- The tenant, Junior Food Stores of West Florida, Inc., recently signed a brand new 20-year lease with 6 (5-Year) options to extend, demonstrating their commitment to the site
- The lease features 5-8% increases every 5 years and at the beginning of each option period, generating additional NOI and hedging against inflation
- The lease is corporate guaranteed by EG Retail (America) LLC
Investment Offering
Panama City, FL - Cumberland Farms
2901 W. 23rd Street | Panama City, FL 32405
$6,842,000
Price4.75%
Cap Rate$325,000
NOI5,000
± SF Offering GLADescription
Location
- Cumberland Farms is strategically located at the signalized, hard corner intersection of Beck Avenue and W 23rd Street, which features a combined average of 50,100 vehicles passing by daily
- W 23rd Street is a major retail corridor, and is home to other national/credit tenants including Winn Dixie, Sam’s Club, Publix, Walmart, and more
- Strong surrounding tenant synergy increases consumer draw to the overall trade area, and promotes crossover shopping to the site
- Cumberland Farms is located in a residential housing dominated area, creating a direct consumer base from which to draw
Documents & Links
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 Offering Memorandum |  |  |