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Shopping Strip

Shops At Bay City Point

510 E 23rd St, Panama City, FL 32405

Listing Price: $8,555,000

Cap Rate
7.25%
Gross SF
21,540
Rentable SF
21,540
Price/Gross SF
$397.17
Lot Size
2.31 acres
Year Built
2022

Investment Overview

CLASS-A NEW CONSTRUCTION STRIP CENTER
• Bay City Point Shops is a 21,540 square foot new construction strip center located in Panama City, FL
• These shops are part of the Bay City Point Development, a brand new 24+ acre retail development
• The development encompasses a new construction power center, multiple outparcels leased to national investment grade tenants, and is across from Panama City Mall currently undergoing a redevelopment.
• In addition to being shadow anchored by a Class-A Power Center, these shops are positioned in the heart of the major retail corridor of Panama City
• National Tenant Lineup

BAY CITY POINT DEVELOPMENT
• Bay City Point is a new development in the heart of Panama City that finalized construction in 2023
• The power center, recently sold to an institutional investor, includes Hobby Lobby, Burlington, Five Below, Ulta, & Sketchers
• Outparcel tenants include McDonald’s, Chick Fil A, Dunkin’, Chipotle, Aspen Dental, Which Which, Cracker Barrell, Panda Express, Discount Tire, and more
• Across from Bay City Point is the Panama City Mall, a 600,000+ sf commercial proves that will comprise a mixed use development with retail, office, multifamily, and a hotel

NATIONAL TENANT LINEUP STABILIZED WITH LONG TERM LEASES
• Bay City Point Shops has a national tenant lineup that includes Xfinity, Vitamin Shoppe, Blaze Pizza, and Chicken Salad Chick, and more
• Each tenant signed its long-term lease in the last 12 months
• The property is 100% stabilized
• Weighted Average Lease Term (WALT): 8 Years

HEART OF MAJOR RETAIL CORRIDOR
• Bay City Point is located at the epicenter of the major retail corridor in Panama City Beach
• 3M Square feet of retail in 1-Mile Radius
• Surrounding Tenants Include
• High Traffic Intersection: Located at corner of E 23rd Street (35,000 VPD) & SR-77 (28,000 VPD)

Investment Highlights

  • Class-A New Construction
  • Shadow To New Power Center
  • WALT: 8 Years
  • Positioned In Major Retail Corridor 3M Square Feet Of Retail In 1-Mile Radius
  • #1 Most Visited Retail Center In 50 Mile Radius
  • Coastal Florida Location

Exclusively Listed By

Broker of Record

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Financing By

Shopping Strip

Shops At Bay City Point

Listing Price: $8,555,000

Cap Rate
7.25%
Gross SF
21,540
Rentable SF
21,540
Price/Gross SF
$397.17
Lot Size
2.31 acres
Year Built
2022

Investment Highlights

  • Class-A New Construction
  • Shadow To New Power Center
  • WALT: 8 Years
  • Positioned In Major Retail Corridor 3M Square Feet Of Retail In 1-Mile Radius
  • #1 Most Visited Retail Center In 50 Mile Radius
  • Coastal Florida Location

Investment Overview

CLASS-A NEW CONSTRUCTION STRIP CENTER • Bay City Point Shops is a 21,540 square foot new construction strip center located in Panama City, FL • These shops are part of the Bay City Point Development, a brand new 24+ acre retail development • The development encompasses a new construction power center, multiple outparcels leased to national investment grade tenants, and is across from Panama City Mall currently undergoing a redevelopment. • In addition to being shadow anchored by a Class-A Power Center, these shops are positioned in the heart of the major retail corridor of Panama City • National Tenant Lineup BAY CITY POINT DEVELOPMENT • Bay City Point is a new development in the heart of Panama City that finalized construction in 2023 • The power center, recently sold to an institutional investor, includes Hobby Lobby, Burlington, Five Below, Ulta, & Sketchers • Outparcel tenants include McDonald’s, Chick Fil A, Dunkin’, Chipotle, Aspen Dental, Which Which, Cracker Barrell, Panda Express, Discount Tire, and more • Across from Bay City Point is the Panama City Mall, a 600,000+ sf commercial proves that will comprise a mixed use development with retail, office, multifamily, and a hotel NATIONAL TENANT LINEUP STABILIZED WITH LONG TERM LEASES • Bay City Point Shops has a national tenant lineup that includes Xfinity, Vitamin Shoppe, Blaze Pizza, and Chicken Salad Chick, and more • Each tenant signed its long-term lease in the last 12 months • The property is 100% stabilized • Weighted Average Lease Term (WALT): 8 Years HEART OF MAJOR RETAIL CORRIDOR • Bay City Point is located at the epicenter of the major retail corridor in Panama City Beach • 3M Square feet of retail in 1-Mile Radius • Surrounding Tenants Include • High Traffic Intersection: Located at corner of E 23rd Street (35,000 VPD) & SR-77 (28,000 VPD)

Exclusively Listed By

Broker of Record

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

Financing By

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