3309 Frankford Avenue, A-D, Panama City, FL 32405 (MLS# 733668)

INCOME PRODUCING COMMERCIAL REAL ESTATE ! This property is perfect for a 1031 exchange buyer! This property is Centrally located in the heart of Panama City on Frankford ave. The building sits on 1.25 acres and has of plenty of parking. The building has 2 long term credit tenants Sea School & Fla Agency for persons with disabilities. APD occupies units A & C and their space is 3315 sq ft. APD is in year two of a 7 year lease with options to renew for an additional 7 years with built-in rent increases. Sea School occupies units B & D and their space is 3052 Sq ft. They are on the first of their 5 year lease with an additional 5 years with built in rent increases. All of the roofing, electrical , HVAC, plumbing, irrigation pump are all brand new.

Supplements: The buildings current zoning and brand new parking capacity would allow for an additional 3,300 sq ft building to be built on the south east of the existing building with a simple submittal of architectural documents and would not require any exceptions or conditions other than meeting Panama City Standard building codes. This property is offered at a 6.75 CAP rate. Your only limitation is your imagination.