7625 Front Beach RdPanama City Beach, FL 32407

Property Details for 7625 Front Beach Rd

Year built

2022

Lot size

2.00 AC

Property size (Sq ft)

6,365 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

Exceptional investment opportunity: This 6,365 square foot, absolute NNN leased convenience store and gas station boasts a 17.4-year remaining lease term (20-year initial term commencing April 9, 2022, expiring April 8, 2042) with 7% rent bumps every five years and two five-year renewal options. The property, situated on a highly visible, two-acre parcel on Front Beach Road in Panama City Beach, Florida, includes a 4,928 square foot convenience store, a 1,437 square foot automated carwash, five vacuum stations, and sixteen fueling stations. Built in 2022, this property generates a strong NOI of $660,000, representing a 5.50% cap rate on the $12,000,000 asking price ($1,885.31 per square foot). The strong tenant, backed by a guarantor with a net worth exceeding $66,000,000, ensures a secure investment. The property benefits from its prime location near major retailers such as Walmart, Home Depot, Lowe's, Publix, and Winn-Dixie, as well as higher education institutions including Gulf Coast State College and Florida State University Panama City. This turnkey operation offers a compelling combination of strong cash flow, long-term lease security, and a desirable location in a thriving retail corridor. The property's 100% occupancy further solidifies its value as a stable and profitable investment.

Location Insight

City

Panama City Beach

County

Bay

State

Florida

Latitude

30.1867

Longitude

-85.7694

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