For Sale
$2,867,797

11130 Panama City Beach PkwyPanama City Beach, FL 32407

Prime Medical Office, Net Lease, High Traffic

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 3,600 square foot medical office building in Panama City Beach, Florida, currently 100% occupied by Heartland Dental under a corporate-guaranteed net lease. The property boasts a strong 5.90% cap rate and a substantial NOI of $169,200. Built in 2022, this single-tenant building sits on a 0.79-acre lot and benefits from a highly visible location directly off Panama City Beach Parkway (Highway 98), experiencing 52,000 vehicles per day. The lease, commencing December 1, 2022, and expiring December 30, 2032, offers a remaining term of 8.1 years with built-in rent bumps of 10% every five years and multiple renewal options (4 and 5-year options). The property shares ingress and egress with a Publix-anchored shopping center, surrounded by other national tenants including Home Depot, Office Depot, Dunkin', Chick-fil-A, Lowe's, AutoZone, and Culver's. The strong demographics of Panama City Beach, with a projected population increase of 4-9% in the next five years, and a fifteen-mile radius encompassing 146,000 residents and over 165,300 daytime employees, further enhance the investment potential. The asking price is $2,867,797, translating to $796.61 per square foot. This is a rare opportunity to acquire a stable, high-performing asset in a thriving coastal market.

Highlights

  • 10-Year Heartland Dental corporate-guaranteed net lease.
  • Shared ingress/egress with Publix-anchored shopping center.
  • 10% rent increases every five years with multiple renewal options.
  • Highly visible location on Panama City Beach Parkway (Highway 98), 52,000 vehicles daily.
  • Strong tenant mix including Publix, Home Depot, Office Depot, Dunkin', Chick-fil-A, Lowe's, AutoZone, and Culver's.
  • Projected 4-9% annual population growth within five years.

Property Details for 11130 Panama City Beach Pkwy

Property type
Retail properties, Office properties
Square Feet
3,600 SF
Year Built
2022
Lot Size (sq. ft)
34,412 SF
Units
1

Location Insight

City
Panama City Beach
County
Bay
State
Florida
Latitude
30.1957134
Longitude
-85.8086948
11130 Panama City Beach Pkwy, Panama City Beach, Florida

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11130 Panama City Beach Pkwy
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