1602 Martin Luther King Jr Blvd - Light Distribution FOR SALE


Panama City, FL 32405- Downtown Panama City
$1,085,000 USD
850-326-1463
1602 Martin Luther King Jr Blvd, Panama City, FL for Sale
$1,085,000 USD
Light Distribution - FOR SALE
1/2
null | 10% Cap Rate

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


HIGHLIGHTS

  • Single-tenant property leased to Amazon under a NNN structure, delivering minimal landlord responsibilities.
  • 10% in-place cap rate supported by approximately $108,500 NOI and day-one yield performance.
  • ±1.3 years remaining on the lease with an expected 2-year renewal option backed by nearby fulfillment hub expansion.
  • Located adjacent to Panama City Mall in a high-visibility logistics and retail corridor with strong traffic counts.
  • Surrounding area includes leading national anchors, hospitality, and dining, reinforcing long-term viability.
  • Offered at $1,085,000, providing a compelling investment for net-lease and 1031 exchange buyers.

OVERVIEW

This single-tenant property, located at 1602 MLK Jr Boulevard in Panama City, Florida, represents a strong investment opportunity anchored by Amazon, a global leader in logistics. Positioned on ±2.0 acres within one of Panama City’s most active commercial corridors, the asset delivers stable in-place income with a 10% cap rate based on approximately $108,500 of annual NOI. The site offers exceptional renewal potential, supported by the ongoing development of an Amazon fulfillment center nearby, which enhances the facility’s role as a last-mile or logistics-support location. The property benefits from its high visibility along MLK Jr Boulevard, a primary thoroughfare near Panama City Mall, national retailers, and key transportation routes that connect the city’s growing consumer base. With ±1.3 years remaining on the current lease and an anticipated two-year renewal option, purchasers gain predictable cash flow and meaningful upside from potential extensions. Ideal for investors seeking long-term stability and alignment with e-commerce growth, this offering provides an attractive small-check entry point with institutional credit tenancy.

FOR SALE DETAILS

PRICE

$1,085,000 USD

PRICE/SF

$199 USD /SF

CAP RATE

10%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Amazon

PROPERTY TYPE

Flex

PROPERTY SUBTYPE

Light Distribution

ADD'L SUBTYPES

Storefront Retail/Office, Warehouse, Service

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1995

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.87

LAND SF

81,457

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.