1602 Martin Luther King Jr Blvd - Light Manufacturing FOR SALE


Panama City, FL 32405- Downtown Panama City
$1,925,000 USD
850-326-1463
1602 Martin Luther King Jr Blvd, Panama City, FL for Sale
$1,925,000 USD
Light Manufacturing - FOR SALE
1/9
null | 5.2% Cap Rate

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


HIGHLIGHTS

  • Brand-new 10-year corporate NNN lease with Avis Car Rental, minimizing landlord obligations.
  • High-visibility location along a primary Panama City commercial corridor near Panama City Mall.
  • Percentage rent kicker with performance-based upside built into the lease structure.
  • Surrounded by national anchors including Target, Lowe’s, and Home Depot, plus hospitality and dining.
  • Scheduled for opening in May 2026, delivering a fully-leased, turnkey investment asset.
  • 5.2% cap rate with corporate tenant credit offering long-term stability and predictable cash flow.

OVERVIEW

This offering features a newly built, single-tenant property secured by a brand-new, 10-year corporate triple-net lease with Avis Car Rental. Located on ±1.0 acre along Martin Luther King Jr Boulevard, one of Panama City’s most prominent commercial corridors, this investment provides stable income through minimal landlord responsibilities and a corporate guarantee. The lease structure includes additional percentage rent upside tied to store performance, enhancing long-term returns. Surrounding retailers, hotels, and major traffic generators create consistent exposure and support robust tenant sales. Nearby anchors include Panama City Mall, Lowe’s, Target, and national dining brands, ensuring strong retail synergy. Offered at $1,925,000, this asset delivers a 5.2% cap rate on approximately $100,100 NOI, combining predictable income with credit-backed security in a fast-growing region.

FOR SALE DETAILS

PRICE

$1,925,000 USD

PRICE/SF

$526 USD /SF

CAP RATE

5.2%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Panama City Lot

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

CG

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 Notice.