11130 Panama City Bch Pkwy Panama City Beach, FL 32407-2447

Property Details for 11130 Panama City Bch Pkwy

Year built

2022

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.79 lot acres

Property size

4,055 SF

Zone code

PCB21

Property type

Medical offices

Property subtype

Medical centers

APN

34030-300-010

APU

34030300010

Description

This exceptional investment opportunity presents a 3,600 square foot medical office building in Panama City Beach, Florida, currently 100% occupied by Heartland Dental under a corporate-guaranteed net lease. The property boasts a strong 5.90% cap rate and a substantial NOI of $169,200. Built in 2022, this single-tenant building sits on a 0.79-acre lot and benefits from a highly visible location directly off Panama City Beach Parkway (Highway 98), experiencing 52,000 vehicles per day. The lease, commencing December 1, 2022, and expiring December 30, 2032, offers a remaining term of 8.1 years with built-in rent bumps of 10% every five years and multiple renewal options (4 and 5-year options). The property shares ingress and egress with a Publix-anchored shopping center, surrounded by other national tenants including Home Depot, Office Depot, Dunkin', Chick-fil-A, Lowe's, AutoZone, and Culver's. The strong demographics of Panama City Beach, with a projected population increase of 4-9% in the next five years, and a fifteen-mile radius encompassing 146,000 residents and over 165,300 daytime employees, further enhance the investment potential. The asking price is $2,867,797, translating to $796.61 per square foot. This is a rare opportunity to acquire a stable, high-performing asset in a thriving coastal market.

Location Insight

City

Panama City Beach

County

Bay

State

Florida

Longitude

-85.8087

Latitude

30.1957

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments