507 E 23rd St | Panama City, FL 32405
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- LoopNet Team
507 E 23rd St
Panama City, FL 32405
Mattress Firm · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- High-yield investment opportunity - 6.92% blended cap rate
- Corporate lease structure; Minimal Landlord expense obligations
- Freestanding property; outparcel to a Home Depot and Ross anchored shopping center
- Mattress Firm is paying a low rent of $19.79/ft
- 16% rental increase in 2024; 10% rental increase at the start of the 2nd option
- Infill location surrounded by a dynamic mix of retailers
PROPERTY FACTS
Property Type
Retail
Property Subtype
Freestanding
Building Size
9,640 SF
Building Class
B
Year Built/Renovated
1999/2019
Tenancy
Single
Building Height
1 Story
Building FAR
0.28
Lot Size
0.79 AC
Zoning
GC 1
Parking
30 Spaces (3.11 Spaces per 1,000 SF Leased)
Frontage
PROPERTY TAXES
| Parcel Number | 12976-006-000 | Improvements Assessment | $766,559 |
| Land Assessment | $862,488 | Total Assessment | $1,629,047 |
PROPERTY TAXES
Parcel Number
12976-006-000
Land Assessment
$862,488
Improvements Assessment
$766,559
Total Assessment
$1,629,047
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