3100 W 23rd St Panama City, FL 32405

Located in Panama City, Florida, this property benefits from its position in the largest city between Pensacola and Tallahassee, serving as the county seat of Bay County and the economic anchor of the Florida Panhandle. Panama City is a historic port town on St. Andrews Bay, supported by a strong military presence from Tyndall Air Force Base and Naval Support Activity Panama City, as well as major industrial and governmental employers. The city has a growing, community-focused identity, with a burgeoning arts and cultural scene centered around its historic downtown and the St. Andrews neighborhood. The property is a corporate-backed Murphy USA (NYSE: MUSA). It features a new 20-year ground lease with four 5-year renewal options, offering up to 40 years of potential term. The absolute NNN ground lease requires the tenant to cover all expenses and maintenance, providing zero landlord responsibilities. Rent increases of 8% occur every 5 years. The property is located on a high-profile corner in Panama City, which has a population of over 200,000, with access to affordable housing, family-friendly recreation, and St. Andrews Bay waterfront. The local population is over 78,000 with an average income of over $93,000. The property benefits from strong traffic and excellent visibility and access.