What do you make of this 15K sqft 'home' in pc listed for $1.5M which has a 16 car garage & odd rooms? Ck out the photos. Built in 2007 by owner Mary Eubank who passed in 2019 and now owned by daughter Patricia Nolen... been on the market with various prices since Ms Eubank died. Some think it may have been used for movies or ?? Very mysterious imo... https://www.cpar.us/index.php?submenu=rets_cs_properties&src=directory&view=rets_cs_properties&srctype=detail&refno=155144
Today I drove by took this short video
Below are a few photos from the realtor... link above. Notice all the shelves, closets, carpeted kitchen...
The below photo is mine and I took it today when I realized it belonged to the big house... I had noticed it YEARS ago but never really knew what it was about!
16 Car Garage
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Bay County Appraiser site appraises i329 W 23rd Pl, Panama City, FL 32405 at $1,568,007 in 2022.
ReplyDeleteSo its listed at less its tax appraisal. Usually tax appraisals are 15 to 20% below market value.
I suspect because of its location, that its hard to sell a property of this size. Its not a good candidate for Air BnB or vacation rental.
It would have been better if it was not downtown and in a more quiet area. It could sell for $1.25 million if in Youngstown or Vernon.
The Eubank family bought the home for $450,000 in 2004. I figure bottom price would be $1 million.
An investor could make a low ball offer of $1 million firm. Buy it and then convert it into a boarding house and rent to at least 5 tenants charging $1000 a month each.
Anthony Blueridge (on Facebook)