1717 Frankford Ave, Panama City, FL 32405
23,129 SF Specialty Building Offered at $1,999,000 at a 6.77% Cap Rate in Panama City, FL 32405
For Sale
Active
Asking Price $1,999,000
- Property Type
-
Specialty
- Square Feet
- 23,129 SF
- Price / Square Foot
- $86
Listing Contacts
Chris Clubbs, CCIM
Property Overview
Presenting a freshly renovated 223± unit self-storage complex, enhanced with 50 new units. Boasting an on-site office, digital signage, and electric access control gates with SiteLink synchronization available, this investment appeals to both corporate investors and owner-operators. While occupancy is currently at 72% and trending upwards post expansion it is yet to stabilize, providing potential for cap rates north of 10.0% once reaching market vacancies. Ideally situated between the area's major east/west commercial arteries, 15th Street and 23rd Street, this facility is nestled in the heart of Panama City's housing landscape. Reach out today for additional information.
Property Details
- Class
- C
- Year Built/Renovated
- 1978/2022
- Stories
- 1
- Property Subtype
- Self-Storage
- Lot Size (sq. ft)
- 82,764 SF
Highlights
- 223± Unit Complex in the Heart of Panama City
- Average Monthly Gross Income North of $16,000
- 50 New Units Recently Completed
- More than 2,500 Roofs Within One Mile
- On Site Office & Smart Fence w/ SiteLink Connectivity Available
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