2265 Martin Luther King Jr Blvd Panama City, FL 32405-5320

Property Details for 2265 Martin Luther King Jr Blvd

Lot size

0.85 lot acres

Zone code

PC09

Property type

Commercial land

APN

14602-100-310

APU

14602100310

Description

This exceptional investment opportunity presents a 2,500 square foot Starbucks located at 2265 Martin Luther King Jr Blvd, Panama City, Florida 32405. The property is a single-tenant, absolute NNN net lease with a corporate guarantee from a publicly traded company boasting an investment-grade credit rating (BBB+/stable). The lease commenced August 1st, 2024, and features a 15-year term expiring July 31st, 2039, with a substantial remaining term of approximately 14.7 years. Rent commences July 11th, 2024, and includes a 10% rent increase every five years, ensuring consistent growth in return. The property sits on a 0.85-acre lot and is an outparcel to a Class-A retail power center, benefiting from high visibility and traffic volume (23,500 vehicles per day on N. Cove Blvd). The densely populated market boasts over 84,000 residents within a 5-mile radius. The asking price is $4,000,000, representing a 5.25% cap rate and a net operating income (NOI) of $210,000. This is a rare relocation store, having moved from across the street, indicating strong brand confidence in the location. The building was constructed in 2024 and enjoys 100% occupancy. This is an ideal investment for those seeking a secure, high-performing asset with significant long-term growth potential.

Location Insight

City

Panama City

County

Bay

State

Florida

Longitude

-85.6507

Latitude

30.1879

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments