500 Hawkins AvePanama City, FL 32405

Property Details for 500 Hawkins Ave

Year built

2022

Property size (Sq ft)

31,540 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional Class A retail property, the Shops at Bay City Point, presents a compelling investment opportunity. Located at 500 Hawkins Ave, Panama City, FL 32405, this 31,540 square foot shopping center boasts a 100% occupancy rate with a strong national tenant lineup including Xfinity, Vitamin Shoppe, Smile Doctor, and Chicken Salad Chick, among others. All tenants signed long-term leases (7-year weighted average lease term) within the past year, ensuring a stabilized investment with a substantial net operating income (NOI) of $635,305 and a 7.25% cap rate. The asking price is $8,765,000. Built in 2022, this new construction strip center is strategically positioned within the Bay City Point Development, a thriving 24+ acre retail hub. This prime location benefits from its proximity to a Class A power center anchored by national retailers such as Hobby Lobby, Burlington, Five Below, Ulta, and Sketchers, as well as numerous outparcel tenants including McDonald's, Chick-fil-A, and more. The property sits across from the Panama City Mall, a large mixed-use development currently undergoing redevelopment. The high-traffic intersection (E 23rd Street and SR-77) ensures significant visibility and accessibility, with over 3 million square feet of retail within a one-mile radius. This is a rare opportunity to acquire a high-performing, stabilized retail asset in a rapidly growing market. The property's APN is 14602-100-250.

Location Insight

City

Panama City

County

Bay

State

Florida

Latitude

30.1881

Longitude

-85.6539

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