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3510- 3536 Saint John Street
  • MLS#: 782381 ( CommercialSale )
  • Street Address: 3510- 3536 Saint John Street
  • Viewed: 21
  • Price: $6,243,750
  • Price sqft: $189
  • Waterfront: No
  • Year Built: 1970
  • Bldg sqft: 33060
  • Days On Market: 109
  • Additional Information
  • Geolocation: 30.1475 / -85.6127
  • County: BAY
  • City: Panama City
  • Zipcode: 32401
  • Subdivision: [no Recorded Subdiv]
  • Elementary School: Cherry Street
  • Middle School: Everitt
  • High School: Rutherford
  • Provided by: Luxe Coastal Realty Group LLC
  • DMCA Notice
  • Description
    This 50 unit garden style community delivers strong fundamentals and consistent performance, supported by a diverse unit mix of 8 one bed, 20 two bed, 12 three bed, and 10 four bed units. With 42 units renovated since 2020featuring updated flooring, fresh paint, windows, and fixturesthe property offers modern appeal and reduced turnover risk. Additional income is generated through an on site laundry facility, and a separate office building with storage provides valuable operational flexibility. Major capital improvements include new metal roofs, upgraded electrical panels, and multiple HVAC and water heater replacements, minimizing near term CapEx exposure. Steady occupancy and an assumable $4.57M, 3.75% fixed rate non recourse loan enhance the investment's strength in today's lending environment. Positioned near major retailers, schools, employment centers, and within minutes of Panama City Beach, the property sits in a high demand rental corridor with long term growth potential. A recent price adjustment further improves the opportunity for investors seeking stability and upside.
Features
Home Owners Association Fee
  1. 0.00
Carport Spaces
  1. 0.00
Close Date
  1. 0000-00-00
Covered Spaces
  1. 0.00
Garage Spaces
  1. 0.00
High School
  1. Rutherford
Insurance Expense
  1. 0.00
Legal Description
  1. 11 4S 14W -366.4- 118C4 BEG 787' N & 500' W OF SE COR OF SW1/4 OF SE1/4 TH W 285' S 256' E 285' N 256' TO POB ORB 4161 P 1823
Living Area
  1. 0.00
Middle School
  1. Everitt
Area Major
  1. 02 - Bay County - Central
Net Operating Income
  1. 0.00
Occupant Type
  1. Occupied
Open Parking Spaces
  1. 0.00
Other Expense
  1. 0.00
Other Structures
  1. Outbuilding
  2. Storage
Parcel Number
  1. 23388-000-000 & 23389-000-000
Pet Deposit
  1. 0.00
Possible Use
  1. MultiFamily
Property Type
  1. CommercialSale
School Elementary
  1. Cherry Street
Security Deposit
  1. 0.00
The Range
  1. 0.00
Trash Expense
  1. 0.00
Views
  1. 21
Year Built
  1. 1970