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Panama City Lot 1602 Martin Luther King Jr Blvd 3,658 SF Flex Building Panama City, FL 32405 $2,676,270 CAD ($731.62 CAD/SF) 5.20% Cap Rate
Investment Highlights
- Brand-new 10-year corporate NNN lease with Avis Car Rental, minimizing landlord obligations.
- Percentage rent kicker with performance-based upside built into the lease structure.
- Scheduled for opening in May 2026, delivering a fully-leased, turnkey investment asset.
- High-visibility location along a primary Panama City commercial corridor near Panama City Mall.
- Surrounded by national anchors including Target, Lowe’s, and Home Depot, plus hospitality and dining.
- 5.2% cap rate with corporate tenant credit offering long-term stability and predictable cash flow.
Executive Summary
This offering features a newly built, single-tenant property secured by a brand-new, 10-year corporate triple-net lease with Avis Car Rental. Located on ±1.0 acre along Martin Luther King Jr Boulevard, one of Panama City’s most prominent commercial corridors, this investment provides stable income through minimal landlord responsibilities and a corporate guarantee. The lease structure includes additional percentage rent upside tied to store performance, enhancing long-term returns. Surrounding retailers, hotels, and major traffic generators create consistent exposure and support robust tenant sales. Nearby anchors include Panama City Mall, Lowe’s, Target, and national dining brands, ensuring strong retail synergy. Offered at $1,925,000, this asset delivers a 5.2% cap rate on approximately $100,100 NOI, combining predictable income with credit-backed security in a fast-growing region.
Financial Summary (Actual - 2024) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
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-
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| Other Income |
-
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-
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| Vacancy Loss |
-
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-
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| Effective Gross Income |
-
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-
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| Net Operating Income |
$99,999
|
$9.99
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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
Amenities
- 24 Hour Access
- Signage
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 14494-000-000 | Improvements Assessment | $132,445 CAD (2025) |
| Land Assessment | $167,135 CAD (2025) | Total Assessment | $299,580 CAD (2025) |
Property Taxes
Parcel Number
14494-000-000
Land Assessment
$167,135 CAD (2025)
Improvements Assessment
$132,445 CAD (2025)
Total Assessment
$299,580 CAD (2025)
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Panama City Lot | 1602 Martin Luther King Jr Blvd
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