Building Details

Year Built 1975

Listing Agency: ERA NEUBAUER REAL ESTATE, INC Show Phone

Listed By: BRIAN HINTON · License #3066285 Show Phone

Source: Corcoran

Added: May 14 Changed: Nov 1 Last Checked: Nov 1 at 5:19AM

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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

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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 / 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

Flex RnD

$793.3K

$694.2K – $925.6K (±1% cap)

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

Second Best

Industrial

$604.2K

$528.7K – $704.9K (±1% cap)

NOI $42,292 @ 7.0% cap · market cap 5.64%

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

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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.

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

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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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 $750,000.

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