2265 Martin Luther King Jr BlvdPanama City, FL 32405

Property Details for 2265 Martin Luther King Jr Blvd

Lot size

0.85 AC

Zone code

PC09

Property type

Commercial land

APN

14602-100-310

APU

14602100310

Description

This exceptional investment opportunity presents a 2,500 square foot Starbucks located at 2265 Martin Luther King Jr Blvd, Panama City, Florida 32405. The property is a single-tenant, absolute NNN net lease with a corporate guarantee from a publicly traded company boasting an investment-grade credit rating (BBB+/stable). The lease commenced August 1st, 2024, and features a 15-year term expiring July 31st, 2039, with a substantial remaining term of approximately 14.7 years. Rent commences July 11th, 2024, and includes a 10% rent increase every five years, ensuring consistent growth in return. The property sits on a 0.85-acre lot and is an outparcel to a Class-A retail power center, benefiting from high visibility and traffic volume (23,500 vehicles per day on N. Cove Blvd). The densely populated market boasts over 84,000 residents within a 5-mile radius. The asking price is $4,000,000, representing a 5.25% cap rate and a net operating income (NOI) of $210,000. This is a rare relocation store, having moved from across the street, indicating strong brand confidence in the location. The building was constructed in 2024 and enjoys 100% occupancy. This is an ideal investment for those seeking a secure, high-performing asset with significant long-term growth potential.

• Alternative Use

  Use

  Valuation

  Residential

  $7,727,621

  Hospitality

  $7,078,460

  Educational

  $5,889,195

  Medical

  $6,091,734

  Retail

  $9,160,970

Location Insight

City

Panama City

County

Bay

State

Florida

Latitude

30.1879

Longitude

-85.6507

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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