- Price$1,800,000
- Acres2.05
- Built1971
5802 E Highway 22, Panama City
Here is your opportunity to purchase a 15 unit multifamily apartment complex with commercial road frontage property. This listing consists of two parcels of property. The Hwy 22 road frontage parcel is Parcel ID # 06086-010-000 which consists of .46 acre of vacant road frontage land. The second parcel is Parcel ID # 06086-000-000 which consists of 1.58 acres of land and holds 15 two bedroom one bath residential apartment units. There are currently 3 duplexes and 3 triplexes on this parcel. There are currently 7 occupied units at $1,100 per unit per month. There are several units that are in need of remodel (see photos.) At full occupancy, gross income would be $16,500 per month or higher with potential to rebuild several more units. Prior to Hurricane Michael, there were several more units on road frontage parcel. Slabs are still in place which would give potential Buyer more space for more units to be built. This property is just around the corner from Super Walmart, Starbucks, restaurants, shopping and a very short drive to Tyndall Air Force Base.
Essential Information
- MLS® #740921
- Price$1,800,000
- Bathrooms0.00
- Acres2.05
- Year Built1971
- TypeCommercial Sale
- Sub-TypeMulti Family
- StatusActive
Amenities
- UtilitiesCable Available, Electricity Available, Phone Available, Sewer Available, Water Available
- FeaturesInterior Lot
Exterior
- ExteriorBrick
- Lot DescriptionInterior Lot
- RoofComposition, Shingle
- ConstructionBrick
- FoundationSlab
Additional Information
- Date ListedMay 3rd, 2023
Community Information
- Address5802 E Highway 22
- Area02 - Bay County - Central
- Subdivision[No Recorded Subdiv]
- CityPanama City
- CountyBay
- StateFL
- Zip Code32404
Interior
- InteriorTile
- AppliancesElectric Water Heater
- HeatingCentral, Electric
- CoolingCeiling Fan(s), Central Air, Electric
- # of Stories1
- Stories1
School Information
- ElementaryParker
- MiddleEveritt
- HighRutherford
Listing Details
- Listing OfficeColdwell Banker Realty
DISCLAIMER: 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 Source: Bay County Association Of REALTORS® Multiple Listing Service