5311 Fl-22Panama City, FL 32404

Property Details for 5311 Fl-22

Lot size

0.71 AC

Property size (Sq ft)

4,004 SF

Property type

Specialty properties

Property subtype

Other specialty properties

Description

This exceptional investment opportunity presents a fully leased, single-story school building in Panama City, Florida. The 4,004-square-foot property, situated on a 0.71-acre lot, boasts a recently completed (2023) renovation, ensuring modern functionality and aesthetics. Currently operating under a triple-net (NNN) lease with a single tenant, the property offers a stable and predictable income stream. The lease commenced April 15, 2024, and extends to July 15, 2027, representing a remaining term of approximately 2.6 years. The building features seven classrooms, five restrooms, and ample support facilities, all designed to meet the needs of an educational institution. The property includes a generous off-street parking lot and a fully fenced area, enhancing safety and security. The asking price is $720,000, representing an attractive 8.34% cap rate based on a net operating income (NOI) of $60,060. The lease includes a 3% annual rent bump, providing built-in growth potential. The property is zoned General Commercial 1 and has a Bay County APN of 24453-000-000. This turnkey investment offers a compelling opportunity for passive income generation in a growing market. The property's modern design, reliable tenant, and strong financial performance make it an ideal addition to any investment portfolio. The building's upgrades include new flooring, windows, doors, and lighting.

Location Insight

City

Panama City

County

Bay

State

Florida

Latitude

30.153

Longitude

-85.5947

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].