15737 Panama City Beach PkwyPanama City Beach, FL 32413

Property Details for 15737 Panama City Beach Pkwy

Lot size

1.35 AC

Zone code

PCB22

Property type

Land

Property subtype

Commercial land

APN

33750-160-000

APU

33750160000

Description

This exceptional investment opportunity presents a fee-simple interest in a Ruby Tuesday restaurant located at 15737 Panama City Beach Pkwy, Panama City Beach, FL 32413. The 5,066 square foot building, constructed in 2025, sits on a 1.35-acre lot with 77 parking spaces and benefits from a new 15-year absolute NNN lease with four 5-year renewal options. The lease includes a 10% rental increase every five years, ensuring consistent NOI growth and inflation protection. The property boasts a 6.50% cap rate and a current NOI of $300,000, reflecting a strong return on investment. Its prime location on a signalized, hard-corner intersection of Panama City Beach Parkway and Pier Park Drive, a major retail thoroughfare, ensures high visibility and accessibility. The site is an outparcel to the 50+ acre Pier Park shopping center, anchored by national tenants such as Target and Dillard's, and is near Pier Park North, further enhancing its strategic position within a thriving retail corridor. The surrounding area features a dense concentration of national retailers and boasts strong demographics, with a 5-mile trade area population exceeding 23,300 residents and an average household income of $115,433. This property offers a management-free investment opportunity with significant upside potential, backed by a corporate guarantee from Ruby Tuesday, Inc. The 100% occupancy and strong tenant commitment make this a compelling addition to any portfolio.

• Alternative Use

  Use

  Valuation

  Residential

  $12,342,006

  Hospitality

  $11,305,211

  Educational

  $9,405,803

  Medical

  $9,729,283

  Retail

  $14,631,248

Location Insight

City

Panama City Beach

County

Bay

State

Florida

Latitude

30.2232

Longitude

-85.8713

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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