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$ 2,950,000
Est. payment /mo
New
9502 Clarence ST Panama City Beach, FL 32407
2,155 SqFt
UPDATED:
Key Details
Property Type Mobile Home
Sub Type Mobile Home
Listing Status Active
Purchase Type For Sale
Square Footage 2,155 sqft
Price per Sqft $1,368
Subdivision [No Recorded Subdiv]
MLS Listing ID 797426
HOA Y/N No
Year Built 1974
Lot Size 3.420 Acres
Acres 3.42
Property Sub-Type Mobile Home
Property Description
Rustic Beach Mobile Home and RV Park.
Consists of 2 parcels, centrally located and a short drive to the Hathaway Bridge with easy access to both Panama City and Panama City Beach.
The first parcel is 3.42 acres (Parcel ID:
27575-010-000)
The second parcel is 0.422 acres (Parcel ID: 27575-000-000) and
encompasses a 2,155 square foot single family residence.
Total 3.842+/- acres.
Here are the statistics for this rare property:
Actual Annual Rental Revenue is $346,800 (actual monthly rent $28,900).
Current Annual Net Operating Income is $271,642 with a Current Cap Rate of 9.21%.
28 total lots
26 occupied lots (only 2 vacancies).
16 park owned mobile homes (bill of sale on all 16 mobile homes will convey at closing).
3 tenant-owned mobile homes.
Electricity is included in rent in 11 of the 26 mobile home lots.
Additional income can be garnered by 1.) leasing the 2 vacant RV lots and 2.) revitalizing the laundry facility via cash/coin laundry machines.
Try and duplicate a 3.842 acre parcel and fully develop it as a mobile home park and you will spend over a million dollars in development, permitting, and more importantly infrastructure (water, septic, utilities, site development, and road paving).
This type of zoning, income, and public offering for an existing mobile home park like this doesn't exist in Panama City Beach in this type of capacity. You can go to Callaway for something similar, but not Panama City Beach where there is more appreciable growth.
To duplicate this type of property ''on the beach'' is next to impossible with significant costs. Avoid all the development hassle, permitting, and site development costs and buy an existing mobile home park with proven rental income.
Consists of 2 parcels, centrally located and a short drive to the Hathaway Bridge with easy access to both Panama City and Panama City Beach.
The first parcel is 3.42 acres (Parcel ID:
27575-010-000)
The second parcel is 0.422 acres (Parcel ID: 27575-000-000) and
encompasses a 2,155 square foot single family residence.
Total 3.842+/- acres.
Here are the statistics for this rare property:
Actual Annual Rental Revenue is $346,800 (actual monthly rent $28,900).
Current Annual Net Operating Income is $271,642 with a Current Cap Rate of 9.21%.
28 total lots
26 occupied lots (only 2 vacancies).
16 park owned mobile homes (bill of sale on all 16 mobile homes will convey at closing).
3 tenant-owned mobile homes.
Electricity is included in rent in 11 of the 26 mobile home lots.
Additional income can be garnered by 1.) leasing the 2 vacant RV lots and 2.) revitalizing the laundry facility via cash/coin laundry machines.
Try and duplicate a 3.842 acre parcel and fully develop it as a mobile home park and you will spend over a million dollars in development, permitting, and more importantly infrastructure (water, septic, utilities, site development, and road paving).
This type of zoning, income, and public offering for an existing mobile home park like this doesn't exist in Panama City Beach in this type of capacity. You can go to Callaway for something similar, but not Panama City Beach where there is more appreciable growth.
To duplicate this type of property ''on the beach'' is next to impossible with significant costs. Avoid all the development hassle, permitting, and site development costs and buy an existing mobile home park with proven rental income.
Location
State FL
County Bay
Community Other, See Remarks
Area 03 - Bay County - Beach
Interior
Fireplace No
Exterior
Parking Features Paved
Community Features Other, See Remarks
Utilities Available Water Available
Private Pool No
Building
Lot Description Cleared, Cul-De-Sac, Landscaped, Level
Water Community/Coop
Schools
Elementary Schools Hutchison Beach
Middle Schools Surfside
High Schools Arnold
Others
Tax ID 27575-010-000
Special Listing Condition Listed As-Is
Listed by Keller Williams Realty Emerald