Listing Agency: EXP Realty LLC L***@exprealty.com Show Phone

Listed By: Bubba McCants · License #3062634 Show Phone

Added: Jun 10 Changed: Sep 11 Last Checked: Sep 12 at 6:06AM

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MLS# 1005144

Copyright © 2026 Emerald Coast 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.

Investment Insights

Based on property information with market context.

This steel-constructed storefront property occupies 1.24 acres and provides approximately 4,800 square feet under roof, including 3,600 heated and cooled square feet. The layout includes a commercial-grade septic system sized for restaurant use, an existing kitchen hood system, drive-through functionality, and parking for customers. Renovations are underway, with improvements scheduled for completion before closing.

The property fronts Highway 77 in Southport and includes dedicated ingress and egress access. The site is configured to accommodate trailers, delivery vehicles, and customer traffic, while the building’s flexible design supports restaurant, retail, office, service, or franchise operations. A nearby residential community is under development, adding new residential activity to the surrounding area.

Key Highlights

• 1.24‑acre site on Highway 77 in Southport
• Approximately 4,800 square feet under roof, including 3,600 heated and cooled square feet
• Steel‑constructed building with drive‑through functionality

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$60,394

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

6.71%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$1,207,880 $1.2M

Cap Rate 7%

$862,771 $862.8K

Cap Rate 9%

$671,044 $671.0K

Market Conditions

NOI Build-Up for 4,800 SF 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.

Gross rent

$86.4K $18.00/SF

− Vacancy

−$5.9K −$1.22/SF

EGI

$80.5K $16.78/SF

− OpEx

−$20.1K −$4.19/SF

NOI

$60.4K $12.58/SF

Area

Bay County, FL

Vacancy

6.80%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$1,207,880

Cap Rate 7%

$862,771

Cap Rate 9%

$671,044

Alternative Uses

Best Use

Specialty Retail

$862.8K

$754.9K – $1.01M (±1% cap)

NOI $60,394 @ 7.0% cap · market cap 6.71%

Second Best

Retail

$750.9K

$657.0K – $876.0K (±1% cap)

NOI $52,560 @ 7.0% cap · market cap 5.84%

Theoretical Best

Office A

$1.40M

$1.22M – $1.63M (±1% cap)

NOI $97,899 @ 7.0% cap · market cap 10.88%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick HVAC Service Storage Facility Kitchen & Bath Showroom Daycare Center Restaurant Travel Agency

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

Yes

Paved road access

Yes

Commercial hood

Location Intelligence

Trade Area within ½ mile

40

Businesses Nearby

15k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Dollar General Shops & Services

8,254 visits/mo 0.3 miles

Exxon Shops & Services

6,480 visits/mo 0.5 miles

Demographics for 32409, FL

10,394

Population

4,525

Households

2.3

Avg Household Size

42

Median Age

24%

College-Educated

90%

High-School Grad

126.6 sq mi

ZIP Area

82

Density / Sq Mi

$60,687

Median Household Income

$37,278

Median Earnings

$1,097

Median Rent

$221,500

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - Adaptable commercial building with restaurant infrastructure, customer parking, and direct access from Highway 77.

Where is this storefront property located?

The property is located at 13919 Highway 77 Southport, FL.

What is the asking price?

The asking price for this property is $900,000.

What are key features of this property?

This property features: 1.24‑acre site on Highway 77 in Southport; Approximately 4,800 square feet under roof, including 3,600 heated and cooled square feet; Steel‑constructed building with drive‑through functionality