RibCrib

532 N Tyndall Parkway | Panama City, Florida 32404

Contact Brokers

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James Garner
First Vice President Investments​James.Garner@MarcusMillichap.com
(O) 813.387.4796
FL #SL3273659

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Jim Shiebler

First Vice President Investments

Jim.Shiebler@MarcusMillichap.com

(O) 239.340.7811
FL #SL3347780

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James Medefind
Senior Vice President Investments
James.Medefind@MarcusMillichap.com
(O) 813-387-4788
FL #SL3216834

Highlights

  • Brand New 20-Year Lease

  • 2% Annual Increases - Providing an Average Cap Rate Over Base Term of 6.38%

  • NNN Ground Lease With Zero Landlord Responsibility

  • Average Daily Traffic Count of 45,000

  • Recession & E-Commerce Proof

  • Over 3.85 Acres With Additional Value Add Under a Landlord Option to Re-Plat & Redevelop

Description

Marcus & Millichap is pleased to present RibCrib, a rare investment opportunity for an investor to purchase a truly iconic brand with a proven track record of success in a quickly growing submarket of Panama City, FL. This unique investment opportunity is ideally positioned in the path of progress and development with Panama City Beach being the target of redevelopment with a plan by city officials to spend $33 Million of the city's $144 million budget for 2021 allocated to fund an ongoing project to renovate portions of Front Beach Road and its surrounding streets. Additionally, this dense infill, high barrier to entry location is on N. Tyndall Parkway, which sees over 45,000 Cars Per Day. RibCrib has over 60 locations and they have begun their expansion into Florida with this store being their flagship store across the State. This prime location has a variety of phenomenal core real estate drivers that ensure future appreciation and stability of the location.