6126 Thomas Dr
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6126 Thomas Dr
9,100 SF Speciality Building Offered at £1,175,831 at a 8.01% Net Initial Yield 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, 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, Panama City Beach, FL is a comprehensive self-storage facility including over 94 storage units, some of which are climate-controlled, to cater to various storage needs. The property includes 2 office units with a total office space of approximately 1,513 square feet. This facility is equipped to support both administrative functions and customer service needs. The property's strategic location with great visibility on a heavily trafficked highway enhances its accessibility and visibility, contributing to its potential for generating steady income. The proforma cap rate for the asset is 8%.
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 | £1,175,831 | Building Class | B |
| Price Per SF | £129 | Lot Size | 0.76 AC |
| Sale Type | Investment or Owner User | Building Size | 9,100 SF |
| Net Initial Yield | 8.01% | Number of Floors | 1 |
| Property Type | Speciality | Year Built/Renovated | 1997/2023 |
| Property Subtype | Self-Storage | Parking Ratio | 1.21/1,000 SF |
| Price | £1,175,831 |
| Price Per SF | £129 |
| Sale Type | Investment or Owner User |
| Net Initial Yield | 8.01% |
| Property Type | Speciality |
| Property Subtype | Self-Storage |
| Building Class | B |
| Lot Size | 0.76 AC |
| Building Size | 9,100 SF |
| Number of Floors | 1 |
| Year Built/Renovated | 1997/2023 |
| Parking Ratio | 1.21/1,000 SF |
PROPERTY TAXES
| Parcel Number | 30875-000-000 | Improvements Assessment | £129,716 (2023) |
| Land Assessment | £359,291 (2023) | Total Assessment | £489,007 (2023) |
PROPERTY TAXES
Parcel Number
30875-000-000
Land Assessment
£359,291 (2023)
Improvements Assessment
£129,716 (2023)
Total Assessment
£489,007 (2023)
zoning
| Zoning Code | BC03 |
| BC03 |
-
Zacarias Sanchez -
Think Real Estate LLC
1 of 51
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