New Town Realty LLC
    3157A Whitaker Lane
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    912-1120 THOMAS Drive Panama City Beach, FL 32408

    Main photo of property

    Coastal Palms Commercial
    MLS Number: 666930

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    • How Many Views 81 Views
    • Property Type Other
    • Square Foot of House 25,447 Sq Ft
    • Number of Beds 0 Beds
    • Number of Baths / 0 Baths
    • Share
    • $5,750,000

    Coastal Palms Village consists of a 16,219 square feet Retail Stip Center and a 6901 square feet Class A Building. The site consists of +/- 4 acres with 1150' frontage on Thomas Drive, directly across from the Naval Support System. Completed in 2008, it is Class A construction with tremendous upside. The strip center has 10 spaces and is constructed of concrete poured block and steel beam supported ceilings. The roof is tile and one piece member of rubber. It is equipped with a complete fire sprinkler system and is monitored on a 24/7 basis. The 6901 square feet Class A Building has 2 spaces. The complex also has excellent signage on Thomas Drive. Cap Rate is 5.7%. All leases are Triple Net Leases. Tremendous Upside! Tenants include Dunkin Donuts, Rupert's Cleaners, Rose's Nails, The Egg & I Restaurant, Legacy Cabinets, Fatty Patty's Restaurant and Cakes, 4m Engineering, Nephrology Associates, and Fatty's Sandwich. Two Units are Available for Lease in the Strip Center. Other Tenants in the area are: Dick's Wings, Bruster's Ice Cream, Burger King, LaQuinta Hotel and others. SELLER IS OFFERING FINANCING WITH 30% DOWN, PAYMENTS BASED ON 30 YEAR TERM WITH A 10 YEAR CALL. INTEREST RATE 6.5%. IN ADDITION, SELLER WILL ENTERTAIN A 33% PARTNER (DEBT FREE INVESTMENT). Properties are also being Sold individually. See MLS 666936 and 666940 for details of individual tenants.

    Listing provided courtesy of Varnes Realty

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    • Architecture

      • Year Built: 2008
      • Stories: 0
      • Project Facilities:
      • Construction: Construction Complete
    • Interior Features

      • Square Footage: 25447
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      • Waterfront: N/A
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      • Zoning: General Commercial
    • Community

      • HOA Includes:N/A
      • HOA FEE:N/A
      • HOA Payable:N/A

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Current Data as of Mon Nov 29 20:15:59 CST 2021
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