Shops At Bay City Point

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510 E 23RD Street
Panama City, FL

Price: $8,555,000

Cap: 7.25%

NOI: $620,185

Building Size: 21,540 SF

Lot Size: 2.31 AC

Investment Highlights

CLASS-A NEW CONSTRUCTION STRIP CENTER

• Bay City Point Shops is a 21,540 square foot new construction strip center located in Panama City, FL

• These shops are part of the Bay City Point Development, a brand new 24+ acre retail development

• The development encompasses a new construction power center, multiple outparcels leased to national investment grade tenants, and is across from Panama City Mall currently undergoing a redevelopment.

• In addition to being shadow anchored by a Class-A Power Center, these shops are positioned in the heart of the major retail corridor of Panama City

• National Tenant Lineup

BAY CITY POINT DEVELOPMENT

• Bay City Point is a new development in the heart of Panama City that finalized construction in 2023

• The power center, recently sold to an institutional investor, includes Hobby Lobby, Burlington, Five Below, Ulta, & Sketchers

• Outparcel tenants include McDonald’s, Chick Fil A, Dunkin’, Chipotle, Aspen Dental, Which Wich, Cracker Barrell, Panda Express, Discount Tire, and more

• Across from Bay City Point is the Panama City Mall, a 600,000+ sf commercial proves that will comprise a mixed use development with retail, office, multifamily, and a hotel

NATIONAL TENANT LINEUP | STABILIZED WITH LONG TERM LEASES

• Bay City Point Shops has a national tenant lineup that includes Xfinity, Vitamin Shoppe, Blaze Pizza, and Chicken Salad Chick, and more

• Each tenant signed its long-term lease in the last 12 months • The property is 100% stabilized

• Weighted Average Lease Term (WALT): 8 Years

HEART OF MAJOR RETAIL CORRIDOR

• Bay City Point is located at the epicenter of the major retail corridor in Panama City Beach

• 3M Square feet of retail in 1-Mile Radius

• Surrounding Tenants Include

• High Traffic Intersection: Located at corner of E 23rd Street (35,000 VPD) & SR-77 (28,000 VPD)

Zach Taylor

678-808-2780 | EMAIL >

Eric Abbott

678-808-2746 | EMAIL >

OFFERING MEMORANDUM

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