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1108 School Avenue, Panama City, FL

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1108 School Avenue

Panama City, FL 32401

Property Type:Flex Sub Type:Light Distribution Status:Existing Year Built:1989
Building Size:4,926 SF Land Area:2.63 AC (114,563 SF)
Ceiling Height:16'0'' Loading Docks:No Rail:- Power:-
For Sale Price:$385,000 Price/SF:$78.16
Cap Rate:-
Zoning:- Sprinklers:- Drive Ins:2 tot./14'0''w x 14'0''h Cranes:-
Parking:Free Surface spaces are available; Ratio of 2.19/1,000 SF

Sale Notes:
Office/Showroom Warehouse With Lay-Down Yard- Conv

Priced Reduced!!! 4,926 +/- sf Free-Standing Office/Showroom Warehouse with 6,300 +/- sf under roof. The warehouse is situated on 2.6 +/- acres with 1.0 +/- acre perimeter fenced for out-door storage and lay-down yard. The warehouse portion is 2,366 +/- SF with 16'5" ceiling height at the center, one grade-level door 14'0" (w) x 14'5" (h). The office/showroom portion is 2,560 +/- sf with a showroom/ counter sales areas, two offices, conference room, file room two ADA restrooms and break room/kitchen. There is a covered canopy approximately 24' x 60'.This property is tenant-occupied with a positive cash flow. The tenant's gross rent is $32,400 annually ($6.58/SF). The current lease ends in May 2017, but tenant has 2 2-year options to renew with annual rent escalations. Please contact listing broker for additional financials.

The subject property located approximately 4/10th of a mile south of Highway 98 and north of 11th Street. Highway 98 is the area's major east/west commercial corridor. With a location convenient to Tyndall Air Force Base, downtown Panama City, and Highway 231, it is a flexible property well-suited for service, supply or construction related companies.

Sperry Van Ness SouthLand Commercial
Amanda Godsey
(850) 774-8282

Kevin Wattenbarger
(850) 913-9133

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