Commercial Condos At Tidewater Beach Resort – Panama City Beach, FL

Commercial Condos At Tidewater Beach Resort – Panama City Beach, FL

Commercial Condos At Tidewater Beach Resort – Panama City Beach, FL
16819 Front Beach Rd
Panama City Beach, FL 32413

1,875,000

Cap Rate 7.89%
Gross Leasable Area (GLA) 4,798
Price Per Square Foot (GLA) $391
Year Built 2007
Lot Size 8 Condominiums
  • Lease is Corporately Guaranteed by Wyndham Exchange and Rentals
  • Zero Landlord Responsibilities; Tenant Responsible for All Expenses and Home Owner Association Fees
  • Triple-Net Leased to ResortQuest; One of the Nation's Leading Vacation Rental Real Estate Companies
  • Tenant Has Occupied Premises Since 2007
  • Pier Park, a 1.1-Million Square Foot Open-Air Regional Lifestyle Center is in Close Proximity
  • Class "A" Amenities at Tidewater Beach Resort
  • Rent Paid On Time Each & Every Month Since Inception
 
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Confidentiality and Buyer Registration Agreement

Marcus & Millichap Real Estate Investment Brokerage Company (“Broker”) has been asked to serve in the capacity of exclusive agent for the (“Seller”) regarding the potential sale of the properties known as: Commercial Condos At Tidewater Beach Resort – Panama City Beach, FL (the "Property").

To receive financials and other vital data please read, sign and return this completed Confidentiality Agreement to Broker. The property information has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information that prospective Buyers may need or desire. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property.

By accepting the financial reports and market data, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney’s fees, collectively “Claims”) arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney’s fees and court costs which James Medefind or Marcus & Millichap REIS may be incurred with respect to any claims for other real estate commissions, broker’s fees or finder’s fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

The Financial Reports and market data, except such information that is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the property information, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the information or any of the contents to any other entity (except to outside advisors retained by you, if necessary for you determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the information or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

No employee of Seller or at the subject property is to be contacted without the written approval of the agent and doing so would be a violation of this confidentiality agreement.

Tidewater Beach Resort is a 570-unit beachfront condominium tower located on Front Beach Road in Panama City Beach. The condominium tower was built in 2007 and contains a long list of class “A” amenities, such as two lagoon style pools and one indoor heated pool, Roman spa, a 4,300-square foot fitness center, a 5,000-square foot conference center, a movie/media room, parking garage, access to golfing, boating and bicycling. The subject property’s premier location, has close proximity to retail shops at Pier Park, Frank Brown Recreation Center, entertaining beach night life, and access to 27 miles of white sand beaches.

Overview of the 8 Commercial Condominiums for Sale

The subject property consists of eight commercial condominiums, totaling 4,798 square feet located at Tidewater Beach Resort in Panama City Beach, Florida. ResortQuest utilizes the office and storage space as their Bay County headquarters. At Tidewater Beach Resort, many of the 570 residential condominium units are used as second or third homes by homeowners. When homeowners are not in residence, they often allow their property to be listed and rented to other vacationers by a rental real estate company, such as ResortQuest.

For More Information, Please Contact:

James Medefind

Senior Associate
813-387-4788
james.Medefind@marcusmillichap.com