Highway 77 Retail
3407 S Highway 77 Panama City, FL 32405
3407 S Highway 77, Panama City, FL, 32405
$1,300,000
For Sale
$1,300,000
2.1-acre property with retail building and highway frontage.
Property Size3,600 SF
Lot Size2.10 Acres
Price / SF$361.11
Days on Market1447
Property Features for 3407 S Highway 77
General Information
- Standard status
- Active
- Size
- 3,600 SF
- Lot size
- 2.10 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1985
Listing Agency
KELLER WILLIAMS SUCCESS REALTY
(850) 249-0313
Listed by
CHRISTINE LANCE · License #3278226
Source
Corcoran
Added: Aug 4, 2022 Checked: Jul 19 at 4:07 am
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 KELLER WILLIAMS SUCCESS REALTY
Investment Insights
Based on property information with market context.
This 2.1-acre property is located on Highway 77 in Panama City. It features 330 feet of road frontage and two points of ingress and egress. The average daily traffic count is 30,098 vehicles. The property includes a 60' x 60' metal retail building with a finished interior and covered warehouse storage. Parking is available at the front of the building, and an easement will be provided for driveway access to the adjacent building. The back portion of the property is vacant land. The property has a Panama City address but is annexed by the city of Lynn Haven, with utilities and taxes managed through Lynn Haven. The retail business currently operating on the premises is under a month-to-month lease, but is not part of the sale. The property is located near a median cut for convenient access from either direction.
Key Highlights
- High‑traffic location: 330' frontage on Hwy 77 with 30,098 average daily vehicles.
- Large 2.1 acre property with vacant land in the back.
- Includes a 60' x 60' metal retail building with finished interior space and covered warehouse storage.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.8k | $18.00 |
| − Vacancy | −$5.5k | −$1.53 |
| EGI | $59.3k | $16.47 |
| − OpEx | −$17.8k | −$4.94 |
| NOI | $41.5k | $11.53 |
3,600 SF · lease $18.00/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$592.9K
$518.8K – $691.7K
NOI $41,504 @ 7.0% cap · market cap 3.19%
Second Best
Warehouse
$442.2K
$387.0K – $515.9K
NOI $30,956 @ 7.0% cap · market cap 2.38%
Theoretical Best
Office A
$905.3K
$792.2K – $1.06M
NOI $63,374 @ 7.0% cap · market cap 4.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - 2.1-acre property with retail building and highway frontage.
Where is this retail space located?
The property is located at 3407 S Highway 77 Panama City, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: High‑traffic location: 330' frontage on Hwy 77 with 30,098 average daily vehicles.; Large 2.1 acre property with vacant land in the back.; Includes a 60' x 60' metal retail building with finished interior space and covered warehouse storage.
