5705 Cherry St
Callaway, FL 32404
Retail Property For Sale

Property tours are available by appointment ONLY. Please contact James Mitchell to schedule at james.mitchell@cbre.com or 407-404-5024. Investment Highlights: Absolute Auction - 1st Bid meets Reserve! ñ1,702 SF Former SunTrust Bank Branch in Callaway (suburb of Panama City) Owner-operator opportunity or value-add through lease-up at market rates or redevelopment Fa‡ade and pylon signage available Great location with easy access and visibility ñ0.6 miles from Wewa Hwy in a heavily trafficked retail node Dense demographics with 2017 Population of ñ57,003 and Avg HH Income of ñ$55,569 within a 5-mile radius Investment Overview: The former SunTrust branch in Callaway is a vacant former banking facility located at 5705 Cherry St in Callaway, FL which is a suburb of Panama City in Bay County. The Property contains a total of ñ1.36 AC with 179' on Cherry St (with 2 curb cuts). The Former Suntrust has multiple points of ingress/egress and offers customers 3 drive-thru lanes and 23 parking spaces. This former SunTrust is ideal for owner occupants with an immediate need for retail/office space or for investors seeking significant value-add through lease-up at market rates. Callaway is a city in Bay County, FL and is a suburb of Panama City. The county is best known for its white sand beaches and emerald green water, where large pods of dolphins swim year-round. These beaches attract hundreds of thousands of visitors from all over the world each year. The Property has approximately ñ57,003 individuals residing within a five-mile radius of the property and an average household income of ñ$ 55,569. The annual consumer spending demographics estimate a total specified consumer spending of ñ$476,566,000 within a 5-mile radius of the Property in 2017. Compared to the rest of the country, Callaway's cost of living is ñ9.30% Lower than the U.S. average. The Property is located only ñ0.6 miles off Wewa Hwy in a heavily trafficked retail node with ñ13,000 VPD on Cherry St/ N Tyndall Pky (0.06 W) and ñ30,500 VPD on S Tyndall Pky/N Lakewood Dr (0.12 S). Nearby retailers in the immediate area within 1 mile include BurgerKing, McDonalds, Arby's, Goodwill, Subway, Advance AutoParts, Pep Boys, Hungry Howie's Pizza, Church's Chicken, Walmart, Sonic, Walgreens, and CVS. This absolute auction opportunity gives potential investors the ability to acquire this vacant P