12 Thomas Dr
Panama City Beach, FL 32408
Price:
$2,520,000
Cap Rate:
5.00%
NOI:
$126,000
Building Size:
Approx. 2,824 Sq. Ft.
Lot Size:
Approx. 1.06 Acres
Type:
Single-Tenant / Retail
Sub Category:
Convenience / Gas
Year Built:
2024
Investment Overview
- 2024 Construction. 2,824+/- SF Building on 1.05+/- Acre Site
- 20-Year Absolute NNN Ground Lease With Corporate Guarantee and 8% Rental Increases Every 5 Years
- Located on a High-Traffic, Large Corner Parcel (51,000+ VPD, 1.06 Acres) at Panama City Beach Pkwy and Thomas Dr
- Key Location | Last Gas Station Before Crossing the Hathaway Bridge Into Panama City
- Tourist Appeal | Panama City Drew 4.5M Visitors and Generated $3 Billion+ of Tourism Revenue in 2023
- Murphy USA is a Leading Retailer of Gasoline & Convenience Merchandise – Over $25.45B in Revenue
- Panama City | Annually Attracts 4.5M Visitors | Population: 34,045+