Property Details for 5311 Fl-22

Lot size

0.71 lot acres

Property size

4,004 SF

Property type

Specialty properties

Property subtype

Schools

Description

This exceptional investment opportunity presents a fully leased, single-story school building in Panama City, Florida. The 4,004-square-foot property, situated on a 0.71-acre lot, boasts a recently completed (2023) renovation, ensuring modern functionality and aesthetics. Currently operating under a triple-net (NNN) lease with a single tenant, the property offers a stable and predictable income stream. The lease commenced April 15, 2024, and extends to July 15, 2027, representing a remaining term of approximately 2.6 years. The building features seven classrooms, five restrooms, and ample support facilities, all designed to meet the needs of an educational institution. The property includes a generous off-street parking lot and a fully fenced area, enhancing safety and security. The asking price is $720,000, representing an attractive 8.34% cap rate based on a net operating income (NOI) of $60,060. The lease includes a 3% annual rent bump, providing built-in growth potential. The property is zoned General Commercial 1 and has a Bay County APN of 24453-000-000. This turnkey investment offers a compelling opportunity for passive income generation in a growing market. The property's modern design, reliable tenant, and strong financial performance make it an ideal addition to any investment portfolio. The building's upgrades include new flooring, windows, doors, and lighting.

Location Insight

City

Panama City

County

Bay

State

Florida

Longitude

-85.5947

Latitude

30.153