412 Lyndell LnPanama City Beach, FL 32407

Property Details for 412 Lyndell Ln

Year built

2013

Construction

STEEL FRAME

Lot size

0.94 AC

Property size (Sq ft)

9,432 SF

Zone code

BC05

Property type

Retail properties

Property subtype

Retail space

APN

34078-000-000

APU

34078000000

Description

This exceptional investment opportunity presents a fee-simple ownership of a 9,026 square foot Dollar General storefront located at 412 Lyndell Ln, Panama City, FL 32407. The property sits on a 1.43-acre lot and boasts a 100% occupancy rate under a corporate-guaranteed, absolute NNN lease with approximately 3.4 years remaining. The lease, originally commencing March 29, 2013, and expiring March 28, 2028, includes four to five-year option periods with a 10% rent increase at each renewal. The current asking price is $2,223,550, representing a price per square foot of $246.35 and a 6.50% cap rate. The property generates a substantial net operating income (NOI) of $144,531 annually. Dollar General, a Standard & Poor's "BBB" rated investment-grade tenant, operates over 12,500 stores and boasts a net income exceeding $1.25 billion and total assets over $11.6 billion. This asset is ideally suited for a 1031 exchange, offering ease of management and zero landlord responsibilities due to the absolute NNN lease structure. Located in the tax-free state of Florida, within a thriving economy encompassing tourism, finance, retail, services, and healthcare, this property offers a secure, long-term cash flow stream with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,536,738

  6.5%

  $2,341,604

  7%

  $2,174,347

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,689,713

  Geo Method

  $1,689,713

• Alternative Use

  Use

  Valuation

  Residential

  $1,975,231

  Hospitality

  $1,809,301

  Educational

  $1,505,317

  Medical

  $1,557,087

  Retail

  $2,341,604

Location Insight

City

Panama City Beach

County

Bay

State

Florida

Latitude

30.1966

Longitude

-85.8297

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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