Storefront Property With Covered
For Sale
$2,495,000
3407 S Highway 77, Panama City, FL 32405
CommercialSale, Panama City, FL
Property Size7,200 SF
Lot Size4.20 Acres
Price / SF$346.53
Days on Market1567
Property Features for 3407 S Highway 77
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Subdivision
St Andrews Bay Dev Cmp
Lot features
Flood Zone
Elementary school
Hiland Park
Middle school
Mowat
High school
Mosley
Directions
Take Hwy 77 North from 23rd St. It's past Baldwin Rd before Mosley Dr.
Standard status
Active
APN
11801-080-000
Size
7,200 SF
Lot size
4.20 Acres
Taxes and HOA fees
Tax Description
21 3S 14W -10.80- 103C ST AND BAY DEV CO PLAT LOT 77 ORB 1387 P 1279
Legal Description
21 3S 14W -10.80- 103C ST AND BAY DEV CO PLAT LOT 77 ORB 1387 P 1279
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Building Details
Year built
1985
Building materials
MetalSiding
Listing Agency:
Keller Williams Success Realty · Keller Williams Realty
(850) 249-0313
Listed By:
Christine Lance · License #3278226
(850) 258-2544
Added: Jun 27, 2022
Changed: Aug 19
Last Checked: Oct 10 at 1:06AM
MLS# 728820
Copyright © 2026 Central Panhandle 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 4.2-acre storefront property includes two metal retail buildings, each measuring 60 feet by 60 feet, with finished interior space and covered warehouse storage. Combined building area is 7,200 square feet. Parking is provided at both buildings, with a driveway connecting the improvements. Central air and public sewer are in place, and the buildings were constructed in 1985.
The property fronts 330 feet along S Highway 77 and records an annual average daily traffic count of 30,098 vehicles. Ingress and egress are available at two locations. The rear portion remains vacant aside from a concrete slab from a former storage building, providing additional land beyond the existing improvements. The property carries a Panama City address and is within the city of Lynn Haven for utilities and taxes.
The property fronts 330 feet along S Highway 77 and records an annual average daily traffic count of 30,098 vehicles. Ingress and egress are available at two locations. The rear portion remains vacant aside from a concrete slab from a former storage building, providing additional land beyond the existing improvements. The property carries a Panama City address and is within the city of Lynn Haven for utilities and taxes.
Key Highlights
- 4.2‑acre property with 7,200 square feet of combined building area
- Two 60' x 60' metal retail buildings with finished interiors
- 330' of frontage on S Highway 77
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,839
Cap Rate
3.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,576,780
$1.6M
Cap Rate 7%
$1,126,271
$1.1M
Cap Rate 9%
$875,989
$876.0K
Market Conditions
NOI Build-Up for 7,200 SF
Gross rent
$122.7K $17.04/SF
− Vacancy
−$10.1K −$1.40/SF
EGI
$112.6K $15.64/SF
− OpEx
−$33.8K −$4.69/SF
NOI
$78.8K $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 Rate 5%
$1,576,780
Cap Rate 7%
$1,126,271
Cap Rate 9%
$875,989
Alternative Uses
Best Use
Retail
$1.13M
$985.5K – $1.31M
NOI $78,839 @ 7.0% cap · market cap 3.16%
Second Best
Warehouse
$779.1K
$681.7K – $909.0K
NOI $54,537 @ 7.0% cap · market cap 2.19%
Theoretical Best
Office A
$2.10M
$1.84M – $2.45M
NOI $146,848 @ 7.0% cap · market cap 5.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
30,098 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
288
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32405, FL
28,158
Population
13,585
Households
2.1
Avg Household Size
40
Median Age
29%
College-Educated
92%
High-School Grad
18.8 sq mi
ZIP Area
1,498
Density / Sq Mi
$71,002
Median Household Income
$41,867
Median Earnings
$1,418
Median Rent
$255,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Storefront property - Two finished retail buildings offer covered storage, on-site parking, and access from multiple points.
Where is this storefront property located?
The property is located at 3407 S Highway 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: 4.2‑acre property with 7,200 square feet of combined building area; Two 60' x 60' metal retail buildings with finished interiors; 330' of frontage on S Highway 77
