718 South Gay Avenue
718 South Gay Avenue
Panama City, FL 32404
$2,600,000
Price
—
Beds
15,000 Sq. Ft.
$173 / Sq. Ft.
15,000
Sq. Ft.
$173
per Sq. Ft.
Description
Welcome to an unparalleled investment opportunity in Panama City, Florida! Presenting a meticulously maintained apartment complex comprising 20 units, each boasting two bedrooms, one bath, and a generous 750 square feet of living space. Nestled conveniently in five two-story buildings, this property offers efficiency and quality in its design and layout.🌟 Prime Location: Situated just one block away from South Tyndall Parkway, this apartment complex provides tenants easy access to essential...Welcome to an unparalleled investment opportunity in Panama City, Florida! Presenting a meticulously maintained apartment complex comprising 20 units, each boasting two bedrooms, one bath, and a generous 750 square feet of living space. Nestled conveniently in five two-story buildings, this property offers efficiency and quality in its design and layout.🌟 Prime Location: Situated just one block away from South Tyndall Parkway, this apartment complex provides tenants easy access to essential amenities, transportation routes, and thriving restaurants, grocery and retail centers. The community of Callaway, Florida, is strategically positioned amidst a landscape of burgeoning growth and development, making it an ideal locale for savvy investors seeking promising returns.🔨 Exceptional Resilience: In the wake of Hurricane Michael's impact in 2018, the region embarked on a remarkable journey of reconstruction and revitalization. Callaway stands as a testament to resilience, with communities and industries rallying together to rebuild stronger than ever before. The commitment of the Department of Defense to invest $5.9 Billion in the rebuild of Tyndall Air Force Base has catalyzed unprecedented economic growth, driving demand for housing and infrastructure in the area.📈 Unprecedented Growth: The influx of defense-related projects and economic development initiatives has propelled Callaway and its surrounding areas into a period of unparalleled growth. With one-third of the region's economy anchored in the defense industry, the demand for housing has surged, presenting investors with a solid opportunity for return on investment.🛩️ Base of the Future: Tyndall Air Force Base's transformation into the 'Base of the Future' signifies a monumental leap forward in defense infrastructure. With the Air Force's commitment to deploying three fighter squadrons and the addition of over 600 military jobs per squadron, the demand for housing in Callaway is poised to skyrocket. Moreover, the surge in construction activity, employing up to 4,000 workers, underscores the sustained economic vitality of the region.⚓ Thriving Naval Presence: Naval Support Activity Panama City further enhances the area's economic vibrancy, with major tenant commands driving innovation and growth. From the Naval Surface Warfare Center, Navy Dive and Salvage Training Center to the Naval Experimental Dive Unit, both the US Coast Guard and naval presence in Panama City contributes significantly to the region's stability and prosperity. Don't miss out on this exceptional opportunity to invest in the future of the communities surrounding Tyndall, including Callaway, Florida. With its strategic location, resilient community, and unprecedented growth prospects, this apartment complex promises enduring value and substantial returns for discerning investors. Seize the moment and make your mark in one of Florida's most dynamic and promising investment destinations! Detailed financial data is available with signed NDA.
- Listed by Tom S Neubauer • ERA Neubauer Real Estate Inc
Property Details for 718 South Gay Avenue
Waterfront
No
Subdivision NameMashburns 1 Add To Parker
Zoning DescriptionCity,Resid Multi-Family
Location
Listing Courtesy of ERA Neubauer Real Estate Inc
Add your commute
LISTING UPDATED: 04/26/2024 11:01 AM
Property Details for 718 South Gay Avenue
| Status | Active |
|---|---|
| MLS # | 754742 |
| Days on Market | 43 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Commercial Sale / Multi Family / Multi Family |
| Year Built | 1984 |
| Lot Size | 0.68 AC / 29,620 SF |
| County | Bay County |
Location
Listing Courtesy of ERA Neubauer Real Estate Inc
Add your commute
Building Information for 718 South Gay Avenue
Stories-Residences-Year Built1984Building Size-Lot Size0.68 AC / 29,620 SF
Payment Calculator
$14,927 per month
30 year fixed, 7.25% Interest
Principal and Interest
$14,189
Property Taxes
$738
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 718 South Gay Avenue
Summary
Location and General Information
- City: Panama City
- County Or Parish: Bay
- Directions: From Tyndall Parkway and Lake Drive, turn east on Lake then seconf right on South Gay Ave, property is on your right, West side of S Gay Ave
- Postal Code: 32404
- Latitude: 30.133929
- Longitude: -85.587618
- State Or Province: FL
- MLS Area Major: 02 - Bay County - Central
- MLS Area Minor: 0202 - Bay - Central SE
Taxes and HOA Information
- Parcel Number: 07186-000-000
- Association: No
- Tax Block: 6
- Tax Legal Description: MASHBURNS 1ST ADD TO PARKER LOT 3 BLK 6 ORB 4108 P 72 (132B3)
- Tax Lot: 3
School Information
- Elementary School: Parker
- High School: Rutherford
- Middle Or Junior School: Everitt
Property
Lot Information
- Building Area Total: 15000.0
- Lot Features: Landscaped
- Lot Size Acres: 0.68
- Lot Size Dimensions: 100 x 300
- Lot Size Square Feet: 30000.0
- Living Area: 15000.0
- Frontage Length: 100.00
Property and Assessments
- Possible Use: Commercial
- Year Built: 1984
- Public Survey Range: 13W
- Public Survey Section: 18
- Public Survey Township: 4S
- Documents Available: Aerial
- Human Modified: No
Utilities
- Sewer: Public Sewer
- Utilities: Cable Available, Electricity Available, Sewer Available, Water Available
- Water Source: Public
Interior and Exterior Features
Exterior Features
- Construction Materials: Frame, Stucco
- Foundation Details: Slab
- Roof: Composition, Metal, Pitched, Shingle
Interior Features
- Levels: Two
- Stories: 2
- Cooling: Yes
- Cooling: Central Air, Electric, High Efficiency
- Heating: Yes
- Heating: Central, Electric
- Appliances: Electric Water Heater
Multi Family
Multi-Family Information
- Number Of Units Total: 20
Rental
Rental Information
- Occupant Type: Occupied
Property History for 718 South Gay Avenue
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 718 South Gay Avenue
Taxable ValueLand$45,000Additions$787,526Total$832,526
Tax Record2023$8,857 ($738 / month)
Home Facts
Total Finished SqFt3,000 SqFtAbove Grade Finished SqFt3,000 SqFtStories2Lot Size30,000 SqFtStyleMulti-Family Dwelling (2-4)Year Built1984ZoningCLWY23CountyBAYAPN07186-000-000
Schools near 718 South Gay Avenue
This home is within Bay.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 6 to 12 | |||
| Public - | PK to 5 |
Rating | School | Distance |
|---|---|---|
Parker Elementary School PublicPK to 5 | ||
Everitt Middle School Public6 to 8 | ||
Rutherford High School Public6 to 12 | ||
Springfield Elementary School PublicPK to 5 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of ERA Neubauer Real Estate Inc
The data relating to real estate for sale/lease on this web site come in part from a cooperative data exchange program of the Emerald Coast Association of REALTORS, Central Panhandle Association of REALTORS, Pensacola Association of REALTORS and Capital Area Technology & REALTOR Services. The properties displayed may not be all of the properties in the MLS's database, or all of the properties listed with Brokers participating in the cooperative data exchange program. Information deemed reliable but not guaranteed. Copyright© 2024 Emerald Coast Association of REALTORS, Central Panhandle Association of REALTORS, Pensacola Association of REALTORS and Capital Area Technology & REALTOR Services. All Rights Reserved.
