4402 HIGHWAY 2321, Panama City, FL 32404
3.5-acre commercial waterfront land for development on North Bay.
- Added:
- Jan 7, 2019
- Days on Market:
- 2710
- Last Refresh:
- May 11 at 12:51 am
Property Features for 4402 HIGHWAY 2321
General Information
- Standard status
- Active
- Size
- 2,219 SF
- Lot size
- 3.50 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1965
Listing agent CHARLIE B HAAS License #3021473
Listing office COUNTS REAL ESTATE GROUP (850) 248-3615
Listing date Jan 7, 2019
Source Corcoran
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 COUNTS REAL ESTATE GROUP
HighLights
- Prime 3.5 acre commercial waterfront development opportunity
- Located on North Bay at the foot of Deer Point Dam
- Part of a larger 76.6 acre parcel (Bay County Parcel Number 08671‑000‑000)
- Currently houses a Bait Shop
- Additional waterfront and interior land parcels available (0.84 acres to 130 acres)
- Located along the Highway 2321 corridor
Overview
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 | $39.9k | $18.00 |
| − Vacancy | −$3.4k | −$1.53 |
| EGI | $36.5k | $16.47 |
| − OpEx | −$11.0k | −$4.94 |
| NOI | $25.6k | $11.53 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Panama City
- County
- Walton
- State
- Florida
- Longitude
- -85.5994
- Latitude
- 30.2642