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Vacant-User

Family Dollar | New Construction | Panama City FL

7205 US-231, Panama City, FL 32404

Listing Price: $1,736,000

Cap Rate
5.50%
Gross SF
9,180
Rentable SF
9,180
Price/Gross SF
$189.11
Lot Size
1.31 acres
Year Built
2020

Investment Overview

Marcus & Millichap is pleased to present to opportunity to acquire fee simple interest in the Family Dollar located in Panama City Beach, Florida. The subject property is a single-tenant, 9,180 square-foot retail building located just off of US-231 at Noel Rd. Family dollar is one of the most recognizable discount retailers with more than 8,200 stores nationwide, grossing more than 25.5 billion dollars in sales last year. In 2020, the subject property is built on a 1.31 acre plot and has near direct access to US-231. Panama City Beach is a popular vacation location, attracting over 4.5 million visitors each year. Tourists flocked back to Panama City Beach after the Pandemic in 2020. Bed taxes from January to July of 2021 were up 9.5 million dollars from 2018, 50% higher than pre pandemic levels. The pent-up travel demand is predicted to continue to flood the area with tourists far into 2022. The subject property sees many of these tourists as it is situated on US-231, one of the most utilized roads into Panama City Beach with an annual average traffic count of over 27,500 VPD (Over 10 million annually).

Investment Highlights

  • New 2020 Build
  • Investment Grade Tenant | S&P: BBB | Moody's: Baa2
  • Fully Leased to Family Dollar, One of the Most Recognizable & Profitable Small Discount Retailers in the US
  • NN Lease with Approximately 9 Years Left on the Initial Term
  • Over 10 Million Vehicles Pass by Annually
  • Rare Opportunity to Acquire Recession Proof, Investment Grade Retail
  • Strong Client Base Within a 5 Mile Radius
  • Frontage & Visibility on HWY-231 | 31,500 VPD

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Vacant-User

Family Dollar | New Construction | Panama City FL

Listing Price: $1,736,000

Cap Rate
5.50%
Gross SF
9,180
Rentable SF
9,180
Price/Gross SF
$189.11
Lot Size
1.31 acres
Year Built
2020

Investment Highlights

  • New 2020 Build
  • Investment Grade Tenant | S&P: BBB | Moody's: Baa2
  • Fully Leased to Family Dollar, One of the Most Recognizable & Profitable Small Discount Retailers in the US
  • NN Lease with Approximately 9 Years Left on the Initial Term
  • Over 10 Million Vehicles Pass by Annually
  • Rare Opportunity to Acquire Recession Proof, Investment Grade Retail
  • Strong Client Base Within a 5 Mile Radius
  • Frontage & Visibility on HWY-231 | 31,500 VPD

Investment Overview

Marcus & Millichap is pleased to present to opportunity to acquire fee simple interest in the Family Dollar located in Panama City Beach, Florida. The subject property is a single-tenant, 9,180 square-foot retail building located just off of US-231 at Noel Rd. Family dollar is one of the most recognizable discount retailers with more than 8,200 stores nationwide, grossing more than 25.5 billion dollars in sales last year. In 2020, the subject property is built on a 1.31 acre plot and has near direct access to US-231. Panama City Beach is a popular vacation location, attracting over 4.5 million visitors each year. Tourists flocked back to Panama City Beach after the Pandemic in 2020. Bed taxes from January to July of 2021 were up 9.5 million dollars from 2018, 50% higher than pre pandemic levels. The pent-up travel demand is predicted to continue to flood the area with tourists far into 2022. The subject property sees many of these tourists as it is situated on US-231, one of the most utilized roads into Panama City Beach with an annual average traffic count of over 27,500 VPD (Over 10 million annually).

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

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