Multi-Use Property on Hwy
1812 Tennessee Avenue Lynn Haven, FL 32444
For Sale
$799,000
Pending
1.54 acres with home, vacant lot, and warehouse.
Property Size4,304 SF
Lot Size1.54 Acres
Days on Market893
Property Features for 1812 Tennessee Avenue
General Information
- Standard status
- Pending
- Size
- 4,304 SF
- Lot size
- 1.54 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1965
Listing Agency:
OWN IT REAL ESTATE LLC
(850) 867-0506
Listed By:
CINDY K CHAVIRA
Source:
Corcoran
Added: Feb 14, 2024
Changed: Jul 10
Last Checked: Jul 25 at 1:48PM
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 OWN IT REAL ESTATE LLC
Investment Insights
Based on property information with market context.
This 1.54-acre property presents an incredible multi-use opportunity, featuring a home, a vacant lot, and a warehouse. The property consists of 3 separate parcels and is zoned Multi-Use, allowing for commercial, residential (single or multi-family), or mixed-use development. Located directly on Hwy 390 with over 400 feet of highway frontage at a signalized intersection, the property offers high visibility and excellent access. City water and sewer are available, with electric and septic systems already on site. The property includes a 1,104 SF 3BR/2BA home, currently occupied, which could be renovated into a professional office, retail space, residence, or rental. Additionally, there is a 3,200 SF warehouse located on the middle lot with water, electric, and septic in place. An adjacent vacant lot also offers city sewer access at the street. Development options include converting existing structures for commercial use, building up to 3 individual homes, developing multi-family housing, or creating live/work units or a mixed-use business. This flexible property is suitable for investors, developers, or business owners seeking a prime location.
Key Highlights
- 1.54 Acres with Multi‑Use Zoning, allowing for commercial, residential, or mixed‑use development.
- High‑Visibility Location: Over 400 feet of frontage on Hwy 390 at a signalized intersection.
- Subdividable Property: Seller will subdivide, offering flexibility in purchase and development.
Financial Insights For Office B
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 | $121.4k | $28.20 |
| − Vacancy | −$24.9k | −$5.78 |
| EGI | $96.5k | $22.42 |
| − OpEx | −$24.1k | −$5.60 |
| NOI | $72.4k | $16.81 |
4,304 SF · lease $28.20/SF/yr · vacancy 20.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.03M
$904.6K – $1.21M
NOI $72,369 @ 7.0% cap · market cap 9.06%
Second Best
Mixed Use
$622.5K
$544.7K – $726.3K
NOI $43,578 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,783 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Commercial land
FAQs
What type of property is this?
Mixed-use property - 1.54 acres with home, vacant lot, and warehouse.
Where is this mixed-use property located?
The property is located at 1812 Tennessee Avenue Lynn Haven, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 1.54 Acres with Multi‑Use Zoning, allowing for commercial, residential, or mixed‑use development.; **High‑Visibility Location:** Over 400 feet of frontage on Hwy 390 at a signalized intersection.; Subdividable Property: Seller will subdivide, offering flexibility in purchase and development.
