420-428 Berthe Avenue, Panama City, FL 32404
  • MLS#: 769913 ( CommercialSale )
  • Street Address: 420-428 Berthe Avenue
  • Viewed: 6
  • Price: $1,850,000
  • Price sqft: $137
  • Waterfront: No
  • Year Built: 2023
  • Bldg sqft: 13500
  • Days On Market: 28
  • Additional Information
  • Geolocation: 30.1556 / -85.5738
  • 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 well maintained and fully permitted mobile home park offers an excellent opportunity for investors or developers. This sale includes 428 Berthe Avenue as well. Located in a desirable area, the property is permitted for 13 homes, with 8 new homes recently installed and one used home. The park is already generating steady rental income, with homes renting for $1,750 to $1,850, and one older unit at $1,300.Property Features:Homes: 8 brand new, well sized homes recently installed and rented, plus 1 used home.Air Conditioning: Each home is equipped with a new AC unit installed on a platform 2 feet above ground for improved durability.Electrical: 8 new electrical pedestals with dedicated panels for each new home. All new underground electrical systems were installed last year by Florida Power & Light to service all 9 homes and 2 supply boxes.Water & Sewer: Full water line installation, water meters, and sewer lines with city sewer access. A lift station, 2 pumps replaced 2 years ago, and a Culligan serviced well ensure reliable water delivery.Street: Recently paved asphalt (March 2024), providing an upgraded and attractive entrance.Driveways: Compacted gravel driveways for easy vehicle access.Fencing: A newly installed wood fence at the front of the property offers privacy and security.Lighting: Solar powered lighting at the front of each home, with additional lighting at the rear of 3 homes.Skirting & Steps: Durable, high quality skirting and 2 sets of steps at each home for easy access and attractive curb appeal.Investment Highlights:Fully permitted for 13 homes, with a current setup of 9 homes (8 new and 1 used).Strong rental income potential, with competitive rents and high demand in the area.Significant infrastructure upgrades, including electrical, water, and sewer systems, ensuring minimal future maintenance needs.Recently paved street and newly installed fencing, enhancing the overall value of the property.With a cap rate of 8.72%, this property offers a solid foundation for steady rental income, while also providing room for future growth with the potential to expand to full capacity. Whether you're looking to expand your portfolio or seeking a long term investment with low maintenance, this mobile home park is an ideal choice.Seller has two other parks available for sale as well. 218 Kimbrel Avenue, and 2630/2650 Blocker Church Road
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Features
Possible Terms
  1. Cash
  2. Conventional
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
Garage Spaces
  1. 0.00
Heating
  1. Central
  2. Electric
High School
  1. Rutherford
Insurance Expense
  1. 0.00
Legal Description
  1. 8 4S 13W -40- 131D2 BEG 220' S OF NW COR OF SW1/4 OF NW1/4 TH E 198' S 110' W 198' N 110' TO POB ORB 3986 P 1388 (SUBJ TO EAS ORB 4599 P 1706)
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. 06438-000-000
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
Water Source
  1. Well
Year Built
  1. 2023
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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