Retail Space For
For Sale
Contact for pricing
Pending
2116 S Highway 77, Lynn Haven, FL 32444
16,044 SF retail space available for purchase.
Property Size16,044 SF
Days on Market607
Property Features for 2116 S Highway 77
General Information
Standard status
Pending
Size
16,044 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Gross
Building Details
Year Built
1984
Stories
1
Tenancy
Single
Listing Agency:
Resource Realty Group, LLC
(850) 630-4500
Listed By:
Neil Jones, SIOR · License #BK3503103
Source:
Crexi
Added: Dec 11, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:19AM
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 Resource Realty Group, LLC
Investment Insights
Based on property information with market context.
This retail space offers 16,044 square feet of area. The property is located on South Highway 77 in Lynn Haven, Florida.
Key Highlights
- Retail Property
- 16,044 SF of space
- Year Built: 1984
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
$175,680
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
7.72%
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%
$3,513,600
$3.5M
Cap Rate 7%
$2,509,714
$2.5M
Cap Rate 9%
$1,952,000
$2.0M
Market Conditions
NOI Build-Up for 16,044 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
$273.4K $17.04/SF
− Vacancy
−$22.4K −$1.40/SF
EGI
$251.0K $15.64/SF
− OpEx
−$75.3K −$4.69/SF
NOI
$175.7K $10.95/SF
Area
Bay County, FL
Vacancy
8.20%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
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%
$3,513,600
Cap Rate 7%
$2,509,714
Cap Rate 9%
$1,952,000
Alternative Uses
Best Use
Retail
$2.51M
$2.20M – $2.93M
NOI $175,680 @ 7.0% cap · market cap 7.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.67M
$4.09M – $5.45M
NOI $327,227 @ 7.0% cap · market cap 14.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
524
Businesses Nearby
460k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 42%
Superstores 21%
Groceries 18%
Shops & Services 17%
Walmart
Superstores
98,630 visits/mo
0.3 miles
Publix
Groceries
36,691 visits/mo
0.2 miles
Winn-Dixie
Groceries
27,945 visits/mo
0.3 miles
McDonald's
Dining
27,799 visits/mo
0.4 miles
Murphy USA
Shops & Services
25,922 visits/mo
0.1 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?
Retail space - 16,044 SF retail space available for purchase.
Where is this retail space located?
The property is located at 2116 S Highway 77 Lynn Haven, FL.
What is the asking price?
The asking price for this property is $2,275,000.
What are key features of this property?
This property features: Retail Property; 16,044 SF of space; Year Built: 1984
