1402 Ohio Ave Lynn Haven, FL 32444-3743

Property Details for 1402 Ohio Ave

Year built

1999

Construction

STEEL FRAME

Lot size

2.07 lot acres

Property size

15,467 SF

Property type

Retail space

APN

10224-000-000

APU

10224000000

Description

This exceptional investment opportunity presents a 13,761-square-foot Walgreens located at 1402 Ohio Ave, Lynn Haven, FL 32444. The property boasts a strong 6.00% cap rate and a substantial net operating income (NOI) of $337,824. Secured by a long-term, absolute NNN lease with Walgreens, the lease extends to September 25, 2038, offering a remaining term of 13.9 years. The lease includes favorable 5% rent bumps every five years, with the next increase scheduled for September 2028, and twelve 5-year renewal options. Situated on a 1.87-acre lot, the building was constructed in 1999 and enjoys 100% occupancy. This prime location at a signalized intersection of State Hwy 77 (33,000 VPD) and W 14th St (19,500 VPD) benefits from high daily traffic counts and proximity to major retailers like Walmart, Publix, and Aldi. The surrounding area demonstrates strong demographics, with over 62,000 residents within a five-mile radius and a projected 7% population growth over the next five years. The average household income within three miles is $111,393. This is a truly exceptional opportunity to acquire a high-performing, low-maintenance investment property in a thriving Florida market. The property's strong tenant, long lease term, and built-in rent escalations provide a secure and attractive investment profile. This offering presents a rare chance to capitalize on the stability and growth potential of a Walgreens investment in a prime location.

Location Insight

City

Lynn Haven

County

Bay

State

Florida

Longitude

-85.6493

Latitude

30.2371

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments