Current Use by Public Records
- Lifestyle centers
Property Details for 500 Hawkins Ave
- Year built
- 2022
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional Class A retail property, the Shops at Bay City Point, presents a compelling investment opportunity. Located at 500 Hawkins Ave, Panama City, FL 32405, this 31,540 square foot shopping center boasts a 100% occupancy rate with a strong national tenant lineup including Xfinity, Vitamin Shoppe, Smile Doctor, and Chicken Salad Chick, among others. All tenants signed long-term leases (7-year weighted average lease term) within the past year, ensuring a stabilized investment with a substantial net operating income (NOI) of $635,305 and a 7.25% cap rate. The asking price is $8,765,000. Built in 2022, this new construction strip center is strategically positioned within the Bay City Point Development, a thriving 24+ acre retail hub. This prime location benefits from its proximity to a Class A power center anchored by national retailers such as Hobby Lobby, Burlington, Five Below, Ulta, and Sketchers, as well as numerous outparcel tenants including McDonald's, Chick-fil-A, and more. The property sits across from the Panama City Mall, a large mixed-use development currently undergoing redevelopment. The high-traffic intersection (E 23rd Street and SR-77) ensures significant visibility and accessibility, with over 3 million square feet of retail within a one-mile radius. This is a rare opportunity to acquire a high-performing, stabilized retail asset in a rapidly growing market. The property's APN is 14602-100-250.
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Location Insight
- Map
- Local Demand
- City
- Panama City
- County
- Bay
- State
- Florida
- Longitude
- -85.6539
- Latitude
- 30.1881
