Restaurant

McDonald's Ground Lease

2263 Martin Luther King Jr Blvd, Panama City, FL 32405

Listing Price: $2,130,000

Cap Rate
4.00%
Tenant Name
McDonald's
Years Remaining On Lease
19.8
Gross SF
4,455
Guarantor
Corporate Guarantee
Rentable SF
4,455
Price/Gross SF
$478.11
Lease Type
NNN Ground Lease
Rent Per Square Feet
$19.12

Investment Overview

The subject property is brand new McDonald’s restaurant located as an outlot to the 170,000+ square foot retail development known as Bay City Point in Panama City, FL. This is a rare relocation store for McDonald’s who have been operating an existing restaurant just ¼ mile away for over 30 years. The 1.10+/- acre parcel is ideally positioned at the signalized entrance into the shopping center with excellent visibility and access to the 23,500 vehicles per day. McDonald’s is signed to a new 20-year NNN ground lease that commenced in November, 2020. Construction is scheduled to commence in February, 2021 with an expected opening in May, 2021. The landlord friendly lease features fixed 10% rental increases every 5 years. The NNN ground lease structure provides for no landlord responsibilities or expenses.

Investment Highlights

  • BRAND NEW 2021 CONSTRUCTION | RENT COMMENCED IN NOVEMBER, 2020
  • RARE RELOCATION STORE FROM JUST 1/4 MILE AWAY
  • 1.10+/- ACRE LOT AT ENTRANCE INTO 170,000+ SF POWER CENTER
  • 20-YEAR NNN GROUND LEASE
  • 10% INCREASES EVERY 5 YEARS
  • OUTLOT TO BAY CITY POINT | ANCHORED BY HOPPY LOBBY, BURLINGTON, 5 BELOW AND ULTA

Exclusively Listed By

  • Robby Pfeiffer

    Senior Vice President Investments

    Email Robby

    License(s): GA: 281335, AL: 000091407-1

    Atlanta

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    License(s): FL: BK3154667

    Florida

Listing Price: $2,130,000

Cap Rate
4.00%
Tenant Name
McDonald's
Years Remaining On Lease
19.8
Gross SF
4,455
Guarantor
Corporate Guarantee
Rentable SF
4,455
Price/Gross SF
$478.11
Lease Type
NNN Ground Lease
Rent Per Square Feet
$19.12

Investment Highlights

  • BRAND NEW 2021 CONSTRUCTION | RENT COMMENCED IN NOVEMBER, 2020
  • RARE RELOCATION STORE FROM JUST 1/4 MILE AWAY
  • 1.10+/- ACRE LOT AT ENTRANCE INTO 170,000+ SF POWER CENTER
  • 20-YEAR NNN GROUND LEASE
  • 10% INCREASES EVERY 5 YEARS
  • OUTLOT TO BAY CITY POINT | ANCHORED BY HOPPY LOBBY, BURLINGTON, 5 BELOW AND ULTA

Investment Overview

The subject property is brand new McDonald’s restaurant located as an outlot to the 170,000+ square foot retail development known as Bay City Point in Panama City, FL. This is a rare relocation store for McDonald’s who have been operating an existing restaurant just ¼ mile away for over 30 years. The 1.10+/- acre parcel is ideally positioned at the signalized entrance into the shopping center with excellent visibility and access to the 23,500 vehicles per day. McDonald’s is signed to a new 20-year NNN ground lease that commenced in November, 2020. Construction is scheduled to commence in February, 2021 with an expected opening in May, 2021. The landlord friendly lease features fixed 10% rental increases every 5 years. The NNN ground lease structure provides for no landlord responsibilities or expenses.

Exclusively Listed By

  • Robby Pfeiffer

    Senior Vice President Investments

    Email Robby

    License(s): GA: 281335, AL: 000091407-1

    Atlanta

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    License(s): FL: BK3154667

    Florida

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