6126 Thomas Dr
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6126 Thomas Dr
9,100 SF Specialty Building Offered at $1,499,000 at a 8.01% Cap Rate in Panama City, FL 32408
INVESTMENT HIGHLIGHTS
- Located on Thomas Drive, a prime tourist hotspot with beachfront accommodations, commercial establishments, and easy access to major highways.
- Remodeled as of April 1st 2024, investors can lease both storage and office spaces, with a potential annual income of up to $150,000.
- The facility offers 21 climate-controlled units (8x5) and 80 non-climate controlled units ranging from 7x6 to 10x8 in size.
- The presence of nearby condos and rental properties ensures a steady flow of potential customers, creating a demand for storage needs.
EXECUTIVE SUMMARY
6126 Thomas Drive offers a practically brand-new commercial investment situated in the bustling heart of Panama City Beach, right across from the world's most beautiful beaches, now boasting 111 new storage units meticulously constructed with spray foam insulation. The commercial space is 100% occupied at $54k in gross income, and the storage units are 100% vacant, awaiting a new owner to lease them. The expected income on the storage units at 100% occupancy is $90k a year. This offering is a blend of indoor climate-controlled units alongside outdoor units; these spaces are primed for immediate rental, enabling a lucrative stream of passive income. Nestled on Thomas Drive, a central location in Panama City Beach, this property includes two recently renovated offices, ideal for accommodating your next tenant or for owner occupancy. With a suite of upgrades including a new roof, fresh siding, vibrant paint, secure gates, state-of-the-art storage units featuring spray foam insulation, and a revitalized landscape complete with a sprinkler system. This property stands as a turnkey investment opportunity.
This exceptional property seamlessly integrates practical design with operational efficiency. With ample parking space for 11 vehicles and a flexible layout housing 111 storage units alongside two fully functional commercial offices, this property caters to individuals with discerning business acumen.
Moreover, the potential of this commercial complex extends beyond its current offerings. Envision tailoring the property's features to suit your specific needs, whether it entails reconfiguring office spaces to align with your business model or capitalizing on the rental potential of the available storage units.
This exceptional property seamlessly integrates practical design with operational efficiency. With ample parking space for 11 vehicles and a flexible layout housing 111 storage units alongside two fully functional commercial offices, this property caters to individuals with discerning business acumen.
Moreover, the potential of this commercial complex extends beyond its current offerings. Envision tailoring the property's features to suit your specific needs, whether it entails reconfiguring office spaces to align with your business model or capitalizing on the rental potential of the available storage units.
FINANCIAL SUMMARY (PRO FORMA - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,499,000 | Building Class | B |
| Price Per SF | $164.73 | Lot Size | 0.76 AC |
| Sale Type | Investment or Owner User | Building Size | 9,100 SF |
| Cap Rate | 8.01% | No. Stories | 1 |
| Property Type | Specialty | Year Built/Renovated | 1997/2023 |
| Property Subtype | Self-Storage | Parking Ratio | 1.21/1,000 SF |
| Price | $1,499,000 |
| Price Per SF | $164.73 |
| Sale Type | Investment or Owner User |
| Cap Rate | 8.01% |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | B |
| Lot Size | 0.76 AC |
| Building Size | 9,100 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1997/2023 |
| Parking Ratio | 1.21/1,000 SF |
PROPERTY TAXES
| Parcel Number | 30875-000-000 | Improvements Assessment | $166,645 |
| Land Assessment | $458,040 | Total Assessment | $624,685 |
PROPERTY TAXES
Parcel Number
30875-000-000
Land Assessment
$458,040
Improvements Assessment
$166,645
Total Assessment
$624,685
ZONING
| Zoning Code | C1 (Bay County Commercial) |
| C1 (Bay County Commercial) |
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