Panera Bread Ground Lease
Closed908 E. 23rd Street, Panama City, FL 32405
Property type
Retail
Unit / Space count
1
Price
$2,880,000
Building size
3,975 sf
Rentable area
3,975 SF
Year built
2010
Year renovated
Occupancy
Zoning code
Sold/status
Sold · Date unknown
Sale price
$2880000
CAP
5.00%
Property description
Franklin Street presents this Panera Bread ground lease in Panama City, Florida. Panama City is a major tourist beach destination with over 11 million visitors annually. Adjacent to the subject property is a 50,854-SF retail center anchored by Best Buy. Panera Bread is an outparcel of the Panama City Mall, a 600,000+ SF enclosed regional mall with anchors including: Planet Fitness, Dillard’s, and JCPenney. The mall was significantly damaged in Hurricane Michael and now has plans to be redeveloped into an experiential shopping destination in Panama City, east of the Hathaway Bridge. Business Facilities magazine ranks Panama City as the #1 Metro Area for Economic Growth Potential for communities with a population of less than 200,000. Panama City is also home to Port Panama City, Tyndall Air Force Base, the U.S. Navy’s Naval Support Activity Base and Gulf Coast State College, which combined employ well over 10,000 people.
Property highlights
- Panera Bread Ground Lease with 11 Years Remaining
- Largest Fast-Casual Chain in the Country
- Outparcel to the Panama City Mall
- Excellent visibility on 23rd St: 28,500 VPD
- Over 107,000 Residents within 10 Minutes of the Property
- 11 Million Tourists Visit the Area Annually
- Panera Bread Boasts "2,000 bakery-cafés" Employing 100,000+ Associates