Property Description

Land Area:

39,968 sf

Parking Spaces:

41

Year Built:

1996

Frontage:

157’ on Tyndall Parkway

Full Space

Demographics

Rentable Area:

6,490 sf

5 miles (2007)

Annual Base Rent:

$17.00/psf

Population:

56,139

Tenant Responsibilities:

NNN

Households:

23,986

Median H.H. Income:

$37,563

Space 1

Space 2

Rentable Area:

5,390 sf

Rentable Area:

1,300 sf

Lease:

Vacant

Lease:

Vacant

Annual Base Rent:

$17.50/psf

Annual Base Rent:

$17.75/psf

Tenant Responsibilities:

NNN

Tenant Responsibilities:

NNN

Traffic Generators

The subject property is situated in close proximity to several commercial development along 15th Street and Tyndall Parkway including several neighborhood shopping centers, restaurants, banks and single and multi-tenant occupancy office buildings.  Callaway Village Square (comprised of local tenants in moderately priced rental suites), the Parker Shopping Center (which is comprised of Scotty's Hardware Store), two retail tenants, and a new Winn-Dixie Marketplace grocery store, are all within a couple blocks of the subject property.

Building & Site Analysis

The subject property is a 6,496 square foot freestanding retail facility.  The building’s exterior consists of wood frame stucco and concrete block.  Other components of the basic building structure include batt insulation and rear fire doors.

The site consists of an irregular-shaped 39,968 square foot parcel. Site improvements include an asphalt-paved parking lot with concrete curbs and sidewalks.  The property site has approximately 157.50 feet on frontage on Tyndall Parkway.  Recent daily traffic count estimates over 14,750 vehicles per day on north US Highway 30A. The topography is relatively level and slightly above street grade.  All public utilities are available and are in place on the site.  No adverse easements or encroachments were otherwise observed on the subject property.  The property is located in an area with a flood designation of Zone C, which is identified as minimal hazard from the principal source of flood in the area. 

Neighborhood Analysis

The subject neighborhood encompasses the east-central area of the city of Panama City.  The neighborhood is heavily influenced by U.S. Highway 98, which is the main commercial thoroughfare in the market area and one of the major commercial thoroughfares in the city.  The section of Highway 98 in the immediate subject neighborhood is also known as North Tyndall Parkway.   The subject property is located along the central commercial corridor of Tyndall Parkway.  The Tyndall Parkway corridor, particularly within a two-mile radius of the subject property, is one of the primary commercial corridors of Panama City and Bay County.  This is partly due to the fact that Highway 98 is the only access route to the beaches for visitors coming into the area on State Highway 77 and U.S. Highway 231.   The subject property is in close proximity to several commercial developments along 15^th Street and Tyndall Parkway including several neighborhood shopping centers, restaurants, banks and single and multi-tenant occupancy office buildings.  Callaway Village Square (comprised of local tenants in moderately priced rental suites), the Parker Shopping Center (which is comprised of Scotty’s Hardware Store), two retail tenants, and a new Winn-Dixie Marketplace grocery store are all within a couple blocks of the subject property.