• 208 N Highway 22 a, Panama City, FL 32404

For Sale

Office

For Sale

This property is available for sale
4.64
Acres
$680,000
Sale Price
  • Year Built
    1952
  • Overview

    None.
    HUGE VALUE ADD POTENTIAL! This property offers amazing upside to future buyers. The property features 32 mobile home lots and 9 permanent structure rental units. Presently 8 of the 32 mobile home lots are occupied with tenant owned homes paying $350/month in lot rent (market lot rent is $450/month). 7 of the 9 permanent structures are occupied as well. The property currently generates $6,000/month in revenue. All mobile home lots and structures are separately metered with city utilities paid for by the tenants. By filling the empty mobile home lots and repairing the 2 remaining structures the next owner has potential to more than double the property's value. Property is managed by a third party professional management company at a 5% of gross revenue expense.

Contact or Call

Property Details

None.
HUGE VALUE ADD POTENTIAL! This property offers amazing upside to future buyers. The property features 32 mobile home lots and 9 permanent structure rental units. Presently 8 of the 32 mobile home lots are occupied with tenant owned homes paying $350/month in lot rent (market lot rent is $450/month). 7 of the 9 permanent structures are occupied as well. The property currently generates $6,000/month in revenue. All mobile home lots and structures are separately metered with city utilities paid for by the tenants. By filling the empty mobile home lots and repairing the 2 remaining structures the next owner has potential to more than double the property's value. Property is managed by a third party professional management company at a 5% of gross revenue expense.

  • Property Type
    Office
  • Year Built
    1952
  • Sale Price
    $680,000
  • Total Acres
    4.64
  • Number of Floors
    0
  • Last updated
    Sep 06, 2019
  • Property ID
    2083391

Landlord's Sales Representative

  • Cain McNeil
    Century 21 Commander Realty