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Panama City Lot 1602 Martin Luther King Jr Blvd 8,000 SF Flex Building Panama City, FL 32405 $3,759,388 CAD ($469.92 CAD/SF) 8% Cap Rate

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Investment Highlights

Corporate Lease in Place – Fully leased to Avis Car Rental (Corporate) with a percentage rent kicker based on gross sales.
Stabilized Income Asset – Current NOI of $220,000/year with 8% cap rate and long-term tenancy.
2.0± Acre Fully Utilized Parcel – Site includes existing 5,000 SF warehouse + 3,000 SF retail/showroom; fully improved and impervious.

Second National Tenant (Undisclosed) – Occupied by a major U.S. brand (identity released under NDA).
Strategically positioned on MLK Blvd near Panama City Mall, offering exceptional visibility and traffic exposure.
FDOT improvement plans in progress nearby; ideal for long-term value appreciation.

Executive Summary

Fully leased to national tenants including Avis Car Rental corporate with percentage rent kicker based on reported sales. A second high-credit tenant—one of the largest in the U.S.—occupies the site (identity available upon NDA). ±2.0-acre high-visibility commercial parcel near Panama City Mall. Excellent frontage, flexibility for future redevelopment or continued cash flow. Priced at $2,750,000 with strong in-place income and development upside.

1602 MLK PCB

Financial Summary (Actual - 2024) Click Here to Access	Annual (CAD)	Annual Per SF (CAD)
Gross Rental Income	-	-
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	-	-
Net Operating Income	$99,999	$9.99

Financial Summary (Actual - 2024) Click Here to Access

Gross Rental Income (CAD)
Annual	-
Annual Per SF	-

Other Income (CAD)
Annual	-
Annual Per SF	-

Vacancy Loss (CAD)
Annual	-
Annual Per SF	-

Effective Gross Income (CAD)
Annual	-
Annual Per SF	-

Net Operating Income (CAD)
Annual	$99,999
Annual Per SF	$9.99

Property Facts

Price	$3,759,388 CAD	Rentable Building Area	8,000 SF
Price Per SF	$469.92 CAD	No. Stories	1
Sale Type	Investment or Owner User	Year Built	1995
Cap Rate	8%	Tenancy	Single
Property Type	Flex	Parking Ratio	0.88/1,000 SF
Property Subtype	Light Manufacturing General Retail Storefront Retail/Office Industrial Warehouse Industrial Service	No. Drive In / Grade-Level Doors	5
Building Class	C	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Lot Size	2.00 AC
Zoning	GC - General Commercial

Price	$3,759,388 CAD
Price Per SF	$469.92 CAD
Sale Type	Investment or Owner User
Cap Rate	8%
Property Type	Flex
Property Subtype	Light Manufacturing General Retail Storefront Retail/Office Industrial Warehouse Industrial Service
Building Class	C
Lot Size	2.00 AC
Rentable Building Area	8,000 SF
No. Stories	1
Year Built	1995
Tenancy	Single
Parking Ratio	0.88/1,000 SF
No. Drive In / Grade-Level Doors	5
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	GC - General Commercial