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Browse More Listings in Office For Sale, Panama City, FL or Florida

Office Property For Sale

CEDAR SQUARE I & II

2809 15TH WEST, Panama City, FL 32401

Price:
$825,000
Building Size:
12,000 SF
Price/SF:
$68.75
Property Type:
Office
Property Sub-type:
Office Building
Property Use Type:
Investment
Commission Split:
3%
Cap Rate:
9%
Occupancy:
83%
No. Stories:
2
Building Class:
C
Tenancy:
Multiple
Year Built:
1986
Lot Size:
1.65 SF
Find Out More...

Last Verified 11/12/2009 Listing ID 16126787

Highlights

EXCELLENT LOCATION IN HISTORIC ST. ANDREWS
PRICED AT $68 PER SQUARE FOOT
ADDITIONAL COMMERCIAL BUILDING LOTS INCLUDED IN PRICE

BEST PRICED ON MARKET
LONG TERM TENANTS

Description

PRICED TO SELL AT $68 PSF. (2) OFFICE BUILDINGS CONSISTING OF 7200 SF PARTIALLY LEASED BUILDING & 4800 SF BUILDING 100% LEASED, NEW METAL ROOFS, PARKING LOT RESURFACED. SELLER WILL INCLUDE TWO COMMERCIAL BUILDING LOTS TOTALING 132 X 150 WHICH LIES ADJACENT TO THESE BUILDINGS. IDEAL PROPERTY FOR OWNER/USER OR INVESTOR TO DEVELOP VACANT LOTS IN A FEW YEARS. THE TWO OFFICE BUILDINGS ALONE SHOULD APPRAISE AT THIS PRICE, THEREFORE WOULD OWN THE TWO LOTS WORTH $150K FREE AND CLEAR OF ANY MORTGAGE.

CENTRALLY LOCATED ON 15TH STREET IN THE HISTORIC ST. ANDREWS AREA. 15TH ST RUNS EAST AND WEST THROUGH PANAMA CITY AND IS ONE OF THE MAIN TRAVELING ARTERIES FOR THE CITY.

Financial Summary

Major Tenant Information

Debt & Equity Information

Actual
Scheduled Gross Income
$120,480
Effective Gross Income
$97,380
Operating Expenses
$32,768
Net Operating Income
$64,612

Map of 2809 15TH WEST, Panama City, FL 32401 (Bay County)

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Presented by

Counts Real Estate Group, Inc

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Contact Listing Broker

Scott Helms (850) 866-0958

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Created 3/2/2009

Additional Information for 2809 W 15th Street, Panama City, FL 32401

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 4 Historic Listings
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

Tenant		Lease Expired
MARCH OF DIMES
HALL & KELLY
UTILIQUEST
BRINKS ALARM
PEDIATRIC CARE

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Office Property For Sale - CEDAR SQUARE I & II

2809 15TH WEST, Panama City, FL, 32401