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4645 Lindsey Crossing
Panama City, FL 32404
Circle K Ground lease · Retail Property For Sale
Investment Highlights
- New 15-year absolute NNN ground lease to Circle K, one of the largest chains of company-owned convenience stores in the U.S
- Tenant covers all taxes, insurance, maintenance, roof, structure, and parking lot, providing a fully passive investment.
- Circle K is experiencing growth in various areas, including store count, in-store offerings, and fuel site rebranding
- 5% rental increases every five (5) years in initial term and option periods, ensuring consistent income growth
- Circle K operates more than 16,000 locations globally, demonstrating financial stability and brand resilience
Executive Summary
Highly visible and easily accessible location along County Road 390, a primary east-west Panama City retail thoroughfare with approximately 17,000 AADT. The property benefits from a reliable tenancy, as Circle K operates more than 16,000 locations globally, reflecting strong financial stability and brand resilience. The surrounding demographic base is favorable, with a five-mile population of 51,422 and an average annual household income of $132,090 within one mile. The site is surrounded by established multi-family planned communities, including Cherokee Heights, College Point Estates, and Derby Woods. It is positioned as an outparcel to Publix Super Market at Panama City Centre, which attracts over 500,000 visitors annually. The market shows positive growth dynamics, with projected population and income increases across the 1-, 3-, and 5-mile radii over the next five years, supporting continued demand and long-term growth.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
3,956 SF
Building Class
C
Year Built
2026
Price
$4,794,001 CAD
Price Per SF
$1,211.83 CAD
Cap Rate
5%
NOI
$239,700 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
2.41 AC
Parking
21 Spaces (5.31 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 05931-050-020 | Improvements Assessment | $0 CAD |
| Land Assessment | $333,081 CAD | Total Assessment | $333,081 CAD |
Property Taxes
Parcel Number
05931-050-020
Land Assessment
$333,081 CAD
Improvements Assessment
$0 CAD
Total Assessment
$333,081 CAD
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