Investor Alert! Panama Palms Motel Foreclosure $1,450,000!
The Panama Palms Motel on 5607 Thomas Drive recently came on the market as a Bank Owned Property. This motel is a hidden gem for the savvy investor and can be a revenue generating machine with a projected Cap Rate of 23%.
Located on the eastern end of Panama City Beach and one row back from the beautiful white sand beaches of the Emerald Coast. The Panama Palms Motel sits on a large 1.5 acre site, which in my opinion is worth $1.45mil as raw land and its current zoning for a hotel. The motel has 44 units, an office with a manager’s apartment, a pool, a pool house, a remodeled duplex with gulf views, a single story cottage and more. There are four large parcels in all that make up this bank owned property.
The Panama Palms Motel is one row off the beach and offers gulf views from the second floor units and easy access to the gulf. Its location on Thomas Drive offers excellent drive by visibility from the street. With strategic renovations this Motel has the potential to bring in significant rental revenue. This property was originally purchased for $8.35 million and is a steal at the $1.45 mil offer price.
If you are interested in more information on the Panama Palms Motel or would like addition information, please call Craig Baranowski @ 850-259-1788 or email info@teambaranowski.com.
Panama Palms Motel Investor Analysis – Cash Flow, Holding Costs, Cap Rate
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Panama Palms Motel 5607 Thomas Drive Panama City Beach Offered at $1,450,000 REO, Bank Owned
