Marcus & Millichap Sells Retail Property In Panama City Beach For $9.7M
SOLD
$9,700,000
+ 2
Florida
See Similar DealsRetail48,000 SF
Sold 03/30/2022
SOLD
Marcus & Millichap Sells Retail Property In Panama City Beach For $9.7M
11501 Hutchison Boulevard, Panama City Beach, Florida 32407, United States
See Similar DealsRetail48,000 SF
Sold 03/30/2022
+ 2
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$202
Total Square Footage:48,000 SF
Transaction Type:Sale
The retail property located at 11501 Hutchison Boulevard in Panama City Beach has been sold for a total of $9,700,000. The property spans across 5.01 acres and offers a total of 48,000 square feet. The sale price per square foot was $202, indicating a lucrative transaction.
Summary of Transaction Details
- Property Type: Retail
- Transaction Amount: $9,700,000
- Address: 11501 Hutchison Boulevard
- Market: Panama City Beach
- Acres: 5.01
The sale of this retail property was facilitated by the brokerage firm Marcus & Millichap. The team involved in the transaction included Chad Atwood, Simon V. Grigoryan, Will Harding, and Jessica Harris. Garrett Fierstein from Marcus & Millichap Capital Corporation served as the mortgage broker. Their expertise and negotiation skills contributed to the successful sale of the property.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$517,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,462.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,982.95
Annual Debt Service$551,795.38
Is there something missing? Send suggestions