17900 Panama City Beach Parkway
Panama City Beach, FL
Shopping Center for Sale - $1,690,000 - 16,600 Sq. Ft. on 49299.44 acres
Property Info
| CIMLS# | 797144 |
| Location 17900 Panama City Beach Parkway Panama City Beach FL 32413 | |
| Updated | December 20th, 2015 |
| Type | Shopping Center |
| Price | $1,690,000 |
| Building | 16,600 Sq. Ft. |
| Land | 49299.44 acres |
Property Description
Palm Plaza is a 100% occupied, net leased 16,600 square foot multi-tenant retail strip center anchored by a 9,100 square feet Dollar General. The additional tenants are Innovations Federal Credit Union and Beach House Market Furniture. Dollar General and Innovations Federal Credit Union recently completed an early renewals of their lease agreements to extended their lease terms. Dollar General's current lease term is through 8/31/2023 and Innovations current lease term is through 12/31/2019. In addition, Dollar General possess one (1) option to extend for an additional five (5) years . Dollar General reimburses for proportional share of property taxes and insurance. Please call listing broker to discuss lease details and for financials. Palm Plaza is well positioned to serve both tourists and the daily needs of annual residents in a growing market at this successful Panama City Beach location.
Location Description:
The subject property fronts Panama City Beach Parkway (Highway 98) and is located on the rapidly growing west end of Panama City Beach. Panama City Beach Parkway is the the primary east west highway along Florida's northwest Gulf Coast. The retail center is located a half of a mile north of the sugar white sands of Panama City Beach and the Gulf of Mexico, 1.5 miles from Pier Park, Pier Park North and Highway 79 and just minutes from the Northwest Florida Beaches International Airport, Scenic Highway 30-A and the beaches of South Walton County.
Highlights:
>> Net Leased 16,600 sf Multi-Tenant Retail Strip Center
>> 100% Occupied
>> Recent Extension By Dollar General- Current Term thru 8/31/2023
>> Recent Early Extension By Innovations Federal Credit Union - Current Term thru 12/31/2019
>> Located in the epicenter of growth on Panama City Beach
>> Close Proximity to Pier Park & Hwy 79 on the West End of Panama City Beach
>> Excellent Visibility with 266' +/- feet of frontage on Panama City Beach Parkway
>> Convenient Retail Location with Full Access
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Financials
Sales Info:
>> Commision split: 2.5%