1415 Frankford AvePanama City, FL 32401

Property Details for 1415 Frankford Ave

Lot size

0.59 AC

Zone code

PC09

Property type

Commercial land

APN

29639-000-000

APU

29639000000

Description

This exceptional investment opportunity features a brand-new, 7,020-square-foot, single-tenant building occupied by Safelite AutoGlass in Panama City, Florida. Built in 2024, this free-standing structure boasts a 20-year roof warranty and is situated on a 1.09-acre corner lot at a signalized intersection, providing excellent visibility and accessibility. The property benefits from a strong location near the heart of the retail trade area with direct access to Highway 98 (W 15th Street), experiencing a high traffic count of 39,600 AADT. The building includes five garage bays and is zoned for general commercial use. The current lease, a Net Lease (NNN) with a corporate guarantee, has a remaining term of 9.5 years, expiring May 31, 2034, with two five-year renewal options. Rent increases are built in, with an 8% bump every five years. The property offers a compelling 6.00% cap rate and a substantial net operating income (NOI) of $241,768. This is a rare opportunity to acquire a high-quality, passively managed investment with a strong tenant and significant long-term growth potential. The property's APN is 29639-000-000 & 29640-000-000. The asking price is $4,029,480.

Location Insight

City

Panama City

County

Bay

State

Florida

Latitude

30.175

Longitude

-85.6925

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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