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

    Division Street Panacea, FL 32346

    View on Map
    Picture of Commercial land at Division Street, Panacea, FL
    For Sale
    $349,000

    LAND - Panacea, FL

    Lot size:
    0.87 Acres
    Added:
    Nov 24, 2025
    Days on Market:
    130
    Last Refresh:
    Apr 3 at 10:06 am

    Property Features for Division Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    12129-25-5S-02W-046-03543-000
    Lot size
    0.87 Acres

    Taxes and HOA fees

    Tax Annual Amount
    241

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Susan Jones

    Listing agent Susan Jones License #3203817

    Listing office Bluewater Realty Group 2543 Crawfordville Hwy Ste. 1, Crawfordville, FL

    Listing date Nov 24, 2025

    MLS# 393559

    Copyright © 2026 Tallahassee Board 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.

    Overview

    Prime Land in Coastal Panacea

    Located in Panacea, Florida, this property is situated on the corner of Highway 98 and Division Street. The site includes multiple lots and features over 150 feet of frontage on Highway 98. The property is suitable for commercial, mixed-use, or future development. Its location along one of the area's main corridors provides visibility and accessibility. This property offers potential in a growing coastal community. The lot size is approximately 0.87 acres.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Panacea
    County
    Wakulla
    State
    Florida
    Longitude
    -84.389937
    Latitude
    30.02504

    Nearby Similar for Sale

    • $284,900
      1,788 SF

      Panacea Commercial Property with Bay View

      Commercial property in Panacea, FL, with highway frontage and upgrades.
      1629 Coastal Hwy, Panacea, FL 32346
      View Details
    • $30,000

      Highway 98 Commercial Land

      Commercial lot with highway frontage and flexible zoning in Panacea.
      Coastal Highway lot: 4 & 5, Panacea, FL 32346
      View Details
    • $79,900

      Waterfront Lot in Mashes Sands

      Canal front lot with views, dock, and power in place.
      16 SUNRISE Lane, Panacea, FL 32346
      View Details
    • $249,900

      Ochlockonee Bay Waterfront Lot

      Deep water bayfront lot with unspoiled views and great fishing.
      Surf Road, Panacea, FL 32346
      View Details
    • $185,000

      Waterfront Land in Panacea, Florida

      0.65-acre waterfront lot with direct water access and utilities.
      Chattahoochee Street lot: 1 & 2, Panacea, FL 32346
      View Details
    • $27,500

      Waterfront Land in Gated Community

      Premier lots in a gated community near Ochlockonee Bay.
      Surf Rd lot: 78, Panacea, FL 32346
      View Details
    • $229,000

      Waterfront Land in Panacea, FL

      Cleared waterfront land with dock being constructed near Bald Point.
      Surf Road, Panacea, FL 32346
      View Details
    • $499,000

      Panacea Land Near Dickerson Bay

      1.46 acre wooded lots near amenities and waterfront activities.
      Piney Street, Panacea, FL 32346
      View Details
    • $95,000

      Land with Bay Views

      Residential land in Panacea, Florida, with bay views.
      Chattahoochee Street lot: 3, Panacea, FL 32346
      View Details
    • $95,000

      Panacea, FL Land Opportunity

      Residential land for dream home or coastal adventures in Panacea.
      Chattahoochee Street lot: 4, Panacea, FL 32346
      View Details
    • $84,000

      Bay-View Lot with Boat Slip

      Waterfront lot with deepwater boat slip and lift included.
      40 Endeavour Drive, Panacea, FL 32346
      View Details
    • $69,900

      Coastal Lot in Tradewinds, Panacea

      Build-ready lot with water views and community amenities.
      Mainsail Court, Panacea, FL 32346
      View Details

    FAQs

    What type of property is this?
    Commercial land - Versatile land with highway frontage, ideal for development.
    Where is this commercial land located?
    The property is located at Division Street Panacea, FL.
    What is the asking price?
    The asking price for this property is $349,000.
    What are key features of this property?
    This property features: Prime Hwy 98 frontage (150+/- feet) in Panacea.; Multiple lots included in the property.; Excellent visibility and easy access on Hwy 98.
    (850) 566-7584
    We can help!
    Listing Contact
    Susan Jones
    Real Estate License ID: 3203817
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!