For Sale
$4,615,000

15737 Panama City Beach PkwyPanama City Beach, FL 32413

Prime Retail Investment, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
114
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.

Highlights

  • 15-Year Corporate Lease with 10% annual rent increases and extension options.
  • Absolute NNN lease; fee simple ownership; no landlord responsibilities.
  • Hard corner location on a signalized intersection (41,500 vehicles per day) with excellent visibility and access within a 50+ acre retail center.
  • Located in Pier Park North, a major retail corridor within a 50+ acre retail development anchored by strong national credit tenants.
  • Strong demographics and tourism within a 5-mile radius.

Property Details for 15737 Panama City Beach Pkwy

Property type
Retail properties, Restaurants
Square Feet
5,066 SF
Year Built
2025
Buildings
1
Lot Size (sq. ft)
58,806 SF

Location Insight

City
Panama City Beach
County
Bay
State
Florida
Latitude
30.223168
Longitude
-85.871308
15737 Panama City Beach Pkwy, Panama City Beach, Florida

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15737 Panama City Beach Pkwy
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