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    3715 Airport Dr Panama City, FL 32405

    Sponsored
    Source: https://www.saltercompany.com
    For Sale
    $950,000

    Prime 2.12-acre lot, ideal for commercial development. High-growth area.

    Property size:
    92,347 SF

    Description

    Added:
    Feb 21, 2025
    Days on Market:
    328
    This exceptional 2.12-acre commercial lot presents a compelling investment opportunity in Panama City, Florida. Located at 3715 Airport Dr, 32405, this flat parcel enjoys convenient access to the recently upgraded Highway 390. Free from wetlands and easements, the site offers straightforward development potential. The property has undergone meticulous rezoning from residential to commercial use, eliminating any zoning hurdles. Specifically approved for a 100,000-square-foot, three-story climate-controlled storage facility, the lot's versatility extends to other commercial uses, such as office spaces. Its strategic location adjacent to the 700-acre Sweetbay master-planned community provides significant advantages. Proximity to a soon-to-open Publix supermarket, a marina, and a gas station across the street further enhances its appeal. The ongoing development within Sweetbay, including the emerging town center, ensures a strong potential for substantial returns. This property represents a strategic investment in a rapidly growing area with high demand, promising significant income opportunities. The asking price is $950,000.

    Property Features for 3715 Airport Dr

    General Information

    Property type
    Other land
    Square Feet
    92,347 SF
    Price / Square Foot
    $10
    Elevators
    N/A
    Lot Size
    92,347 SF

    HighLights

    • 2.12‑acre commercial lot in Panama City, FL, near Highway 390 and Sweetbay.
    • Approved for a 100,000 sq ft climate‑controlled storage facility, plus other commercial uses.
    • Flat, wetland‑free parcel with easy access, adjacent to a growing master‑planned community.
    Property Profile Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    City
    Panama City
    State
    Florida

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    FAQs

    What type of property is this?
    Land - Prime 2.12-acre lot, ideal for commercial development. High-growth area.
    Where is this land located?
    The property is located at 3715 Airport Dr Panama City, FL.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: 2.12-acre commercial lot in Panama City, FL, near Highway 390 and Sweetbay.; Approved for a 100,000 sq ft climate-controlled storage facility, plus other commercial uses.; Flat, wetland-free parcel with easy access, adjacent to a growing master-planned community.
    (850) 231-6052
    Request Owner's contact information
    3715 Airport Dr Panama City, FL 32405
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    Panama City, FL 32405
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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.

    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
    3715 Airport Dr Panama City, FL 32405
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