is located on the north side of Hutchison Boulevard (a/k/a ''Middle Beach Road''), between Alf Coleman Road to the west and Richard Jackson Boulevard to the east. 6.42 Acres, 100% Occupied The Buildings There are two identical sized steal frame buildings and a free standing 3400 sqft wood frame stucco building for a total of 3 buildings on the property. All of them have central heating and air, water and electrical. The Lot Is centrally located 2 parcels in the heart of growing Panama City Beach FL. Prime real estate with great visibility. The FDOT Florida Traffic Online gives a approx 8000 daily avg for Hutchinson blvd. There will be even more visibility with the new 21 acre single family home development currently underway just.25 miles south of this property. Zoned Zoned: C2, Commercial High Intensity, he purpose of the high-intensity commercial zone is to encourage major development in the city s central business district. The lot does have access to a ready made run off system and lift station that access city sewer. The entire property is in a flood zone X which is the best flood zone rating in Florida which translates to high and dry and should not require any flood policy by a lender. Property Growth Potential Property Growth Potential: The growth potential can not be overstated with this property. Either with an investment or with a development scope the property has a vast amount of potential. There is room to add more tenants on both the north and the south side of the property or could be re-purposed to fit a new development mind set due to the superior location
PROPERTY PHOTOS Gym Front Gym Whole Building Salon Room To Grow
PROPERTY PHOTOS
DEMOGRAPHICS Characteristics Population Characteristic 1 Mile 3 Mile 5 Mile Ages 0-4 49 675 1,368 Ages 5-9 65 836 1,654 Ages 10-14 60 698 1,439 Ages 15-19 58 599 1,335 Ages 20-24 56 630 1,406 Ages 25-29 57 670 1,493 Ages 30-34 57 682 1,519 Ages 35-39 64 706 1,600 Ages 40-44 77 751 1,750 Ages 45-49 90 850 1,949 Ages 50-54 97 874 2,009 Ages 55-59 98 861 1,959 Ages 60-64 79 780 1,720 Ages 65-69 63 676 1,435 Ages 70-74 47 621 1,242 Ages 75-79 38 519 983 Ages 80-84 21 376 674 Characteristic Housing 1 Mile 3 Mile Housing Units 756 13,525 Occupied Housing Units 512 5,284 Owner Occupied Housing Units 285 2,672 Renter Occupied Housing Units 227 2,612 Vacant Housing Units 244 8,241
DEMOGRAPHICS Median Income Household Income 1 Mile 3 Mile 5 Mile Median Income $47,000 $49,205 $53,197 Less than $10,000 16 324 507 $10,000 -$14,999 N/A 98 418 $15,000 - $19,999 40 241 670 $20,000 -$24,999 21 210 527 $25,000 - $29,999 18 249 594 $30,000 - $34,999 47 414 809 $35,000 - $39,999 66 432 849 $40,000 - $44,999 21 399 652 $45,000 - $49,999 102 544 671 $50,000 - $59,999 28 373 1,009 $60,000 - $74,999 29 680 1,418 $75,000 - $99,999 32 489 1,254 $100,000 - $124,999 32 454 1,052 $125,000 - $149,999 N/A 190 467 $150,000 - $199,999 N/A 170 478 Greater than $200,000 17 88 192 Housing 1 Mile 3 Mile 5 Mile Housing Units 756 13,525 25,213 Occupied Units 512 5,284 11,442 Owner Occupied Units 285 2,672 6,130 Renter Occupied Units 227 2,612 5,312 Vacant Units 244 8,241 13,771
AERIAL VIEW
LEASE RENT ROLL Unit Tenant Lease Length Monthly Increase Number of Options Year of Increase Deposit 72 Tenant 2 Year $967.50 0 None None 0 69 Tenant 2 year $1,182.50 0 None None 1000 74 Tenant 3 year $940.67 3% None None 850 75 Tenant 2 year $863.00 0 None None 800 71 Tenant 6 Year $1,011.00 5% 2 year at year 4 950 Tenant 3 year $1,123.50 0 None None 0 58/59 Tenant 5 year $1,900.00 5% 2 at year 5 and 6 1500 76 Tenant 3 year $400.00 0 none none 0 Tenant 3 Year $967.50 5% 2 3 year 900 73 Tenant 2 Year $967.50 0 none none 850 Tenant 3 year $12,100.00 0 1 2 year/ 5 year 0 $2,763.00 Total Monthly $25,186.17