208 N Highway 22 A, Panama City, FL 32404
$680,000
Property Type:
Commercial for Sale
Lot Size (sq. ft.):
202,118
Status:
Sold
Current Price:
$680,000
List Date:
9/05/2019
Last Modified:
12/03/2019
Description
HUGE VALUE ADD POTENTIAL! This property offers amazing upside to future buyers. The property features 32 mobile home lots and 9 permanent structure rental units. Presently 8 of the 32 mobile home lots are occupied with tenant owned homes paying $350/month in lot rent (market lot rent is $450/month). 7 of the 9 permanent structures are occupied as well. The property currently generates $6,000/month in revenue. All mobile home lots and structures are separately metered with city utilities paid for by the tenants. By filling the empty mobile home lots and repairing the 2 remaining structures the next owner has potential to more than double the property's value. Property is managed by a third party professional management company at a 5% of gross revenue expense.
More Information MLS# 680352
Contract Info
List Date: 2019-02-15
List Price: $680,000
Current Price: $609,375
Sub-Type: Mobile Home Park
Location
Area: 02 - Bay County - Central
Street #: 208
Street Direction: N
Street Name: Highway 22 A
State: FL
Zip Code: 32404
County: Bay
Sub Area: 0202 - Bay - Central SE
Subdivision: No Named Subdivision
Community/Resort: None
Waterfront: No
Parcel ID: 24307-000-000
Elementary School: Parker
Middle School: Everitt
High School: Rutherford
Directions: Traveling north on Tyndall Parkway, left on to Cherry Street, right on to Highway 22 A, property is on the right.
Legal Description: 12 4S 14W -1- ST AND BAY DEV CO PLAT COM AT SE COR LOT 84 TH W 30' TO W R/W SIMS AV FOR POB TH S 340.40' TO FENCE W 471.21' N 160.14' W 118.96' TO E R/W BOB LITTLE RD N 173.94' TO FENCE E 280.92' N 65.42' E 310.26' TO W R/W SIMS AV S 57' TO POB BEING PART OF LOTS 84 & 93 ORB 3475 P 1255
General Property Info
List Class: RV/Mobile Park
Construction Status: Construction Complete
Acreage: 4.64
Year Built: 1952
Status Change Info
Status: Sold
Under Contract Date: 2019-09-26
Sold Date: 2019-10-25
Sold Price: $609,375
Sold Price/Acre: 131330.82
Property Features
Financing: Conventional
Listing Office: CENTURY 21 Commander Realty
Last Updated: December - 03 - 2019
Information deemed reliable but not guaranteed.