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$2,200,000
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Property Description
Welcome to an unparalleled investment opportunity in Panama City, Florida! Presenting a meticulously maintained apartment complex comprising 20 units, each boasting two bedrooms, one bath, and a generous 750 square feet of living space. Nestled conveniently in five two-story buildings, this property offers efficiency and quality in its design and layout.🌟 Prime Location: Situated just one block away from South Tyndall Parkway, this apartment complex provides tenants easy access to essential amenities, transportation routes, and thriving restaurants, grocery and retail centers. The community of Callaway, Florida, is strategically positioned amidst a landscape of burgeoning growth and development, making it an ideal locale for savvy investors seeking promising returns.🔨 Exceptional Resilience: In the wake of Hurricane Michael's impact in 2018, the region embarked on a remarkable journey of reconstruction and revitalization. Callaway stands as a testament to resilience, with communities and industries rallying together to rebuild stronger than ever before. The commitment of the Department of Defense to invest $5.9 Billion in the rebuild of Tyndall Air Force Base has catalyzed unprecedented economic growth, driving demand for housing and infrastructure in the area.📈 Unprecedented Growth: The influx of defense-related projects and economic development initiatives has propelled Callaway and its surrounding areas into a period of unparalleled growth. With one-third of the region's economy anchored in the defense industry, the demand for housing has surged, presenting investors with a solid opportunity for return on investment.🛩️ Base of the Future: Tyndall Air Force Base's transformation into the 'Base of the Future' signifies a monumental leap forward in defense infrastructure. With the Air Force's commitment to deploying three fighter squadrons and the addition of over 600 military jobs per squadron, the demand for housing in Callaway is poised to skyrocket. Moreover, the surge in construction activity, employing up to 4,000 workers, underscores the sustained economic vitality of the region.⚓ Thriving Naval Presence: Naval Support Activity Panama City further enhances the area's economic vibrancy, with major tenant commands driving innovation and growth. From the Naval Surface Warfare Center, Navy Dive and Salvage Training Center to the Naval Experimental Dive Unit, both the US Coast Guard and naval presence in Panama City contributes significantly to the region's stability and prosperity.Don't miss out on this exceptional opportunity to invest in the future of the communities surrounding Tyndall, including Callaway, Florida. With its strategic location, resilient community, and unprecedented growth prospects, this apartment complex promises enduring value and substantial returns for discerning investors. Seize the moment and make your mark in one of Florida's most dynamic and promising investment destinations! Detailed financial data is available with signed NDA.
Full Property Details
Full Property Details for 718 S Gay Ave
General
- Sold For: $2,200,000
- Status: Closed
- Type: Commercial Multi-Family
- Source: Bay_County
- MLS ID: 754742
- Added to Site: 709 day(s) ago
Business
- Name: Freedom Court
Interior
- Appliances: Electric Water Heater
Location
- County: Bay
- Subdivision: Mashburns 1 Add To Parker
- Driving Directions: From Tyndall Parkway and Lake Drive, turn east on Lake then seconf right on South Gay Ave, property is on your right, West side of S Gay Ave
School Information
- Elementary School: Parker
- Middle School: Everitt
- High School: Rutherford
Community
- Community Name: 02 - Bay County - Central
Heating & Cooling
- Central air: Yes
- Air Conditioning: Yes
- Cooling Type: Central Air, Electric, High Efficiency
- Heating Type: Central, Electric
Utilities
- Sewer: Public Sewer
- Water: Public
- Cable Available: Yes
- Utility Description: Cable Available, Electricity Available, Sewer Available, Water Available
Structural Information
- Construction: Frame, Stucco
- Roof: Composition, Metal, Pitched, Shingle
- Stories/Levels: 2
- Square Feet: 15,000
- Year Built: 1984
Lot Features
- Lot Size (Acres): 0.68
- Lot Size (Sq. Ft.): 30,000
- Lot Dimensions: 100 x 300
- Lot Features: Landscaped
- Zoning: City, Resid Multi-Family
Financial Considerations
- Terms: Cash, Conventional
Disclosures and Reports
- Documents Avail.: Aerial
- Legal Description: MASHBURNS 1ST ADD TO PARKER LOT 3 BLK 6 ORB 4108 P 72 (132B3)
- Property ID: 07186-000-000
- Block: 6
- Lot Number: 3
Listed by ERA Neubauer Real Estate Inc
Sold by Non-Member Office
Get Pre-Approved Today
Schools
Schools serving 718 S Gay Ave
School District:Bay County School District
| Name | Grades | Distance |
|---|---|---|
Parker Elementary School 640 South Highway 22 A, Panama City, FL 32404 | PK-5 | 0.8 mi |
Rutherford High School 1000 School Avenue, Panama City, FL 32401 | 6-8 | 2.7 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 718 S Gay Ave
Date
Details
Price
Change
Source
10/23/2024
Sold
$2,200,000
-15.38%
MLS
3/19/2024
Listed
$2,600,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
718 S Gay Avenue, Panama City, FL 32404 (MLS# 754742) is a Commercial Multi-Family property that was sold at $2,200,000 on October 23, 2024. Want to learn more about 718 S Gay Avenue? Do you have questions about finding other Commercial Multi-Family real estate for sale in Panama City? You can browse all Panama City real estate or contact a Coldwell Banker agent to request more information.

