Corner Commercial Land
For Sale
Contact for pricing
1404 New York Avenue A&B, Lynn Haven, FL 32444
Corner parcel with two existing buildings and dual access from New York Avenue and Hwy 390.
Property Size1,649 SF
Price / SF$411.16
Days on Market55
Property Features for 1404 New York Avenue A&B
General Information
Standard status
Active
Size
1,649 SF
Property subtype
Land
Building Details
Year Built
2013
Listing Agency:
New Town Realty
(850) 258-6429
Listed By:
Sheran Whitaker · License #3005728
Source:
Crexi
Added: Jun 17
Changed: Aug 8
Last Checked: Aug 9 at 2:24PM
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 New Town Realty
Investment Insights
Based on property information with market context.
This offering presents a corner commercial land opportunity in Lynn Haven, sized at over one-half acre and designed to support a range of high-demand uses. The site includes two existing buildings that have historically been used as a business and a residence. Both buildings are currently occupied on a month-to-month basis, which can provide flexibility for an operator seeking immediate income while keeping options open for redevelopment or repurposing.
The property sits along the Hwy 390 corridor and benefits from access from both New York Avenue and Hwy 390. Its corner configuration supports straightforward arrival and circulation from either frontage, and the location is described as being in the heart of Lynn Haven. The surrounding area continues to develop, including an adjacent property with a new bank and discussions underway for a Culver’s.
For buyers or operators, the combination of a high-exposure highway address, dual access, and existing building improvements makes the site well-suited for uses such as a coffee shop, medical or professional offices, retail, or service-based businesses. The current month-to-month occupancy also supports a transitional approach for those who want to evaluate the site’s best fit while planning next steps.
The property sits along the Hwy 390 corridor and benefits from access from both New York Avenue and Hwy 390. Its corner configuration supports straightforward arrival and circulation from either frontage, and the location is described as being in the heart of Lynn Haven. The surrounding area continues to develop, including an adjacent property with a new bank and discussions underway for a Culver’s.
For buyers or operators, the combination of a high-exposure highway address, dual access, and existing building improvements makes the site well-suited for uses such as a coffee shop, medical or professional offices, retail, or service-based businesses. The current month-to-month occupancy also supports a transitional approach for those who want to evaluate the site’s best fit while planning next steps.
Key Highlights
- Year Built 2013 for the commercial mixed‑use property with two existing buildings
- Over one‑half acre corner parcel with access from both New York Avenue and Hwy 390
- Two existing buildings historically used as business and residence
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
$20,748
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
3.06%
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%
$414,960
$415.0K
Cap Rate 7%
$296,400
$296.4K
Cap Rate 9%
$230,533
$230.5K
Market Conditions
NOI Build-Up for 1,649 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
$29.7K $18.00/SF
− Vacancy
−$2.0K −$1.22/SF
EGI
$27.7K $16.78/SF
− OpEx
−$6.9K −$4.19/SF
NOI
$20.7K $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%
$414,960
Cap Rate 7%
$296,400
Cap Rate 9%
$230,533
Alternative Uses
Best Use
Specialty Retail
$296.4K
$259.4K – $345.8K
NOI $20,748 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$480.5K
$420.4K – $560.5K
NOI $33,632 @ 7.0% cap · market cap 4.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
525
Businesses Nearby
86k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 61%
Shops & Services 26%
Apparel 10%
Electronics 1%
McDonald's
Dining
27,799 visits/mo
0.4 miles
Circle K
Shops & Services
17,228 visits/mo
0.2 miles
SONIC Drive In
Dining
11,154 visits/mo
0.2 miles
Goodwill
Apparel
8,952 visits/mo
0.3 miles
Popeyes Louisiana Kitchen
Dining
8,197 visits/mo
0.2 miles
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Corner parcel with two existing buildings and dual access from New York Avenue and Hwy 390.
Where is this commercial land located?
The property is located at 1404 New York Avenue A&B Lynn Haven, FL.
What is the asking price?
The asking price for this property is $678,000.
What are key features of this property?
This property features: Year Built 2013 for the commercial mixed‑use property with two existing buildings; Over one‑half acre corner parcel with access from both New York Avenue and Hwy 390; Two existing buildings historically used as business and residence
