Log In/Sign Up
Your email has been sent.
Bay Breeze Apartments 3 Properties Offered at $5,795,000 in Panama City, FL
Investment Highlights
- Opportunity to further expand the community by building additional units.
- Favorable unit mix consisting of all 2 bedroom/1 bathroom units with in-unit washer-dryer hookups.
- Approximately 15 minutes away from downtown Panama City which boasts multiple trendy restaurants, boutique shopping, and entertainment.
- Average in-place rents are approximately 14% under market value.
- Well maintained community in a growing submarket of Panama City.
Executive Summary
Bay Breeze is a 44-unit garden style apartment community located in Panama city, Florida. The assets consist of two phases which were built in 1985 and are adjoined by an improved 0.86-acre parcel where a new owner could build approximately seven additional units. The community has a very favorable unit mix comprised of all two-bedroom and one-bedroom units that average 910 square feet each. Bay Breeze's average in-place rent is 14% under the market values with the opportunity to further elevate organically and through light interior unit upgrades. Bay Breeze offers a unique opportunity to acquire a well maintained asset with multiple avenues to further enhance the value in a growing submarket of Panama City.
For more information, please sign and the below confidentiality agreements and email to Andrew Green (andrew.green@seacrestadvisors.com)
For more information, please sign and the below confidentiality agreements and email to Andrew Green (andrew.green@seacrestadvisors.com)
Property Facts
| Price | $5,795,000 | Number of Properties | 3 |
| Price / SF | $158.30 / SF | Individually For Sale | 0 |
| Cap Rate | 6.79% | Total Building Size | 36,608 SF |
| Sale Type | Investment | Total Land Area | 2.89 AC |
| Status | Active |
| Price | $5,795,000 |
| Price / SF | $158.30 / SF |
| Cap Rate | 6.79% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 36,608 SF |
| Total Land Area | 2.89 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 721 S Berthe Ave, Panama City, FL 32404 | Land | 0.86 AC | - | - |
| 723 S Berthe Ave, Panama City, FL 32404 | Multifamily | 19,968 SF | 1985 | - |
| 719 S Berthe Ave, Panama City, FL 32404 | Multifamily | 16,640 SF | 1985 | - |
1 1
1 of 11
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Bay Breeze Apartments
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.