15737 Panama City Bch Pkwy Panama City Beach, FL 32413-5415

Property Details for 15737 Panama City Bch Pkwy

Lot size

1.35 lot acres

Zone code

PCB22

Property type

Commercial land

APN

33750-160-000

APU

33750160000

Description

This exceptional investment opportunity presents a fee-simple interest in a Ruby Tuesday restaurant located at 15737 Panama City Beach Pkwy, Panama City Beach, FL 32413. The 5,066 square foot building, constructed in 2025, sits on a 1.35-acre lot with 77 parking spaces and benefits from a new 15-year absolute NNN lease with four 5-year renewal options. The lease includes a 10% rental increase every five years, ensuring consistent NOI growth and inflation protection. The property boasts a 6.50% cap rate and a current NOI of $300,000, reflecting a strong return on investment. Its prime location on a signalized, hard-corner intersection of Panama City Beach Parkway and Pier Park Drive, a major retail thoroughfare, ensures high visibility and accessibility. The site is an outparcel to the 50+ acre Pier Park shopping center, anchored by national tenants such as Target and Dillard's, and is near Pier Park North, further enhancing its strategic position within a thriving retail corridor. The surrounding area features a dense concentration of national retailers and boasts strong demographics, with a 5-mile trade area population exceeding 23,300 residents and an average household income of $115,433. This property offers a management-free investment opportunity with significant upside potential, backed by a corporate guarantee from Ruby Tuesday, Inc. The 100% occupancy and strong tenant commitment make this a compelling addition to any portfolio.