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2505 15th Street, Panama City 32401 (Active)

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Listing Information

Property Type: Commercial Sale
MLS #: 900765 Price: $4,950,000.00 Year Built: 1996
Square Feet: 27313 Bedrooms: Not available Bathrooms: Not available
HOA Fees: Not available Lot Size: 2.92 acres Lot Dimensions: 271 W X 447 D

Subdivision: Not available

Description:

Institutional Investment Property 100% Occupied with long tenant history. The subject property has been occupied by the State of Florida`s Department of Children and Families and Department of Education since 2011 and 2014 respectively, along with ``National Coating Systems, Inc, who`s lease began in 2018 and has a 5 Year Renewal beginning July 1, 2023 through June 2028.The net operating income for (YTD) 2021 was $345,000, and projected NOI for 2022 /23 is projected will reach $354,483.00.

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Features

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Commercial Features

  
Income-Producing Year Built: 1996 Income-Producing Building Square Footage: 27313
Income-Producing Price/Square Foot: 181.23 Income-Producing Annual Gross Income: 480246 Income-Producing Expenses: 125604
Income-Producing Net Operating Income: 354483 Income-Producing Cap Rate: 7
Income-Producing Property Type: OfficeOffice Year Built: 1996 Office Building Square Footage: 27313 Office Unit Square Footage: 22758
Office Price/Square Foot: 181.23 Office Vacancy Rate: 0 Office Scheduled Income: 480246 Office Actual Gross Income: 480246 Office Expenses: 125604
Office Net Operating Income: 354893 Office Cap Rate: 7
Office Property Type: Low Rise Office Number of Units: 3

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This listing provided courtesy of NBI Properties Inc.
This information was last updated on 11/29/2022 11:05:18 PM.

All information in this listing is approximate. Buyers are expected to verify any specific information prior to signing any contract. Neither Brandon Jordan, ERA American Real Estate, ECAR, nor any other Realtor is liable for any inaccuracies herein.
All listings are provided courtesy of the Emerald Coast Association of Realtors, copyright 2022. All rights reserved.


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