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252 N Tyndall Pky - Tidal Wave Auto Spa 3,721 SF Specialty Building Offered at $6,228,137 at a 5.85% Cap Rate in Panama City, FL 32404
Investment Highlights
- Strong Site Level Performance
- Corporate Guarantee From Tidal Wave
- Excellent Traffic Counts
- 100% Bonus Depreciation
- Long Term NNN Lease With 2% Annual Increases
- Demographics
Executive Summary
Surmount is pleased to present the exclusive listing for a Tidal Wave Auto Spa located at 252 North Tyndall Parkway, Panama City, FL 32404. The site consists of roughly 6,664 rentable square feet of building space on an estimated .69-acre parcel of land. Tidal Wave Auto Spa is subject to a 20-year Triple Net (NNN) lease, which commenced 7/15/2022. The current annual rent is $364,346 and has scheduled increases of 2.00% Annually.
Property Facts
| Price | $6,228,137 | Building Class | B |
| Price Per SF | $934.59 | Lot Size | 0.69 AC |
| Sale Type | Investment NNN | Building Size | 6,664 SF |
| Cap Rate | 5.85% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 1985 |
| Property Subtype | Car Wash | ||
| Zoning | COM-1 | ||
| Price | $6,228,137 |
| Price Per SF | $934.59 |
| Sale Type | Investment NNN |
| Cap Rate | 5.85% |
| Property Type | Specialty |
| Property Subtype | Car Wash |
| Building Class | B |
| Lot Size | 0.69 AC |
| Building Size | 6,664 SF |
| No. Stories | 1 |
| Year Built | 1985 |
| Zoning | COM-1 |
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Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 06091-025-000 | Improvements Assessment | $86,725 |
| Land Assessment | $239,057 | Total Assessment | $325,782 |
Property Taxes
Parcel Number
06091-025-000
Land Assessment
$239,057
Improvements Assessment
$86,725
Total Assessment
$325,782
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