15701 Panama City Beach Pky
Panama City Beach, FL 32413
Retail Property For Sale

The Olive Garden property is strategically located immediately across from the Panama City Beach front where there are over 17 million visitors annually who spend $1.7 billion. The property is positioned along Panama City Beach Parkway (36,000 VPD) where it has excellent visibility and can be easily accessed. Retailers in the immediate area include Walmart Supercenter, Target, Dillard’s, Dick’s Sporting Goods, JCPenney, Ross Dress for Less and Nike. The Olive Garden is an outparcel to Pier Park, a Simon owned mall with 124 stores. Pier Park features dining, shopping, and entertainment at the heart of the beach district. Pier Park captures 92% of the visitors that vacation on Panama City Beach and is across from an amphitheater with a capacity for 7,500 people and a major amateur and youth sports complex. A brand new 180-foot-tall SkyWheel just opened at the pier which offers incredible views of the Gulf of Mexico. There will be five years remaining on the corporately guaranteed Olive Garden lease upon close of escrow. The lease will feature 1.5% annual rental escalations and require no landlord responsibilities. Additionally, there will be five 5-year renewal option periods. The 7,441 SF Olive Garden property features a low rent per square of $15.11. *As of December 2018