Commercial Location with Development
4100 W Hwy 98 Panama City, FL 32405
4100 W Hwy 98, Panama City, FL, 32405
$2,070,000
For Sale
$2,070,000
Mixed-use commercial property with development potential in Panama City, FL.
Property Size15,000 SF
Lot Size1.80 Acres
Price / SF$138
Days on Market1107
Property Features for 4100 W Hwy 98
General Information
- Standard status
- Active
- Size
- 15,000 SF
- Lot size
- 1.80 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1983
Listing agency
ST ANDREWS BAY REALTY
(850) 769-4444
Listed by
JOHN B MCVEIGH
Source
Corcoran
Added: Jul 11, 2023 Updated: Jul 6 at 10:19AM Checked: Jul 21 at 5:58AM
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 ST ANDREWS BAY REALTY
Investment Insights
Based on property information with market context.
This mixed-use commercial property includes a restaurant, mini warehouses, and residential rentals. The site offers development potential for various uses such as a motel, gas station, or fast food establishment. Located at the corner of 4100 W. Hwy 98 and 1805 Grant Avenue, the property features approximately 330 feet of frontage on Highway 98 and approximately 232 feet on Grant Avenue. The property size is 15000 square feet.
Key Highlights
- High DEVELOPMENT POTENTIAL for Motel/Gas Station/Fast Food.
- Multiple use commercial location with restaurant, mini warehouses, and residential rentals.
- Corner lot location at 4100 W. Hwy 98 and 1805 Grant Avenue.
Local Financial Insights For Apartment 5plus
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 | $360.0k | $24.00 |
| − Vacancy | −$58.0k | −$3.86 |
| EGI | $302.0k | $20.14 |
| − OpEx | −$135.9k | −$9.06 |
| NOI | $166.1k | $11.07 |
15,000 SF · lease $24.00/SF/yr · vacancy 16.10% · expense 45.00%
Alternative Uses
Best Use
Specialty Retail
$3.26M
$2.86M – $3.81M
NOI $228,420 @ 7.0% cap · market cap 11.03%
Second Best
Apartment 5plus
$2.37M
$2.08M – $2.77M
NOI $166,122 @ 7.0% cap · market cap 8.03%
Theoretical Best
Office A
$3.77M
$3.30M – $4.40M
NOI $264,060 @ 7.0% cap · market cap 12.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
The Ice Cream Shop ...
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use commercial property with development potential in Panama City, FL.
Where is this mixed-use property located?
The property is located at 4100 W Hwy 98 Panama City, FL.
What is the asking price?
The asking price for this property is $2,070,000.
What are key features of this property?
This property features: High DEVELOPMENT POTENTIAL for Motel/Gas Station/Fast Food.; Multiple use commercial location with restaurant, mini warehouses, and residential rentals.; Corner lot location at 4100 W. Hwy 98 and 1805 Grant Avenue.
