1415 Frankford Ave Panama City, FL 32401
- Commercial land
- 0.59 lot acres
Current Use by Public Records
- IN N OUT / Convenience Store
Property Details for 1415 Frankford Ave
- Lot size
- 0.59 lot acres
- Zone code
- PC09
- Property type
- Commercial land
- APN
- 29639-000-000
- APU
- 29639000000
Description
This exceptional investment opportunity features a brand-new, 7,020-square-foot, single-tenant building occupied by Safelite AutoGlass in Panama City, Florida. Built in 2024, this free-standing structure boasts a 20-year roof warranty and is situated on a 1.09-acre corner lot at a signalized intersection, providing excellent visibility and accessibility. The property benefits from a strong location near the heart of the retail trade area with direct access to Highway 98 (W 15th Street), experiencing a high traffic count of 39,600 AADT. The building includes five garage bays and is zoned for general commercial use. The current lease, a Net Lease (NNN) with a corporate guarantee, has a remaining term of 9.5 years, expiring May 31, 2034, with two five-year renewal options. Rent increases are built in, with an 8% bump every five years. The property offers a compelling 6.00% cap rate and a substantial net operating income (NOI) of $241,768. This is a rare opportunity to acquire a high-quality, passively managed investment with a strong tenant and significant long-term growth potential. The property's APN is 29639-000-000 & 29640-000-000. The asking price is $4,029,480.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $535,000
- ML approach
- $510,000
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Location Insight
- Map
- Local Demand
- City
- Panama City
- County
- Bay
- State
- Florida
- Longitude
- -85.6925
- Latitude
- 30.175
- CBSA code
- 37460
- CBSA name
- PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA
