Florida Springs Wellness & Recovery Center | Panama City, FL
Sands Investment Group is Pleased to Present Exclusively For Sale the 21,200 SF NNN Medical Located at 1212 W 19th Street in Panama City, FL. This Deal Includes a Long Term, Triple Net (NNN) Lease That Will Begin at the Close of Escrow, Providing For a Secure Investment.
- Tenant Will Be Expanding to its Next Facility Soon; They Will Have 1 5k SF New Detox Center, 1 5k SF New PHP/IOP Center and 1 5k SF New MOB
- Just Renewed Grants
- 230 BPS Point Spread From Interest Rate to Cap Rate On a Fixed 7 Year SWAP
- Long Term, Triple Net (NNN) Lease to Panama City’s Premier Wellness & Recovery Center
- Only Approved Facility in Bay County That Provides Detox and Residential Services
- Lead Dr. Raymond Pomm, Triple Board Certified in Psychiatry, Addiction and Addiction Psychiatry, Who Serves as the Medical Director and Was Named the 2018 Professional of the Year From the Florida Drug and Alcohol Abuse Association
- The Center Includes 14 Detox Beds and 30 Residential Beds
- Renovated in 2019 With $400k Worth of Improvements, Including Replacing the Metal Roof and HVAC
- The Property Consists of a Pharmacy, Workout and an Activity Center
- Credentialed By the Joint Commission, the Florida Department of Health and Psychology Today
- Over 5,000 Tourists Visit Panama City Beach Every Day
- 2.59 Rent Coverage Ratio
- Nearby Tenants Include: Walmart Supercenter, Sam’s Club, T. J. Maxx, AutoZone, Big Lots, Dollar General, Wells Fargo, Best Buy, Target, Lowe’s and More
In Cooperation With SIG RE Services, LLC – Lic. #CQ1055229 BoR: Andrew Ackerman – Lic. FL #BK3369953
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