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    4001 W 23rd Street

    Panama City, FL 32405
    • $4,000,000
    • STATUS: Active
    • ON SITE: 138 days
    • MLS #: 699406
    UPDATED: 54 min ago
    $4,000,000
    • 0
      BEDS
    • 2.78
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 27,300
      SQFT
    • $147
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    2009
    County:
    Bay

    School Information

    Elementary School:
    Middle School:
    High School:

    Description

    New lease pending on Suite ''A'' - 3,900 sq. ft. space. The seller's will agree to the discounted price of $4M, but the sale price will increase to $4,500,000 if not closed in 2020. The Comcast Building offers a prime location with credit tenants. Priced below replacement cost. This 27,300 sq. ft. center offers frontage on 23rd St, ample parking, and additional storage in the rear. Leases are triple-net. Comcast has occupied 21,400 sq ft. for over 10 years and renewed for an additional 5 years in 2019. Upside includes 3,900 sq. ft. of finished office space offered at $15/ft. (new long-term lease pending), plus an additional 2,000 sq. ft. unit that is currently a dark shell space ready to finish to a new tenant's specifications.With vacancies, the 2020 NOI is projected to be approx. $345,000. Simply filling the finished office space pushes NOI to over $400,000/yr. Potential NOI of $446,000 fully occupied. Cap rate 11.2%! SELLER IS MOTIVATED.

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    © 2020 Central Panhandle Association of Realtors MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Counts Real Estate Group. Data last updated: 2020-11-24T17:04:39.947.
    www.countsbeachhomes.com/homes/107637379
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    4001 W 23rd Street Panama City, FL 32405

    • Price: $4,000,000
    • Status: Active
    • Updated: 54 min ago
    • MLS #: 699406
    0
    Beds
    0
    Baths
    0
    ½ Baths
    2.78
    Acres
    27,300
    SQFT
    $147
    $/SQFT
    2009
    Built
    Neighborhood:
    [No Recorded Subdiv]
    County:
    Bay
    Area:
    Bay County-Central
    Elementary School:
    Lucille Moore
    Middle School:
    Jinks
    High School:
    Income Producing
    Property Description
    New lease pending on Suite ''A'' - 3,900 sq. ft. space. The seller's will agree to the discounted price of $4M, but the sale price will increase to $4,500,000 if not closed in 2020. The Comcast Building offers a prime location with credit tenants. Priced below replacement cost. This 27,300 sq. ft. center offers frontage on 23rd St, ample parking, and additional storage in the rear. Leases are triple-net. Comcast has occupied 21,400 sq ft. for over 10 years and renewed for an additional 5 years in 2019. Upside includes 3,900 sq. ft. of finished office space offered at $15/ft. (new long-term lease pending), plus an additional 2,000 sq. ft. unit that is currently a dark shell space ready to finish to a new tenant's specifications.With vacancies, the 2020 NOI is projected to be approx. $345,000. Simply filling the finished office space pushes NOI to over $400,000/yr. Potential NOI of $446,000 fully occupied. Cap rate 11.2%! SELLER IS MOTIVATED.
    Exterior Features

    Construction Siding Floor - ConcreteSiding - MetalSiding - StuccoSteel/Frame Construction Status Construction Complete

    Interior Features

    Sq Ft Total Building 27300.00

    Property Features

    Business Name The Comcast Building Commercial Features Aaa TenantFreestanding BuildingOffice AreaSign Commercial Sale Sub Type Bay Community Resort None Hoa Fee No List Class Commercial Occupancy Status Occupied Utilities All Maintenance

    Listing provided courtesy of Counts Real Estate Group Inc. Listing information © 2020 Central Panhandle Association of Realtors MLS.


    © 2020 Central Panhandle Association of Realtors MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Counts Real Estate Group. Data last updated: 2020-11-24T17:04:39.947.
     
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    Counts Real Estate Group
    2104 Thomas Drive
    Panama City Beach FL, 32408