For Sale
$3,500,000

11049 Hutchison BlvdPanama City Beach, FL 32407

High-yield, NNN-leased storefront

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional Panama City Beach, FL storefront presents a compelling investment opportunity. The 3,100 square foot, Class A property, located at 11049 Hutchison Blvd (APN 34779-011-030), boasts a 15-year net lease with Sunburn, a corporate-guaranteed tenant, commencing July 1, 2024, and expiring June 30, 2039. The lease includes 3% annual rent bumps and four to five-year renewal options. The current NOI is $270,000, yielding a 7.71% cap rate, with a purchase price of $3,500,000 ($1,129.03/sq ft). The property sits on a 0.64-acre lot, zoned T-3, and benefits from a high traffic count of 28,000 cars daily. The building, constructed in 2024, is a Sunburn prototype featuring a safe room and a $90,000 glass display. The landlord's responsibilities are limited to property taxes, with reimbursement from the tenant. Over $500,000 in tenant improvements were completed by the developer. This single-story building offers significant potential for long-term passive income and appreciation in a rapidly growing market. The property is fee simple ownership.

Highlights

  • 15-year net lease with Sunburn (corporate guarantee), commencing July 1, 2024.
  • 7.71% cap rate, $270,000 NOI, $3,500,000 purchase price ($1,129.03/sq ft).
  • 3,100 sq ft Class A storefront on a 0.64-acre lot (APN 34779-011-030), located at 11049 Hutchison Blvd, Panama City Beach, FL.
  • High-traffic location (28,000 cars daily), T-3 zoning.
  • Brand new (2024) Sunburn prototype building with $500,000 in tenant improvements, including a safe room and $90,000 glass display.

Property Details for 11049 Hutchison Blvd

Property type
Retail properties, Retail space
Square Feet
3,100 SF
Class
A
Year Built
2024
Buildings
1
Stories
1
Lot Size (sq. ft)
27,878 SF

Location Insight

City
Panama City Beach
County
Bay
State
Florida
Latitude
30.185234
Longitude
-85.812003
11049 Hutchison Blvd, Panama City Beach, Florida

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11049 Hutchison Blvd
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