Sign Up Successful!
You now have access to more from Realmo!
    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

    000 Highway 388 W Panama City Beach, FL 32413

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,600,000

    4.22 acre commercial site near Latitude Margaritaville and airport.

    Lot size:
    4.22 Acres

    Property Features for 000 Highway 388 W

    General Information

    Standard status
    Active
    Lot size
    4.22 Acres

    We can help!

    Listing Contact
    Timothy M Carroll
    Source: Exprealty

    Listing Agency: Counts Real Estate Group Listing Agent: Timothy M Carroll

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Prime Commercial Development Site Available

    This 4.22 acre commercial development site is located on W. Highway 388 in the West Bay/Panama City Beach area. The property is situated 1.5 miles south of the primary entrance to Latitude Margaritaville and 4 miles west of Northwest Florida Beaches International Airport. It offers convenient access, located 700 feet east of the Highway 79 corridor and the West Bay Bridge. The zoning is General Commercial (C-3) in Unincorporated Bay County, which allows for multiple commercial uses. Bay County public water and sewer are available along W. Highway 388. A 2,136 square foot home built in 1975 is currently on the property. The site is ready for immediate commercial development.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Nursing Home Assisted Living Facility

    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
    -85.6644381
    Latitude
    30.3248054

    Nearby Similar for Sale

    • $750,000
      Pending

      Furnished Triplex Near Panama City Beach

      Rental-ready triplex near beaches, restaurants, and attractions.
      3903 Raven St Unit, Panama City Beach, FL 32408
      View Details
    • $1,595,000
      4,735 SF

      New Duplex Near Beach

      New construction duplex near the beach with high rental potential.
      232 San Vincente St, Panama City Beach, FL 32413
      View Details
    • $849,900
      2,465 SF

      Coastal Duplex Near Panama City Beach

      Fully furnished duplex near the beach, ideal for investors.
      129 Malaga Pl, Panama City Beach, FL 32413
      View Details
    • $2,400,000

      Duplex Near Panama City Beach

      Newer construction, fully furnished duplex near the beach.
      6006 Thomas Dr, Panama City Beach, FL 32408
      View Details
    • $464,999

      Renovated Duplex Near Beach

      Tastefully renovated duplex, steps from the beach, sleeps eight.
      219 Palmetto 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
    • New
      $569,000
      Pending

      Turnkey Duplex Near Navy Base

      Well-maintained duplex in high-demand area, ideal for investors.
      3701 Lee St, Panama City Beach, FL 32408
      View Details
    • $675,000
      0.13 Acres

      Beachside Duplex: Income Potential

      Duplex near Panama City Beach, ideal for rentals.
      6328 Beach Dr, Panama City Beach, FL 32408
      View Details
    • New
      $1,399,000
      0.71 Acres

      Panama City Beach Investment Opportunity

      Four cottages and nine buildable lots near Panama City Beach.
      2907 Sarah Jean Ct, Panama City Beach, FL 32408
      View Details
    • $1,050,000
      0.57 Acres

      Remodeled Quadplex in Panama City Beach

      Charming, remodeled quadplex near beaches, restaurants, and attractions.
      2809 Lagoon Knl, Panama City Beach, FL 32408
      View Details
    • $797,500
      2,368 SF

      New Duplex Near Beach, No HOA

      New construction duplex near the beach with high rental potential.
      232 San Vincente St, Panama City Beach, FL 32413
      View Details
    • $1,495,000
      4,746 SF

      Duplex Near Private Beach Access

      Duplex in Bid-A-Wee Beach neighborhood with rental potential.
      506 Anemone St, Panama City Beach, FL 32413
      View Details

    FAQs

    What type of property is this?
    Commercial land - 4.22 acre commercial site near Latitude Margaritaville and airport.
    Where is this commercial land located?
    The property is located at 000 Highway 388 W Panama City Beach, FL.
    What is the asking price?
    The asking price for this property is $2,600,000.
    What are key features of this property?
    This property features: - Prime 4.22± acre commercial development site in West Bay/Panama City Beach.; - Strategically located 1.5± miles from Latitude Margaritaville entrance.; - Convenient access to Highway 79 corridor and West Bay Bridge.
    (850) 532-5878
    Request Owner's contact information
    000 Highway 388 W Panama City Beach, FL 32413
    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.
    000 Highway 388 W
    Panama City Beach, FL 32413
    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
    000 Highway 388 W Panama City Beach, FL 32413
    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
    Timothy M Carroll
    (850) 532-5878
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.