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

Office Property For Sale

NNN Medical Office - Sale/Leaseback

750 Harrison Avenue, Panama City, FL 32401

Price:
$410,000
Building Size:
3,300 SF
Price/SF:
$124.24
Property Type:
Office
Property Sub-type:
Medical Office
Additional Sub-types:
Office Building
Office Condo
Property Use Type:
Net Lease Investment with 5 years left on lease
Commission Split:
1.5%
Cap Rate:
9%
Occupancy:
100%
Tenancy:
Single
Find Out More...

Last Verified 10/26/2009 Listing ID 16302415

Highlights

Condo in All Medical Building Located Near Top 50 Hospital
Strong Tenants - Long-term Physicians
Long Lease - 5 Years with Options to Renew

Rent Escalations Annually
No Buyer Responsibilities - Tenant Pays All Expenses (NNN)

Description

This investment opportunity is a 3,300+/- square foot medical office condominium occupied by two well-established physicians. Located within Medical Arts Plaza (Unit 6), this unit is offered for purchase subject to a 5-year lease (with options) that will provide net rent to the investor of $3,025 per month and $36,300 annually. Rent escalations are 2% annually. This rental amount will provide an initial 9% cap rate to the purchaser with no buyer responsibilities. Tenant will be responsible for all expenses.

Located at the southeast corner of Harrison Avenue and 8th Street, Medical Arts Plaza is approximately six blocks from Bay Medical Center. Bay Medical Center has been named one of the top 50 hospitals in the U.S. Harrison Avenue is highly traveled with immediate access to downtown Panama City.

Financial Summary

Actual
Net Operating Income
$36,300

Map of 750 Harrison Avenue, Panama City, FL 32401 (Bay County)

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Presented by

Blue Sabre Capital, LLC Licensed Real Estate Broker

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Contact Listing Broker

Shane Gager (850) 224-3003

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Created 7/1/2009

Additional Information for 750 Harrison Avenue, Panama City, FL 32401

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 0 Historic Listing
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.

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Office Property For Sale - NNN Medical Office - Sale/Leaseback

750 Harrison Avenue, Panama City, FL, 32401