23rd St Retail Investment Opportunity: Net Leased by Community Bank

1602 West 23rd Street is situated on Panama City's main retail and commercial artery, the property enjoys prominent visibility and high traffic counts (29,500 VPD FL DOT). The prime location across from major retail landmarks like Sam's Club and Regal Movie Theaters adds an extra layer of appeal.Kevin Wattenbarger, CCIM and Five Bridges Real Estate is pleased to offer a rare Stable, Credit Tenant retail investment opportunity located on W 23rd Street. This property is leased by Community Bank, a long standing tenant with a solid reputation and strong credit profile. Having been on the property since 2018, Community Bank recently extended its lease, indicating stable, long-term income potential. With three years remaining on the current lease term, this investment provides attractive financial predictability. Attractive Design Features The building features an attractive façade with large storefront windows facing 23rd Street, designed to catch eyes and attract customers. High ceilings create an expansive interior, providing for a two-story layout. These architectural elements not only add character but also offer the tenant versatility in utilizing the space. 10 surface parking spaces dedicated to the property are available. Moreover, the Tenant maintains an additional off-site parking agreement with neighboring Willow Lake Commercial Center that allows for expanded parking options, making it convenient for Community Bank employees and customers alike. Investment Benefits Long-term lease with stable, credit tenant Located on 23rd St Panama City's major retail and commercial stretch High-visibility with landmark retail neighbors Upside with annual rent increase and net lease structure for pass thru of Operating Expenses For additional information on this net leased investment opportunity, contact Kevin Wattenbarger, CCIM at (850) 532-5454 (voice or text) or [email protected].