8002 County Rd Panama City, FL 32413

Property Details for 8002 County Rd

Year built

2013

Lot size

1.40 lot acres

Property type

Self storage facilities

Description

This exceptional self-storage facility in Panama City Beach, Florida, presents a compelling investment opportunity. Boasting 16,456 net rentable square feet across six single-story buildings, this property features 68 units and enjoys a 71% occupancy rate. Built in 2013 and renovated in 2022, the facility sits on a 1.4-acre lot with a permitted commercial zoning designation. The property's strong financial performance is highlighted by a pro-forma NOI of $161,554 and a pro-forma cap rate of 7.02%, with an asking price of $2,300,000 ($33,823.53 per unit). Its strategic location just off FL-79, a major thoroughfare with high daily traffic counts, ensures excellent visibility and accessibility. The proximity to Panama City Beach Airport and the upscale 30A area provides a consistent customer base, further enhanced by the absence of competing facilities within a five-mile radius. The surrounding area is experiencing significant growth, including the development of Latitude Margaritaville, a planned community of 3,500 homes, promising continued economic expansion and population growth. The average household income within a five-mile radius is significantly higher than the national average, indicating a strong and stable market for self-storage services. This fee-simple ownership opportunity offers a rare combination of strong financial performance, prime location, and significant growth potential. The property's address is split between 8002 and 8024 County Rd 388, Panama City/Panama City Beach, FL 32413. APN numbers are 32600-000-000 and 32601-00-000.