Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    8620 N Lagoon Dr Panama City Beach, FL 32408

    View on Map
    Sponsored
    For Sale
    $325,000

    LAND - Panama City Beach, FL

    Lot size:
    0.26 Acres
    Days on Market:
    3
    Last Refresh:
    Mar 26 at 7:06 am

    Property Features for 8620 N Lagoon Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    30188-055-000
    Lot size
    0.26 Acres

    Utilities

    Sewer type
    Public Sewer

    We can help!

    Listing Contact
    Carole Lea Gilman
    Carole Lea Gilman

    Keller Williams Realty Emerald Coast

    Listing agent Carole Lea Gilman License #3086106

    Listing date Mar 24, 2026

    MLS# 787251

    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.

    Learn more

    Property Insight Report

    Overview

    Prime Lot in Panama City

    Located in the desirable North Lagoon Drive area of Panama City Beach, this .26-acre parcel presents an opportunity to build a custom coastal home. The property's location allows for potential water views from a two-story design. Beach access, shopping, dining, golf courses, and the entertainment options at Pier Park are all within minutes of the property. The PCB Navy Base and St. Andrews State Park are also easily accessible. Marinas and boat launches are located within 2 miles, providing convenient bay access for boating. As one of the last remaining lots in this subdivision, the property benefits from no HOA and is situated in Flood Zone X. Multifamily construction is not permitted. The property is intended for residential use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Panama City Beach
    County
    Bay
    State
    Florida
    Longitude
    -85.781
    Latitude
    30.168119

    Nearby Similar for Sale

    • $1,350,000
      6,728 SF

      Panama City Beach Retail Opportunity

      Versatile commercial property with retail and warehouse space in Florida.
      13201 Hutchison Blvd, Panama City Beach, FL 32407
      View Details
    • Contact for pricing
      6,000 SF

      New Medical Office Space Available

      Class A medical space in a premier healthcare environment.
      1002 N Arnold Rd, Panama City Beach, FL 32413
      View Details
    • $650,000
      2,556 SF

      Panama City Beach Multifamily Opportunity

      Versatile property near the beach with redevelopment potential.
      604 Fernwood St, Panama City Beach, FL 32407
      View Details
    • $650,000
      2,556 SF

      Panama City Beach Income Property

      Versatile income property near the heart of Panama City Beach.
      604 Fernwood St, Panama City Beach, FL 32407
      View Details
    • $900,000
      4,432 SF

      Turnkey Income Property in Panama

      Stabilized, fully leased duplex with renovated units and recent upgrades.
      2605 Redwood St, Panama City Beach, FL 32408
      View Details
    • $900,000
      4,432 SF

      Turnkey Income Property in Panama

      Stabilized, fully leased duplex with renovated units and strong income.
      2605 Redwood St, Panama City Beach, FL 32408
      View Details
    • $965,000
      2,606 SF

      Luxury Duplex Near Gulf

      Rental-ready duplex steps from the Gulf of Mexico.
      309 Paridiso Pl, Panama City Beach, FL 32413
      View Details
    • $965,000
      2,606 SF

      Luxury Duplex Near the Gulf

      Fully furnished duplex, steps from the Gulf, ideal for investment.
      309 Paridiso Pl, Panama City Beach, FL 32413
      View Details
    • $649,000
      2,088 SF

      Adorable Duplex with Multiple Possibilities

      Duplex with short-term rental potential near beach and lagoon access.
      3707 Mystic St, Panama City Beach, FL 32408
      View Details
    • $6,590,000
      28,010 SF

      Unique Industrial Warehouse in Panama

      Exceptional warehouse with unmatched clear height in Panama City Beach.
      109 Estes Pl, Panama City Beach, FL 32413
      View Details
    • $520,000
      1,664 SF

      Updated Duplex Near Panama City Beach

      Remodeled duplex near the beach with income potential.
      116 Lakeside Cir, Panama City Beach, FL 32413
      View Details
    • $525,000
      2,196 SF

      Panama City Beach Multi-Family Property

      Two-unit property near beaches with immediate income potential.
      2432 Valley Oak Ct, Panama City Beach, FL 32408
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Spacious lot near beach, shopping, and bay access.
    Where is this residential land & home lot located?
    The property is located at 8620 N Lagoon Dr Panama City Beach, FL.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: - Prime Location: Highly desirable North Lagoon Drive area of Panama City Beach, offering potential water views from a two-story home.; - Convenient Access: Minutes from beach access, shopping, dining, Pier Park entertainment, PCB Navy Base, and St. Andrews State Park.; - Boating Paradise: Within 2 miles of marinas and boat launches for quick bay access.
    (850) 814-6090
    Request Owner's contact information
    8620 N Lagoon Dr Panama City Beach, FL 32408
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    8620 N Lagoon Dr
    Panama City Beach, FL 32408
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    8620 N Lagoon Dr Panama City Beach, FL 32408
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Carole Lea Gilman
    Carole Lea Gilman
    Real Estate License ID: 3086106
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!