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Prime Highway 77 Commercial Property

3407 FL-77 Panama City, FL 32405

3407 FL-77, Panama City, FL, 32405
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4.2-acre property with retail buildings and redevelopment potential.

Property Size7,200 SF
Lot Size4.20 Acres
Price / SF$346.53
AddedJul 5, 2022
Days on Market1472
Last RefreshMay 19 at 10:21 pm

Property Features for 3407 FL-77

General Information

Standard status
Active
Size
7,200 SF
Lot size
4.20 Acres
Property subtype
Land, Mixed Use, Retail, Special Purpose

Building Details

Year Built
1985

Listing office Keller Williams Success Realty

Listing date Jul 5, 2022

Source Crexi

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 Keller Williams Success Realty


Investment Insights

Based on property information with market context.

This 4.2-acre property is located on Highway 77 in Panama City, Florida, featuring 330 feet of road frontage and two access points. The average daily traffic count is 30,098 vehicles. The property includes two 60' x 60' metal retail buildings with finished interior space and covered warehouse storage. Parking is available at each building, with a driveway in between. The rear of the property consists of vacant land with a cement slab where a storage building was previously located. The property has a Panama City address but is annexed by the city of Lynn Haven, with utilities and taxes managed through Lynn Haven. The location offers potential for redevelopment, suitable for office, hotel, restaurant, or retail use. The area is experiencing new construction of gas stations, grocery stores, and restaurants. There is a need for multi-family housing, hotels, retail, restaurants, entertainment venues, office buildings, and storage units. Tyndall Air Force Base is being rebuilt and will house three fighter squadrons, bringing approximately 5,000 people to the area starting in August 2026.

Key Highlights

  • High‑traffic location on Hwy 77 with 330' of road frontage and an average daily traffic

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 $129.6k $18.00
− Vacancy −$11.0k −$1.53
EGI $118.6k $16.47
− OpEx −$35.6k −$4.94
NOI $83.0k $11.53
7,200 SF · lease $18.00/SF/yr · vacancy 8.50% · expense 30.00%

Alternative Uses

Best Use
Retail
$1.19M
$1.04M – $1.38M (±1% cap)
NOI $83,009 @ 7.0% cap · market cap 3.33%
Second Best
Mixed Use
$952.9K
$833.8K – $1.11M (±1% cap)
NOI $66,704 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$1.81M
$1.58M – $2.11M (±1% cap)
NOI $126,749 @ 7.0% cap · market cap 5.08%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Location Intelligence

Current Use by Public Records

Commercial land

FAQs

What type of property is this?
Mixed-use property - 4.2-acre property with retail buildings and redevelopment potential.
Where is this mixed-use property located?
The property is located at 3407 FL-77 Panama City, FL.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: High‑traffic location on Hwy 77 with 330' of road frontage and an average daily traffic
Contact an agent
(850) 258-2544 Call to check price and availability
More about this property
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