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1136 Thomas Dr

Panama City, FL 32408

$2,100,000

Restaurant For Sale  •  5,422 Sq Ft

Property Details

  • Property Type Restaurant
  • Total Building Size 5,422 Sq Ft
  • Lot Size 0.67 ac
  • Building Class B
  • Year Built 2008
  • Cap Rate 2.86 %
  • Tenancy Single
  • Zoning C3, GC
19 Transit Score
29 Walk Score

Description

The property consists of 5,422 square feet of rentable space currently occupied by Dick's Wings. The building consists of both inside and outside dining, plus ample parking and excellent signage on Thomas drive. The property is located directly across from the Naval Coastal Systems Center. Thomas Drive is the main tourist artery that serves the east end of Panama City Beach. Other retail in the area include Egg & I Restaurant, PC Beach Yoga, Dunkin Donuts, Burger King, Rupert's Cleaners, Bruster's Ice Cream, Rose’s Nails, and also Laquinta Hotel. Dick’s Wings is currently in their final year of a 3 year lease.  The building is available to lease on 1 July 2018 but can be purchased at any time.  The triple net lease amount is $5,000 per month.  Dick's Wings has a 3 year option starting 1 July 2018 at $7,200 per month.

Highlights

Located on Thomas Drive (Main Artery to Panama City Beach)
Located Across from The Naval Coastal Systems Center
Available for New Tenant on 1 July 2018

Financial Summary (Actual)

Net Operating Income: $60,000 (2017)
Cap Rate: 2.86 %
Total Expenses: $0

Major Tenants

Tenant SF Occupied Lease End Date
Dick's Wings 5,422 SF

Amenities

  • Dedicated Turn Lane
  • Signalized Intersection

Public Transportation

AirportDriveWalkDistance
Northwest Florida Beaches International Airport 29 min - 21.1 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 38
Type: Surface
Included in Rent: Yes
Ken Varnes 850-896-0910 Rainier Properties
Ken Varnes 850-896-0910 Rainier Properties