11049 Hutchison Blvd Panama City Beach, FL 32407-3715
- Commercial land
- 0.64 lot acres
Nov 01, 2024
Current Use by Public Records
- Commercial land
Property Details for 11049 Hutchison Blvd
- Lot size
- 0.64 lot acres
- Zone code
- PCB22
- Property type
- Commercial land
- APN
- 34779-011-030
- APU
- 34779011030
Description
This exceptional Panama City Beach, FL storefront presents a compelling investment opportunity. The 3,100 square foot, Class A property, located at 11049 Hutchison Blvd (APN 34779-011-030), boasts a 15-year net lease with Sunburn, a corporate-guaranteed tenant, commencing July 1, 2024, and expiring June 30, 2039. The lease includes 3% annual rent bumps and four to five-year renewal options. The current NOI is $270,000, yielding a 7.71% cap rate, with a purchase price of $3,500,000 ($1,129.03/sq ft). The property sits on a 0.64-acre lot, zoned T-3, and benefits from a high traffic count of 28,000 cars daily. The building, constructed in 2024, is a Sunburn prototype featuring a safe room and a $90,000 glass display. The landlord's responsibilities are limited to property taxes, with reimbursement from the tenant. Over $500,000 in tenant improvements were completed by the developer. This single-story building offers significant potential for long-term passive income and appreciation in a rapidly growing market. The property is fee simple ownership.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $3,330,000
- ML approach
- $3,330,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Panama City Beach
- County
- Bay
- State
- Florida
- Longitude
- -85.812
- Latitude
- 30.1852
- CBSA code
- 37460
- CBSA name
- PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA
