Auto Parts
Automotive Repair Industrial Warehouse
604 Gardenia St, Panama City Beach, FL 32407
Listing Price: $428,000
Investment Overview
Marcus & Millichap is pleased to present an Absolute NNN Industrial and Automotive Warehouse Opportunity located at 604 Gardenia Street in the heart of Panama City Beach, FL. Built in 1995, the 2,400 sqft Industrial and automotive repair building sits on .30 acres. The site location is in proximity to national retailers including Walmart, Lowe's, Publix, among many others. The Panama City Beach Market is expected to see 14.7% Population Growth and 15.7% Household Growth in the surrounding area by 2029.
The Tenant in place has a 20 Year Base Term with Three (3) - 5 Year Options for renewal. They are currently paying $30,000 a year in NOI and have 12% rental escalations every 5 years. Additionally, the absolute net lease calls no Landlord Responsibilities, boasting a great investment opportunity in a high growth Florida market for many years to come.
Automotive Repair Industrial Warehouse
Investment Highlights
- 20 year current base term with 19+/- years remaining
- A Prime Industrial and Automotive Repair Business with operating success in the Panama City Beach Market
- Three additional Five-Yr Options with 12% increases every Five Years throughout Base Term and Options
Listing Price: $428,000
Investment Highlights
- 20 year current base term with 19+/- years remaining
- A Prime Industrial and Automotive Repair Business with operating success in the Panama City Beach Market
- Three additional Five-Yr Options with 12% increases every Five Years throughout Base Term and Options
Investment Overview
Marcus & Millichap is pleased to present an Absolute NNN Industrial and Automotive Warehouse Opportunity located at 604 Gardenia Street in the heart of Panama City Beach, FL. Built in 1995, the 2,400 sqft Industrial and automotive repair building sits on .30 acres. The site location is in proximity to national retailers including Walmart, Lowe's, Publix, among many others. The Panama City Beach Market is expected to see 14.7% Population Growth and 15.7% Household Growth in the surrounding area by 2029. The Tenant in place has a 20 Year Base Term with Three (3) - 5 Year Options for renewal. They are currently paying $30,000 a year in NOI and have 12% rental escalations every 5 years. Additionally, the absolute net lease calls no Landlord Responsibilities, boasting a great investment opportunity in a high growth Florida market for many years to come.
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.