Building Details

Year built 1975

Floors in Building 1

Building materials Stucco, WoodFrame

Listing Agency: ERA Neubauer Real Estate, Inc · ERA Real Estate t**@panamacityera.com Show Phone

Listed By: Brian Hinton · License #3066285 Show Phone

Added: May 13 Changed: Nov 2 Last Checked: Nov 3 at 6:06AM

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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.

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Investment Insights

Based on property information with market context.

This 6,419-square-foot flex property combines a large, open office area with a warehouse and kitchen. Built in 1975, the building occupies a 0.34-acre parcel and features stucco and wood-frame construction.

The property is at 1119 Florida Avenue in Lynn Haven, one parcel from Hwy 77, also identified as Ohio Street.

Key Highlights

• 6,419‑square‑foot flex property
• 0.34‑acre parcel
• Open office area with kitchen and warehouse

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$55,534

Cap Rate

7.40%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,110,680 $1.1M

Cap Rate 7%

$793,343 $793.3K

Cap Rate 9%

$617,044 $617.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,419 SF

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 Rate 5%

$1,110,680

Cap Rate 7%

$793,343

Cap Rate 9%

$617,044

Alternative Uses

Best Use

Office B

$1.54M

$1.35M – $1.80M (±1% cap)

NOI $107,931 @ 7.0% cap · market cap 14.39%

Second Best

Flex RnD

$793.3K

$694.2K – $925.6K (±1% cap)

NOI $55,534 @ 7.0% cap · market cap 7.40%

Theoretical Best

Office A

$1.87M

$1.64M – $2.18M (±1% cap)

NOI $130,919 @ 7.0% cap · market cap 17.46%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Leitz Office Products Furniture & Home Goods

Suggested Use

Top Pick Law Firm Real Estate Agency Dental Office Bakery Spa & Massage Center Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

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 Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Similar For Sale Nearby

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2,908 SF

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Frequently Asked Questions

What type of property is this?

Flex space - An attached warehouse and kitchen complement the property's open office layout.

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 $750,000.

What are key features of this property?

This property features: 6,419‑square‑foot flex property; 0.34‑acre parcel; Open office area with kitchen and warehouse