Listed by Premier Commercial Group
$1,925,000
Avis Car Rentals
Details
Property Type Retail
Sub Type Car Rental
Cap Rate 5.20%
NOI $100,100
Tenancy Single
Brand/Tenant Avis
Lease Type NNN
Lease Term 10
Acreage 1.000
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 05/01/2026
Ground Lease No
Retail | 5.20% CAP
Marketing description
1602 MLK Jr Boulevard is a premier net-lease investment opportunity on approximately ±1.0 acre in Panama City, Florida. The property is secured by a brand-new 10-year corporate triple-net lease with Avis Car Rental, delivering stable long-term income with minimal landlord responsibilities. The lease structure includes reported sales and a percentage-rent "kicker," providing additional upside tied to tenant performance. The store is scheduled to open in May 2026 in a high-visibility commercial corridor near Panama City Mall and surrounded by national retailers, hotels and major traffic drivers.
Investment highlights
- A new 10-year triple-net lease with Avis Car Rental delivers long-term, predictable income with minimal landlord responsibilities — corporate guarantee, day-one stabilized asset.
- The lease structure includes reported sales and a percentage-rent kicker — additional income upside tied directly to tenant performance and store growth.
- The store is scheduled to open in May 2026 — the investor takes delivery of a brand-new, fully-leased asset with zero deferred maintenance and no down-time risk.
- Avis is one of the world's most recognized rental-car brands — corporate credit, proven retail format, and a tenant with no incentive to leave a newly built location.
- MLK Jr Boulevard is one of Panama City's primary commercial corridors, near Panama City Mall and surrounded by national retailers, hotels and major traffic generators.
- A 5.2% cap rate on approximately $100,100 of in-place NOI — premium asset pricing reflecting tenant credit, lease length and new construction quality.
Listing Contacts
Listed by Premier Commercial Group
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$100,100.00
$8,341.67/mo
Valuation Metrics
0
DSCR
5.2%
Cap Rate
5.2%
ROI
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Brokerage
Title
Is there information that looks off?
