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Shopping Strip

Village of Grand Panama

11501 Hutchison Blvd, Panama City Beach, FL 32407

Listing Price: $9,990,000

Cap Rate
7.25%
Gross SF
46,141
Rentable SF
46,141
Price/Gross SF
$216.51
Lot Size
5.01 acres
Year Built
2006

Investment Overview

Marcus & Millichap is pleased to be the exclusive advisor for The Village of Grand Panama. The 34,955 square foot Oceanview subject property is an acclaimed, mixed-use resort destination development of Grand Panama, located in the heart of Panama City Beachs business and tourist district. Conveniently located to serve the established daytime employment center, cater to the areas seasonal visitors and the rapidly expanding population in the immediate area. Diverse tenant mix includes national, medical, and service oriented tenants all on triple net leases with pro rata share language. Panama City Beach is experiencing a tremendous increase in new residents and explosive retail developments such as Pier Park Mall, an outdoor mixed use Simon Mall. The adjacent rear parcel has been approved for a 290 unit high scale ocean view high scale condominium complex. Construction has commenced and tentative delivery date is early 2022.

Investment Highlights

  • Oceanview Multi Tenant Retail Location
  • Triple Net Leases With Pro Rata Share Clauses
  • Value Add Opportunity Through Lease Up
  • Population of Over 30,000 Median HH Income of Over $62,000 in 5 Mile Radius
  • Unique National, Medical, and Service Tenant Mix
  • Located On Major Retail Artery in Submarket

Exclusively Listed By

Financing By

Listing Price: $9,990,000

Cap Rate
7.25%
Gross SF
46,141
Rentable SF
46,141
Price/Gross SF
$216.51
Lot Size
5.01 acres
Year Built
2006

Investment Highlights

  • Oceanview Multi Tenant Retail Location
  • Triple Net Leases With Pro Rata Share Clauses
  • Value Add Opportunity Through Lease Up
  • Population of Over 30,000 Median HH Income of Over $62,000 in 5 Mile Radius
  • Unique National, Medical, and Service Tenant Mix
  • Located On Major Retail Artery in Submarket

Investment Overview

Marcus & Millichap is pleased to be the exclusive advisor for The Village of Grand Panama. The 34,955 square foot Oceanview subject property is an acclaimed, mixed-use resort destination development of Grand Panama, located in the heart of Panama City Beachs business and tourist district. Conveniently located to serve the established daytime employment center, cater to the areas seasonal visitors and the rapidly expanding population in the immediate area. Diverse tenant mix includes national, medical, and service oriented tenants all on triple net leases with pro rata share language. Panama City Beach is experiencing a tremendous increase in new residents and explosive retail developments such as Pier Park Mall, an outdoor mixed use Simon Mall. The adjacent rear parcel has been approved for a 290 unit high scale ocean view high scale condominium complex. Construction has commenced and tentative delivery date is early 2022.

Exclusively Listed By

Financing By

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