218 Kimbrel Avenue 4, Panama City, FL 32404
  • MLS#: 769912 ( CommercialSale )
  • Street Address: 218 Kimbrel Avenue 4
  • Viewed: 48
  • Price: $2,800,000
  • Price sqft: $234
  • Waterfront: No
  • Year Built: 2021
  • Bldg sqft: 11964
  • Days On Market: 28
  • Additional Information
  • Geolocation: 30.1499 / -85.5822
  • County: BAY
  • City: Panama City
  • Zipcode: 32404
  • Subdivision: [no Recorded Subdiv]
  • Elementary School: Callaway
  • Middle School: Everitt
  • High School: Rutherford
  • Provided by: Think Real Estate
  • DMCA Notice
  • Description
    This exceptional mobile home park, permitted for 13 homes, is a fantastic investment opportunity located in a growing area. The property features 12 newly installed homes that were fully rented in 2023 and 2024, providing immediate and stable rental income. Additionally, there are 2 available lots ready for future development or expansion.Key Property Features:Permitted for 13 Homes: 12 new homes installed and rented, with room for expansion on 2 available lotsNew Homes & AC Units: 12 new homes equipped with new AC units installed on platforms elevated 2 feet above the ground for durability and easy maintenanceElectrical Upgrades:12 new power poles with electrical panels installed at each of the 12 homesFlorida Power & Light is in the process of installing new underground electric lines to all homes, with 2 supply boxes and community lighting plannedWater & Sewer:Complete installation of new water lines, sewer lines, and shut off valves in 2023Separate water meters installed for each home, with tenants responsible for city waterStreet & Driveways:Newly paved asphalt street (March 2024) for easy accessPaved driveways installed (March 2024) for all homesPrivacy & Security: A new wood fence surrounds the entire perimeter of the property, providing both privacy and securityLighting & Aesthetics:Solar lighting installed at the front of each homeHigh quality skirting around each home, installed to a higher standard than most in FloridaTwo sets of steps at each home for tenant convenienceAdditional Highlights:Turnkey Investment: With all 12 homes rented and ready to generate income, this property is a profitable, hassle free investmentExpansion Potential: With 2 additional available lots, you can easily add more homes to increase rental income in the futurePrime Location: Conveniently located with easy access to local amenities, schools, and transportation routesWith a cap rate of 7.81%, this mobile home park offers a unique opportunity for investors to acquire a property with newly constructed homes and significant infrastructure upgrades. The improvements made in 2023 and 2024 ensure minimal ongoing maintenance, making this a low risk, high return investment.Seller has two other properties for sale as weill. 420/428 Berthe Avenue and 2630/2650 Blocker Church Road
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Features
Possible Terms
  1. Cash
  2. Conventional
Appliances
  1. ElectricWaterHeater
Home Owners Association Fee
  1. 0.00
Carport Spaces
  1. 0.00
Close Date
  1. 0000-00-00
Cooling
  1. CentralAir
  2. Electric
Covered Spaces
  1. 0.00
Fencing
  1. Perimeter
Garage Spaces
  1. 0.00
Heating
  1. Central
  2. Electric
High School
  1. Rutherford
Insurance Expense
  1. 0.00
Legal Description
  1. 7 4S 13W -29.1-131C4 COM SW COR W1/2 OF SW1/4 OF NW1/4OF SE1/4 OF SEC N 150' TO POB E 298.1' N 310' TO C. L. DITCH SW TO PT 125' N OF POB TH S 125' TO POB & 51.5' ON E SIDE ORB 3986 P 1388
Levels
  1. One
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
Parcel Number
  1. 06057-000-000
Pet Deposit
  1. 0.00
Possible Use
  1. MobileHome
Property Type
  1. CommercialSale
Roof
  1. Shingle
School Elementary
  1. Callaway
Security Deposit
  1. 0.00
Sewer
  1. PublicSewer
The Range
  1. 0.00
Trash Expense
  1. 0.00
Utilities
  1. ElectricityAvailable
  2. SewerAvailable
  3. WaterAvailable
Views
  1. 48
Water Source
  1. Public
Year Built
  1. 2021
Liked Listings
Headshot for Associate Michelle Hill
  1. Michelle Hill, ABR,AHWD,PA,PSA,REALTOR ®,SFR
  2. Tropic Shores Realty
  3. Mobile: 352.247.2177
  4. 229.834.4988