Retail Building on Highway
3407 S Highway 77 Panama City, FL 32405
For Sale
$1,300,000
SINGLE_FAMILY - Panama City, FL
Property Size3,600 SF
Lot Size2.10 Acres
Price / SF$361.11
Days on Market900
Property Features for 3407 S Highway 77
General Information
Property type
Residential
Property subtype
Retail
Standard status
Active
APN
11801-080-000
Size
3,600 SF
Lot size
2.10 Acres
Taxes and HOA fees
Tax Description
21 3S 14W -10.80- 103C ST AND BAY DEV CO PLAT LOT 77 ORB 1387 P 1279
Utilities
Sewer type
Public Sewer
Building Details
Year built
1985
Building materials
MetalSiding
Listing Agency:
Keller Williams Success Realty
(850) 249-0313
Listed By:
Christine Lance · License #3278226
(850) 258-2544
Added: Feb 9, 2024
Changed: Apr 15
Last Checked: Jul 28 at 12:06AM
MLS# 752649
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.
Investment Insights
Based on property information with market context.
This 2.1-acre property is located on a busy section of Highway 77 in Panama City. The site features 330 feet of road frontage with two points of ingress and egress. The average daily traffic count is 30,098 vehicles. The property includes a 60' x 60' metal retail building with a finished interior space and covered warehouse storage. Parking is available at the front of the building, and an easement will be provided for driveway access to the adjacent building. The back portion of the property is vacant land. The retail business currently operating on the premises is not part of the sale; only the building and property are being offered. The business is currently operating under a month-to-month lease. While the property has a Panama City address, it was annexed by the city of Lynn Haven, and utilities and taxes are managed through the City of Lynn Haven.
Key Highlights
- High‑traffic location: 330' frontage on Hwy 77 with 30,098 average daily traffic count.
- 2.1 acre property with a 60' x 60' metal retail building including finished interior space and covered warehouse storage.
- Two points of ingress and egress.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.8k | $18.00 |
| − Vacancy | −$5.5k | −$1.53 |
| EGI | $59.3k | $16.47 |
| − OpEx | −$17.8k | −$4.94 |
| NOI | $41.5k | $11.53 |
3,600 SF · lease $18.00/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$592.9K
$518.8K – $691.7K
NOI $41,504 @ 7.0% cap · market cap 3.19%
Second Best
Warehouse
$442.2K
$387.0K – $515.9K
NOI $30,956 @ 7.0% cap · market cap 2.38%
Theoretical Best
Office A
$905.3K
$792.2K – $1.06M
NOI $63,374 @ 7.0% cap · market cap 4.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - 2.1 acre property with retail building and warehouse storage.
Where is this retail space located?
The property is located at 3407 S Highway 77 Panama City, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: High‑traffic location: 330' frontage on Hwy 77 with 30,098 average daily traffic count.; **2.1 acre property with a 60' x 60' metal retail building including finished interior space and covered warehouse storage.**; Two points of ingress and egress.
