724 Kraft Ave Industrial / Warehouse

Industrial for Sale
Catylist Listing ID: 30380316
Property Subtypes: Flex Space, Free-Standing, Manufacturing, Light Industrial, Net Leased, Truck Terminal, Warehouse/Distribution
Building Size (RSF): 15,930 SF
Gross Building Area: See Agent
Gross Land Area: 0.98 - 1 Acres
Sale Price: $650,000
Unit Price: $40.80 PSF
Docks/Doors: 1 Dock, 2 Doors
Office SF: 900 SF
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User
Building Name: Moving and Storage Bldg
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 2/11/2019

Overview / Comments

This is a great warehouse with very little storm damage. Almost 16,000 sf under roof plus a nice covered loading platform. Clear span building with approximately 20 ft eave heights, two roll-up doors, two bathrooms, and a 900 sf office space.

There is a large paved surface lot between this building and the neighboring building to be used for truck turning and loading/unloading. Also included with the sale of this building is a nice fenced lot for equipment/vehicle storage (almost 0.5 acres).

Current owner desires to lease back the space for 1 year with options to renew. This is a great opportunity to get a nice return on investment today and own a building for an investment or to use in the future. Proposed lease terms available to qualified buyer with a signed NDA.

Currently used for "moving and storage" but has many possibilities. The adjacent building is also available separately or together with this building.

Additional Details

Nearest MSA: Panama City
County: Bay
Taxing Authority: City of Panama City Florida
Tax ID/APN: 2-4S-14W-15442-000-000 & 2-4S-14W-15443-000-000
Zoning: INDUSTRIAL
Property Located Between: Just one block off of East Ave between 15th and 5th Street.
Highway Access: Hwy 98 is just two blocks away.
Airports: Northwest Florida Beaches International Airport
Site Description: The site is level with paved lot on the south side and a nice fenced lay down /storage yard on the north side of the building.
Area Description: The surrounding area is comprised of other commercial properties and residential housing.
Tenancy: Single Tenant
Total Number of Buildings: 1
Property Condition: Average
Year Built: 1979
Roof Type: Gable
Construction/Siding: Metal Siding, Steel Frame
Exterior Description: Steel frame building. Typical construction for warehouse/distribution.
Parking Type: Surface
Parking Description: Ample, non-delineated paved parking. Paved surface lot will be subject to a cross access easement with neighboring building if not sold together.
Interior Description: Steel framing with concrete floor. Office is typical for a trucking, shipping, or construction use.
Zoning Description: Light Industrial
Water Service: Municipal
Sewer Type: Municipal
Legal Description: 2 4S 14W-245-118B3 BEG 660' E & 462' N OF SW COR TH N 66' E 330' S 66' W 330' TO POB ORB 3906 P 1624 and 2 4S 14W -246- 118B3 W1/2 OF NE1/4 OF SW1/4 OF SW1/4 ALSO BEG 660' E & 528' N OF SW COR FOR POB, TH E 330', N 132',W 330', S 132' TO BEG LESS PRCLS& LESS -246.1- ORB 3906 P 1624

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,405 46,966 83,827
Median Age: 35.73 38.86 39.29
Households: 2,859 19,324 34,422

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