Lynn Haven Flex/Warehouse
For Sale
$825,000
1119 Florida Avenue, Lynn Haven, FL 32444
SINGLE_FAMILY - Lynn Haven, FL
Property Size6,419 SF
Lot Size0.34 Acres
Price / SF$128.52
Days on Market93
Property Features for 1119 Florida Avenue
General Information
Property type
Residential
Property subtype
Office
Zoning description
General Commercial
Subdivision
Lynn Haven
Elementary school
Lynn Haven
Middle school
Mowat
High school
Mosley
Directions
From Ohio St (Hwy 77) property is two parcels west on Florida Ave, across from Circle K side entrance.
Standard status
Active
APN
09879-000-000
Size
6,419 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Description
LYNN HAVEN LOTS 11 & 12 BLK 186 ORB 3089 P 477
Legal Description
LYNN HAVEN LOTS 11 & 12 BLK 186 ORB 3089 P 477
Building Details
Year built
1975
Floors in Building
1
Building materials
Stucco, WoodFrame
Listing Agency:
ERA Neubauer Real Estate, Inc · ERA Real Estate
(850) 872-3434
Listed By:
Brian Hinton · License #3066285
(850) 527-6393
Added: May 13
Changed: May 20
Last Checked: Aug 13 at 10:06AM
MLS# 789838
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.
Investment Insights
Based on property information with market context.
Located in the heart of 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 a high ceiling. The property is suitable for a distribution company, an office with a large staff, or a church. The building has a total area of 6419 square feet and is situated on a 0.34-acre lot.
Key Highlights
- Super location in the heart of Lynn Haven, only one parcel off Hwy 77 (Ohio St).
- Large 'open' office area.
- Kitchen included.
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
Warehouse
$694.6K
$607.8K – $810.4K
NOI $48,621 @ 7.0% cap · market cap 5.89%
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
475
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 - Versatile flex/warehouse space in central Lynn Haven location.
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, only one parcel off Hwy 77 (Ohio St).; Large 'open' office area.; Kitchen included.
