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    Corner Commercial Development Land Title is generated by Realmo AI

    1014 Mercedes Avenue, Panama City, FL 32401

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    Claim this Listing
    For Sale
    $260,000

    COMMERCIAL - Panama City, FL

    Lot size:
    2.50 Acres
    Added:
    May 8, 2026
    Days on Market:
    30
    Last Refresh:
    Jun 6 at 1:06 am

    Property Features for 1014 Mercedes Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    16536-000-000
    Lot size
    2.50 Acres

    Taxes and HOA fees

    Tax Description
    4 4S 14W -76- 69A BEG 60' E OF NE COR OF BLK 1 GLENWOOD ADD TH S 330' EAST TO BAYOU NLY 330' M/L TO THE SLY R/W OF 11TH ST TH RUN WLY TO POB ORB 4505 P 2299

    We can help!

    Listing Contact
    Patrick D Pate
    Patrick D Pate

    Listing agent Patrick D Pate License #3437592

    Listing office Beach Haven Realty 1611 Dayflower Drive, FL

    Listing date May 8, 2026

    MLS# 789657 Listing URL

    Copyright © 2026 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 2. 5‑acre corner parcel in a prime Panama City location.
    • Located in an opportunity zone, offering potential tax benefits.
    • Zoned Mix Use 3, allowing for medium to high‑density residential and commercial development.
    • Multifamily development potential of up to 20 units per acre.
    • Extensive due diligence completed (environmental, geotechnical, surveys) saving time and expense.
    • Convenient access to shopping, dining, medical facilities, and major thoroughfares.

    Overview

    Situated on a 2.5-acre corner parcel, this commercial development land offers strong flexibility under Mix Use 3 zoning. The property is described as suitable for a mix of medium to high-density residential development alongside professional office, educational facility, and low-intensity neighborhood commercial uses. Multifamily development is referenced with potential for up to 20 units per acre, supporting concepts ranging from apartments and townhomes to mixed-use or live/work communities. Extensive due diligence work is already in place, including an environmental/ecological site assessment, GEO-technical engineering report, boundary and topographical survey, and a wetland survey, which may help streamline planning for future development.

    The site’s highly visible corner location is positioned for convenient access to shopping, dining, medical facilities, and major thoroughfares. The property is also identified as being located in an opportunity zone, which may be relevant for eligible investment planning.

    For investors, developers, and business owners seeking a commercially viable platform for growth, this parcel provides a clear path toward mixed-use and multifamily opportunities while offering documentation that can reduce early-stage uncertainty. Buyers should confirm all measurements and items of importance during their own due diligence.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Walton
    State
    Florida
    Longitude
    -85.645592
    Latitude
    30.1672

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    FAQs

    What type of property is this?
    Residential land & home lot - 2.5-acre corner parcel with Mix Use 3 zoning and Opportunity Zone status, primed for medium-to-high density development.
    Where is this residential land & home lot located?
    The property is located at 1014 Mercedes Avenue Panama City, FL.
    What is the asking price?
    The asking price for this property is $260,000.
    What are key features of this property?
    This property features: 2. 5‑acre corner parcel in a prime Panama City location.; Located in an opportunity zone, offering potential tax benefits.; Zoned Mix Use 3, allowing for medium to high‑density residential and commercial development.
    (850) 381-7273
    We can help!
    Listing Contact
    Patrick D Pate
    Patrick D Pate
    Real Estate License ID: 3437592
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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