Ledbetter Properties Sells Panama City Shopping Center Bay City Point For $18.1M With Seller's Rep Zach Taylor
500 E 23rd St Panama City, FL 32405, USA
$18,100,000
$149/SF
Building Size
121,413 SF
Asset Type
Retail
Closing
Aug 24, 2023
About this deal
AI
Bay City Point, a retail property located at 500 East 23rd Street in Panama City, has been sold for $18.1 million. The property spans 121,413 square feet and is situated in the Panama City market. It features tenants such as Hobby Lobby and Ulta Beauty.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $18,100,000
- Square Footage: 121,413
- Address: 500 East 23rd Street
- Market: Panama City
The sale was facilitated by Institutional Property Advisors (IPA), a division of Marcus & Millichap. Zach Taylor of IPA represented the seller, Ledbetter Properties. The deal was successfully closed at a price of $149 per square foot.
On the Map
$18,100,000
$149/SF
Retail
View full map
Players
Panama City Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Deal FAQ
Visit Zachary (Zach) Taylor to view all their deals.
Browse Florida retail sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93