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    2901 W 23Rd St Panama City, FL 32405

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    For Sale
    $6,842,000

    Retail property with a new 20-year lease.

    Property size:
    5,000 SF
    Lot size:
    3.01 Acres

    Property Features for 2901 W 23Rd St

    General Information

    Size
    5,000 SF
    Lot size
    3.01 Acres

    Source: SRS Real Estate Partners | New York Agent Kyle Fant

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Retail Property in Panama City

    This retail property is occupied by Junior Food Stores of West Florida, Inc., which recently signed a new 20-year lease with six 5-year options to extend, indicating a strong commitment to the location. The lease agreement includes rent increases of 5-8% every 5 years and at the start of each option period. The lease is corporate guaranteed by EG Retail (America) LLC. The property has a size of 5000 square feet and is located in Panama City, FL.
    Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Food Mart

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Walton
    State
    Florida
    Longitude
    -85.7003441
    Latitude
    30.1892415

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    FAQs

    What type of property is this?
    Grocery and convenience store - Retail property with a new 20-year lease.
    Where is this grocery and convenience store located?
    The property is located at 2901 W 23Rd St Panama City, FL.
    What is the asking price?
    The asking price for this property is $6,842,000.
    What are key features of this property?
    This property features: - Brand new 20-year lease signed by tenant.; - Corporate guarantee by EG Retail (America) LLC.; - Lease includes 6 (5-Year) options to extend.
    (973) 632-1386
    Request Owner's contact information
    2901 W 23Rd St Panama City, FL 32405
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    Panama City, FL 32405
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2901 W 23Rd St Panama City, FL 32405
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