Lynn Haven Flex/Warehouse
For Sale
$825,000
1119 Florida Avenue, Lynn Haven, FL 32444
Flex space with open office and high-ceiling warehouse.
Property Size6,419 SF
Price / SF$128.52
Days on Market106
Property Features for 1119 Florida Avenue
General Information
Standard status
Active
Size
6,419 SF
Property subtype
Commercial
Amenities
Pitched Roof
Building Details
Year Built
1975
Listing Agency:
ERA NEUBAUER REAL ESTATE, INC
(850) 872-3434
Listed By:
BRIAN HINTON · License #3066285
Source:
Corcoran
Added: May 14
Changed: Aug 25
Last Checked: Aug 26 at 8:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ERA NEUBAUER REAL ESTATE, INC
Investment Insights
Based on property information with market context.
Located in Lynn Haven, this property is situated one parcel off Hwy 77 (Ohio St). It features a large, open office area with a kitchen and a warehouse with high ceilings. The property is suitable for a distribution company, an office with a large staff, or a church. The property size is 6419 square feet.
Key Highlights
- Super location in the heart of Lynn Haven, just off Hwy 77 (Ohio St)
- Large 'open' office area with kitchen
- Large ft. ceiling warehouse
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$55,534
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,110,680
$1.1M
Cap Rate 7%
$793,343
$793.3K
Cap Rate 9%
$617,044
$617.0K
Market Conditions
NOI Build-Up for 6,419 SF
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.
Gross rent
$90.1K $14.04/SF
− Vacancy
−$4.7K −$0.73/SF
EGI
$85.4K $13.31/SF
− OpEx
−$29.9K −$4.66/SF
NOI
$55.5K $8.65/SF
Area
Bay County, FL
Vacancy
5.20%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,110,680
Cap Rate 7%
$793,343
Cap Rate 9%
$617,044
Alternative Uses
Best Use
Flex RnD
$793.3K
$694.2K – $925.6K
NOI $55,534 @ 7.0% cap · market cap 6.73%
Second Best
Industrial
$604.2K
$528.7K – $704.9K
NOI $42,292 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$1.87M
$1.64M – $2.18M
NOI $130,919 @ 7.0% cap · market cap 15.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
493
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32444, FL
19,913
Population
8,632
Households
2.3
Avg Household Size
41
Median Age
32%
College-Educated
92%
High-School Grad
9.8 sq mi
ZIP Area
2,032
Density / Sq Mi
$89,508
Median Household Income
$42,348
Median Earnings
$1,494
Median Rent
$292,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flex space with open office and high-ceiling warehouse.
Where is this flex space located?
The property is located at 1119 Florida Avenue Lynn Haven, FL.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Super location in the heart of Lynn Haven, just off Hwy 77 (Ohio St); Large 'open' office area with kitchen; Large ft. ceiling warehouse
