11049 Hutchison BlvdPanama City Beach, FL 32407

Property Details for 11049 Hutchison Blvd

Lot size

0.64 AC

Zone code

PCB22

Property type

Land

Property subtype

Commercial land

APN

34779-011-030

APU

34779011030

Description

This exceptional Panama City Beach, FL storefront presents a compelling investment opportunity. The 3,100 square foot, Class A property, located at 11049 Hutchison Blvd (APN 34779-011-030), boasts a 15-year net lease with Sunburn, a corporate-guaranteed tenant, commencing July 1, 2024, and expiring June 30, 2039. The lease includes 3% annual rent bumps and four to five-year renewal options. The current NOI is $270,000, yielding a 7.71% cap rate, with a purchase price of $3,500,000 ($1,129.03/sq ft). The property sits on a 0.64-acre lot, zoned T-3, and benefits from a high traffic count of 28,000 cars daily. The building, constructed in 2024, is a Sunburn prototype featuring a safe room and a $90,000 glass display. The landlord's responsibilities are limited to property taxes, with reimbursement from the tenant. Over $500,000 in tenant improvements were completed by the developer. This single-story building offers significant potential for long-term passive income and appreciation in a rapidly growing market. The property is fee simple ownership.

• Alternative Use

  Use

  Valuation

  Residential

  $5,830,301

  Hospitality

  $5,340,524

  Educational

  $4,443,254

  Medical

  $4,596,064

  Retail

  $6,911,728

Location Insight

City

Panama City Beach

County

Bay

State

Florida

Latitude

30.1852

Longitude

-85.812

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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