1602 Martin Luther King Jr Blvd - Light Manufacturing FOR SALE


Panama City, FL 32405- Downtown Panama City
$3,665,000 USD
850-326-1463
1602 Martin Luther King Jr Blvd, Panama City, FL for Sale
$3,665,000 USD
Light Manufacturing - FOR SALE
1/9
null | 6% Cap Rate

1602 Martin Luther King Jr Blvd
Panama City, FL 32405
Downtown Panama City


HIGHLIGHTS

  • Corporate Lease in Place – Fully leased to Avis Car Rental (Corporate) with a percentage rent kicker based on gross sales.
  • Second National Tenant (Undisclosed) – Occupied by a major U.S. brand (identity released under NDA).
  • Stabilized Income Asset – Current NOI of $220,000/year with 6.0% cap rate and long-term tenancy.
  • Strategically positioned on MLK Blvd near Panama City Mall, offering exceptional visibility and traffic exposure.
  • 2.0± Acre Fully Utilized Parcel – Site includes existing 5,000 SF warehouse + 3,000 SF retail/showroom; fully improved and impervious.
  • FDOT improvement plans in progress nearby; ideal for long-term value appreciation.

OVERVIEW

Fully leased to national tenants including Avis Car Rental corporate with percentage rent kicker based on reported sales. A second high-credit tenant—one of the largest in the U.S.—occupies the site (identity available upon NDA). ±2.0-acre high-visibility commercial parcel near Panama City Mall. Excellent frontage, flexibility for future redevelopment or continued cash flow. Priced at $3,665,000 with strong in-place income and development upside.

FOR SALE DETAILS

PRICE

$3,665,000 USD

PRICE/SF

$733 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Flex

PROPERTY SUBTYPE

Light Manufacturing

ADD'L SUBTYPES

Storefront Retail/Office, Warehouse, Service

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1995

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

5

PARKING SPACES

7

LAND DETAILS

LAND ACRES

2

LAND SF

87,120

ZONING

GC

APN/PARCEL ID

14494-000-000

ASK ABOUT THIS PROPERTY

Fletcher DilmorePremier Commercial GroupMore Info
850-326-1463

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Fletcher DilmorePremier Commercial GroupMore Info
850-326-1463

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.