8002 County RdPanama City, FL 32413

Property Details for 8002 County Rd

Year built

2013

Lot size

1.40 AC

Property type

Industrial properties

Property subtype

Self storage facilities

Description

This exceptional self-storage facility in Panama City Beach, Florida, presents a compelling investment opportunity. Boasting 16,456 net rentable square feet across six single-story buildings, this property features 68 units and enjoys a 71% occupancy rate. Built in 2013 and renovated in 2022, the facility sits on a 1.4-acre lot with a permitted commercial zoning designation. The property's strong financial performance is highlighted by a pro-forma NOI of $161,554 and a pro-forma cap rate of 7.02%, with an asking price of $2,300,000 ($33,823.53 per unit). Its strategic location just off FL-79, a major thoroughfare with high daily traffic counts, ensures excellent visibility and accessibility. The proximity to Panama City Beach Airport and the upscale 30A area provides a consistent customer base, further enhanced by the absence of competing facilities within a five-mile radius. The surrounding area is experiencing significant growth, including the development of Latitude Margaritaville, a planned community of 3,500 homes, promising continued economic expansion and population growth. The average household income within a five-mile radius is significantly higher than the national average, indicating a strong and stable market for self-storage services. This fee-simple ownership opportunity offers a rare combination of strong financial performance, prime location, and significant growth potential. The property's address is split between 8002 and 8024 County Rd 388, Panama City/Panama City Beach, FL 32413. APN numbers are 32600-000-000 and 32601-00-000.

Location Insight

City

Panama City

County

Bay

State

Florida

Latitude

30.298

Longitude

-85.8477

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